For Immediate Release
|Robert Blum, Joe Dorame, Joe Diaz
Lytham Partners, LLC
Chief Financial Officer
S&W Seed Company
LONGMONT, Colorado – February 25, 2020
Today, on the eve of the 2020 Commodity Classic, S&W Seed Company (NASDAQ: SANW) and ADAMA announced their intent to collaborate on the development of a new sorghum herbicide-tolerant system. This collaboration is expected to bring innovation to sorghum growers and improve weed control and yields.
S&W will provide new herbicide tolerance traits developed using its advanced research and technology platform, and also provide high-performance seed. ADAMA will provide best-in-class herbicides to deliver effective weed control. The scope of the agreement includes ACCase tolerance traits and ACCase inhibitor herbicides.
The new Double Team™ ACCase tolerance trait was developed by S&W in collaboration with the United Sorghum Checkoff program using traditional breeding non-GMO tissue culture.
“Historically, sorghum has lagged behind other major crops like corn, soybeans, and cotton in the application of novel technologies,” said Dr. Don Panter, Executive V.P., S&W. “However, we look at sorghum as one of our key product lines and have prioritized our R&D efforts to bring this traditional breeding, non-GMO technology to U.S. sorghum growers in what we believe is record time. We plan to bring a broad spectrum of Double Team™ sorghum hybrids to the marketplace through our Sorghum Partners® brand, and by offering top-tier seed companies licenses to the Double Team™ system. We are very pleased to have an experienced global partner, ADAMA, to develop weed control systems and to support stewardship and grower education with us.”
Dr. Steve Calhoun, V.P., R&D, S&W, speaking about the development and future of hybrids, echoed these sentiments. “We believe this new herbicide tolerance technology will not only benefit current sorghum producers in weed control, but also bring sorghum back to water-limited acres where it is much more profitable than other crops like corn,” Calhoun said. “Our R&D team is committed to genetic improvement of sorghum, and in particular, to delivering this powerful innovation to sorghum producers.”
Jake Brodsgaard, CEO of ADAMA USA, views this collaboration as perfectly aligned with the mission of ADAMA. “At ADAMA, we are driven by listening and providing growers simple, straightforward solutions,” Brodsgaard said. “This collaboration between ADAMA and S&W will provide the first full-spectrum grass control option for sorghum growers. This new cropping solution is expected to simplify crop management by providing sorghum growers with an effective and convenient weed management system to get the most from every production acre.”
Extensive field trials are planned for 2020 to verify further hybrid performance and crop selectivity, and also to fine-tune the use of the Double Team™ sorghum cropping solution herbicides in an overall weed control system. Regulatory trials are also underway to obtain global approval for the trait and herbicide to facilitate grain export.
Both companies intend to provide a complete weed stewardship management system fully supported by a team of sales and technical service representatives to make a positive impact on today’s farmers and provide long-term sustainability.
While the Double Team™ sorghum cropping solution herbicide tolerance system is currently pending regulatory approval by the EPA, it is expected to be commercially available in limited quantities in the spring of 2021.
ADAMA Ltd. is one of the world’s leading crop protection companies. ADAMA strives to Create Simplicity in Agriculture – offering farmers effective products and services that simplify their lives and help them grow. With one of the most comprehensive and diversified portfolios of differentiated, quality products, the company’s more than 7,000-strong team reaches farmers in over 100 countries, providing them with solutions to control weeds, insects and disease, and improve their yields. For more information, please visit www.adama.com.
About S&W Seed Company
Founded in 1980, S&W Seed Company is a global agricultural company headquartered in Longmont, Colorado. S&W’s vision is to be the world’s preferred proprietary seed company which supplies a range of forage and specialty crop products and supports the growing global demand for animal proteins and healthier consumer diets. S&W is a global leader in proprietary alfalfa and sorghum seeds, with significant research and development, production and distribution capabilities. The company’s Sorghum Partners® brand provides high-quality sorghum seeds that are planted on millions of acres around the world. For more information, please visit www.swseedco.com and www.sorghumpartners.com.
S&W Seed Company Safe Harbor Statement
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected.” Forward-looking statements in this release include, but are not limited to, statements regarding the anticipated benefits of Double Team™ sorghum hybrids, including improved weed control and sorghum yields, production in water-limited areas, and simplification of crop management; expected timing and results of field trials and regulatory approvals; expected commercial availability of Double Team™ sorghum hybrids; and statements regarding the advancement of our strategic plans. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that Double Team™ sorghum hybrids may not yield the expected results, our collaboration with ADAMA may not proceed as planned, the market for Double Team™ sorghum hybrids may never develop, demand for and production of sorghum in our target markets may decline, competitors may develop alternative and more effective sorghum hybrids, as well as risks associated with our ability to successfully optimize and commercialize our business. These and other risks are identified in our filings with the Securities and Exchange Commission, including without limitation our Annual Report on Form 10-K for the fiscal year ended June 30, 2019, and in our other filings subsequently made with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.