Groundwork BioAg signs license agreement with the Agricultural Research Organization’s (ARO’s) Volcani Center
Mycorrhiza refers to a naturally-occurring symbiotic relationship between fungi and plants. These “good” fungi effectively extend plants’ root systems and increase their ability to absorb nutrients in the soil. Numerous crops, including small grains, require the presence of mycorrhizal fungi in order to grow to their full potential. When applied to agricultural crops, Groundwork’s mycorrhizal inoculants significantly increase yields while reducing fertilizer requirements. Controlled field trials conducted by Groundwork and by ARO have demonstrated double-digit yield increases in several crops, including corn, bell pepper, sunflower and banana. Groundwork’s mycorrhizal inoculants are highly concentrated, pure and vigorous, and thus able to reach efficacy rates that are sufficient for mainstream agricultural products.
Prof. Yoram Kapulnik, the center’s Executive Director and world-renowned mycorrhiza expert, stated, “We are very pleased to have consummated this transaction. Groundwork is the commercial culmination of over twenty years of research and development conducted here at the Volcani Center. I am proud to chair Groundwork’s Scientific Advisory Board. Groundwork’s success is our success”. Jack Levy, Partner at ICV, states, “Groundwork poses a compelling investment opportunity, because they have effectively bypassed the long and expensive growth curve of a typical agrobiotech venture, by licensing a mature technology to produce a unique product with sustainable competitive advantage”. Dr. Yossi Kofman, Groundwork’s CEO, adds, “Mycorrhizal fungi have been known to improve crop yields Such products have thus far been limited to niche markets, however, due to the challenges in producing mycorrhizal inoculants in high concentration. With ARO’s technology, Groundwork is set to change this paradigm and to bring mycorrhiza to mainstream agriculture”.
About Groundwork BioAg Ltd.:
Groundwork BioAg Ltd. develops, produces and commercializes mycorrhizal inoculants for mainstream agriculture. Mycorrhizal fungi form symbiotic relationships with plants. They extend the root system and help plants absorb nutrients in the soil. This increases plant yields while applying less fertilizer. Groundwork’s family of myocrrhizal inoculant products are highly concentrated, making them the first such products that are effective enough to be relevant to mainstream agriculture. The company is currently earning initial revenues in several countries. For more information, please visit www.groundworkbioag.com.