Arcadia Biosciences And SESVanderHave Seeds Enter Research and Commercial License Agreement for Sugar Beets Development
Under the agreement SESVanderHave receives an exclusive global license to develop and commercialize sugar beets using Arcadia's proprietary Nitrogen Use Efficiency (NUE) technology. Arcadia receives technology license fees and a share of commercial revenue from future product sales. The companies will form a collaboration to optimize research, product development, and commercial activities.
"Today's sugar beet farmers are under significant cost and environmental pressure," said John Akers, president and CEO of SESVanderHave. "Although NUE sugar beets will not be commercialized for a number of years in the future, we need to start looking for solutions now if our customers are to remain competitive and able to do their part to protect our environment."
"The capabilities and market position of SESVanderHave make them an ideal partner for the development and commercialization of NUE technology in sugar beets," said Eric Rey, president and CEO of Arcadia. "NUE sugar beets will give farmers more choices for increasing their global competitiveness while benefiting the environment."
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