| Dow AgroSciences
announces biotech alliance with Performance Plants Inc. |
Indianapolis, Indiana
September 2, 1998
Dow AgroSciences LLC today announced a $1.2 million
(USD) research and marketing alliance with Canadian-based Performance Plants, Inc. to introduce a new
plant gene technology that could dramatically improve the value of canola and other crops.
Seeds containing Performance Plants' *GET and *AMPLE genes will produce plants with
superior performance traits resulting in higher crop and oil yields from canola,
sunflower, peanuts, cotton, and silage corn.
GET technology leads to the production of higher yields, AMPLE technology enhances the
protein or oil content of oilseeds and plants.
"Canola farmers, for example, could see a 10 percent increase in yields resulting
from GET
technology. That alone would mean an added value of $150 million annually to
farmers," said
Nick Hein, Dow AgroSciences Vice President for Biotechnology. "Meanwhile, a 10
percent
increase in oil content from the AMPLE technology would add approximately $140 million in
value annually to canola processors.
"The work that Performance Plants' team of researchers is doing today will
significantly increase
the productivity of agriculture for future generations," Hein added.
Performance Plants, Inc. was founded in 1995
by members of the plant biology group at Queen's
University in Kingston, Ontario. The group's expertise is in plant metabolism. Their focus
is to
improve major crops by increasing plant productivity, nutritional quality and enhancing
plant
tolerance to environmental stress.
"GET and AMPLE are facilitating technologies and Dow AgroSciences' investment means
that
we will now be able to develop more products to directly benefit farmers, processors and
consumers," said Dr. David Dennis, Performance Plants' President and CEO.
Dennis further commented on Performance Plants' decision to work with Dow AgroSciences,
"We chose to partner with Dow AgroSciences on developing GET and AMPLE technology
because they have demonstrated a strong commitment to the biotechnology industry and we
believe they are the best company to take our technology global."
The alliance between Dow AgroSciences and Performance Plants is another step in the Dow
AgroSciences' and The Dow Chemical Company's strategy to utilize biotechnology to grow the
agricultural business. The strategy includes the development of Dow AgroSciences' own
technologies, as well as partnerships such as alliances, joint ventures and acquisitions.
Dow AgroSciences LLC, based in Indianapolis, Indiana, is a global leader in providing pest
management and biotechnology products that improve the quality and quantity of the earth's
food
supply and contribute to the safety, health and quality of life of the world's growing
population.
The company employs more than 3,000 people in over 50 countries and has worldwide sales of
more than $2 billion. Dow AgroSciences is a wholly-owned subsidiary of The Dow Chemical
Company and a majority shareholder of Mycogen Corporation, a technological leader in
developing genetically enhanced crops.
The Dow Chemical Company is the fifth largest chemical company in the world, with annual
sales of more than $20 billion. Dow manufactures and supplies chemicals, plastics, and
agricultural products for customers in 164 countries, and employs approximately 43,000
people
worldwide. For more news and information about Dow, please visit its web site at
www.dow.com.
*GET is Growth Enhancement Technology
*AMPLE is Augmented Microbial and Plant Expression Technology N1372 |
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