Hayward, California and St.
Louis, Missouri
April 28, 2008
Monsanto Company
(NYSE: MON) and Mendel
Biotechnology, Inc. today announced a collaborative
agreement to enhance the development of Mendel's BioEnergy Seeds
& Feedstocks business. Under the terms of the agreement, Mendel
will benefit from Monsanto's industry-leading expertise in the
testing, breeding, and development of crops.
Mendel and Monsanto have worked together on the development of
biotechnology traits for more than a decade in many crops,
including corn, soy, cotton and canola. In this new
collaboration, the two companies will apply Monsanto's expertise
in crop testing, breeding and seed production to perennial grass
seed varieties Mendel is developing for use in biofuels and
other commercial applications.
"Mendel sees a bright future for second generation biofuels. We
recognize the need to continue growing our capabilities and
expertise to enable us to best serve farmers and refiners with
proprietary seed products," said Neal Gutterson, president and
chief executive officer of Mendel. "Monsanto is the global
leader in the development and commercialization of high-value,
sustainable seed products. We are excited to work with
Monsanto's outstanding technical team to enhance our ability to
create high-performing dedicated energy crops."
"Monsanto has been committed to providing farmers with higher
grain yields to help them meet demand for food, feed and fuel,"
said Steve Padgette, vice president of biotechnology at
Monsanto. "This collaboration has the potential to advance
discoveries in the next frontier: cellulosic biofuels. It also
presents both companies with an opportunity to broaden our
understanding of the strengths and potential applications of
biomass grasses to biofuels production."
Cellulosic biofuels are made from leaves, stems, stalks or other
typically non-edible parts of plants. Use of these renewable
energy sources has the potential to greatly expand biofuel
supply and also deliver environmental benefits such as reduced
greenhouse gas emissions.
Mendel Biotechnology, Inc., has been a pioneer in the
application of functional genomics to the study of plant genes.
Mendel is also a pioneer for the production of dedicated energy
crops critical for second generation biofuels. Mendel has
identified and patented the use of genes that control many
aspects of plant growth and development, and is using such
inventions to develop or co-develop new plant varieties with
improved productivity and quality. Mendel has relationships with
leading agricultural, energy, forestry and horticulture
companies for the commercialization of improved seed and plant
products, and is developing new seed and feedstock products for
the emerging bioenergy market.
Monsanto Company is a leading provider of technology-based
solutions and agricultural products that improve farm
productivity and food quality.
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Biotechnology, Inc. |
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