Mosaic and AgBiome Announce Collaboration to Develop Biological Alternatives to Enhance Soil Health

Rhea-AI Summary

Mosaic Company (NYSE:MOS) and AgBiome have announced a strategic collaboration aimed at enhancing soil fertility through innovative biological solutions. Utilizing AgBiome's GENESIS™ platform, the partnership seeks to leverage a diverse range of microbes and Mosaic's extensive expertise in soil health. Both companies aim to address the growing demand for sustainable agricultural practices, which enhance crop quality while minimizing environmental impact. This collaboration aligns with Mosaic's broader strategy to expand its soil health offerings and meet the evolving needs of growers.

Positive

• Strategic collaboration with AgBiome enhances potential for innovative soil health products.
• AgBiome's GENESIS™ platform offers access to the largest collection of fully-sequenced microbes.
• Focus on sustainable agricultural practices aligns with industry demand for environmentally-friendly solutions.

Negative

• None.

TAMPA, FL and RESEARCH TRIANGLE PARK, NC / ACCESSWIRE / March 23, 2021 / The Mosaic Company (NYSE:MOS), one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients and AgBiome, a leader in discovering and developing innovative agricultural products from diverse microbial communities, today announced a strategic collaboration, aiming to discover, develop and launch novel biological approaches to enhancing soil fertility.

The collaboration will leverage AgBiome's proprietary GENESIS™ platform that comprises the world's largest, most diverse, fully-sequenced collection of microbes coupled with innovative product discovery technology. Mosaic will lend its industry-leading expertise in soil health and product development, as well as its global distribution and sales network. Together the companies expect to find solutions that can be added to Mosaic's soil health portfolio.

"It's exciting to collaborate with a global agriculture powerhouse like Mosaic," said Tracy Raines, Chief Innovation Officer at AgBiome. "Our work together, focused on soil health, demonstrates the grower's demand for natural, biological solutions to enhance soil nutrition - leading to better crop quality and yield."

AgBiome and Mosaic support the development of innovative agricultural technologies that help growers increase nutrient use efficiency and ultimately minimize fertilizer loss to the environment. Both companies are passionate about offering sustainable solutions to growers that meet the needs of today without sacrificing food production for the future.

"Our collaboration with AgBiome is part of a larger, multi-partner effort at Mosaic to expand the company's soil health offerings," said Kim Nicholson, Vice President-Ag Technology and Innovation at The Mosaic Company. "Now more than ever, growers are interested in engaging with companies that recognize the need for soil conservation strategies. Our work with AgBiome is expected to expand our innovative products in that space."

About AgBiome
AgBiome® partners with the microbial world to improve our planet. AgBiome discovers and develops innovative biological and trait products for crop protection. The proprietary GENESIS™ discovery platform efficiently captures diverse, unique microbes for agriculturally relevant applications, and screens them with industry-best assays for insect, disease, and nematode control. Through its commercial subsidiary, AgBiome develops and sells proprietary crop protection solutions. The first of these, Howler®, is a revolutionary fungicide for disease control in a broad variety of crops. AgBiome and Genective recently formed a strategic partnership to establish a new leader in insect traits. AgBiome has a global R&D collaboration with Elanco Animal Health Incorporated (NYSE: ELAN), to develop nutritional health products for swine. For more information, visit http://agbiome.com.

About The Mosaic Company
The Mosaic Company is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients. Mosaic is a single-source provider of phosphate and potash fertilizers and feed ingredients for the global agriculture industry. More information on the company is available at www.mosaicco.com.

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the anticipated future benefits of collaboration and innovation of soil health offerings. Such statements are based upon the current beliefs and expectations of The Mosaic Company's management and are subject to significant risks and uncertainties. These risks and uncertainties include, but are not limited to: difficulties with realization of the benefits or strategic plans; actual costs of various items differing from management's current estimates, price and demand volatility for our products, other changes in market conditions, accidents and disruptions, changes in foreign currency and exchange rates; international trade risks and other risks associated with Mosaic's international operations, changes in government policy, changes in environmental and other governmental regulation, as well as other risks and uncertainties reported from time to time in The Mosaic Company's reports filed with the Securities and Exchange Commission.

Media:

Ben Pratt
The Mosaic Company
813-775-4206
benjamin.pratt@mosaicco.com

Liz Gaston
AgBiome
919-917-6920
lgaston@agbiome.com

Investors:

Laura Gagnon
The Mosaic Company
813-775-4214
investor@mosaicco.com

SOURCE: The Mosaic Company

View source version on accesswire.com:
https://www.accesswire.com/637071/Mosaic-and-AgBiome-Announce-Collaboration-to-Develop-Biological-Alternatives-to-Enhance-Soil-Health

FAQ

What is the collaboration between Mosaic and AgBiome about?

The collaboration focuses on developing biological solutions to enhance soil fertility.

How will the Mosaic and AgBiome partnership benefit agriculture?

The partnership aims to improve crop quality and sustainability by leveraging AgBiome's microbial technology.

When was the Mosaic and AgBiome collaboration announced?

The collaboration was announced on March 23, 2021.

What is the stock symbol for Mosaic?

The stock symbol for Mosaic is MOS.

What are the goals of the Mosaic and AgBiome collaboration?

The goals include discovering and launching novel biological approaches to enhance soil health and fertility.