Hayward, California, and Sun City, Florida, USA
November 30, 2009
Speedling Incorporated and Mendel Biotechnology, Inc. today announced a collaborative agreement to jointly research, develop, and commercialize a cost-effective propagation and production system for Mendel's advanced Miscanthus product candidates. Speedling will apply its proprietary propagation methods to optimize the production of field-ready transplants for large scale testing and commercialization by Mendel in the emerging bioenergy markets. The parties will also jointly develop certain biomass power projects in target locations specifically chosen for their yield potential of Mendel Miscanthus products.
"Commercial-scale deployment of genetically diverse, high-yielding perennial grasses will be required for the country to meet its renewable energy and fuel targets in an economically and environmentally sustainable manner," said Neal Gutterson, Mendel's president and CEO. "Speedling has demonstrated best-in-class capabilities in vegetative plug production with superior customer service. We are delighted to have Speedling as a partner for large-scale deployment of both our advanced clonal Miscanthus products and also future development needs and product offerings."
"Speedling is excited to join forces with a leading biotechnology firm with the outstanding reputation of Mendel." said Greg Davis, CEO of Speedling. "We believe that the surest path to success in the rapidly emerging bioenergy industry is partnerships that match complimentary skills and expertise. Speedling's proven productions capacities and Mendel's biogenetic expertise certainly meet that criterion."
Under the terms of the agreement, Mendel will provide stock Miscanthus material to Speedling, who will develop propagation and production methods for crop establishment. The parties will jointly fund the development activities. Speedling will provide field-ready plugs to Mendel at commercial terms. The parties will exclusively develop certain biomass power projects to demonstrate the commercial utility of Miscanthus products in the generation of renewable electricity in a closed loop biomass system.
About Mendel Biotechnology
Mendel Biotechnology, Inc., is a pioneer in the application of functional genomics to the study of plant genes. Mendel is also a leading developer of dedicated energy crops for the bioenergy markets. 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. For more information, visit: www.mendelbio.com.
About Speedling
Speedling Inc. is a 47 year old agricultural firm specializing in the production of field-ready plugs in the vegetable, ornamental and dedicated energy crop markets. With headquarters in Sun City, Florida and operations in Florida, Georgia, Texas and California, Speedling is an industry leader and pioneer in plant propagation. For more information, visit: www.speedling.com.
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