GROUNDWORK BIOAG ACQUIRES A STAKE IN NOVATERO BIOAG
MAZOR, Israel and JOINVILLE, Brazil
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July 26, 2022 08:00 AM Central Daylight Time
- Acquisition Accelerates Adoption of Mycorrhizal BioPlatform in Brazil
- Rootella® Addresses Farmers’ Need to Reduce Phosphorus, Combat Drought, Increase Yield
After another year of global expansion to accelerate market penetration of their Mycorrhizal BioPlatform, Groundwork BioAg announced its partial acquisition of NovaTero BioAg, their exclusive distribution partner in Brazil for the past four years.
The Brazilian biologicals market is projected to double in the coming years, fueled by the demand for increased yield on fewer hectares, solutions for moderate to chronic drought and fertilizer reduction. These combined challenges are affecting production and impacting the country’s approximately 83.4 million hectares of cropland.
“As Brazilian farmers battle chronic drought as well as higher fertilizer prices and lack of supplies, they want the strongest natural defense for their farms so they can more effectively manage productivity season-to-season. Rootella® helps deliver broad benefits to farmers in their field as well as in their bank account,” said Bernardo Arnaud, Chairman of NovaTero. “The partial acquisition of NovaTero by Groundwork BioAg solidifies our continued partnership and signifies our shared commitment to help Brazilian farmers grow more, better food for around 1 billion people in the world, without having to expand agriculture internal frontiers.”
Groundwork BioAg’s production capabilities uniquely supply cost-effective mycorrhizal inoculants to large-scale mainstream agriculture, like that in Brazil. While biologicals offer a fertility alternative, only mycorrhizal inoculants offer farmers an additional opportunity to increase climate resilience and access new revenue streams as a long-term strategic investment.
After being granted the first and only definitive commercial registration for mycorrhizal inoculants in Brazil, NovaTero introduced Groundwork BioAg’s Rootella BR and Rootella BR Ultra, which set the standard for quality, concentration, and predictability of application for mycorrhizal inoculants in Brazil.
“This investment reflects our strong partnership and market success working with NovaTero. They quickly established trust among Brazilian farmers and demonstrated our shared mission to ensure our customers can realize the full benefits of mycorrhizal inoculants,” said Dr. Yossi Kofman, Co-Founder and CEO of Groundwork BioAg, who recently announced commercial expansions in China and India. “Partnerships like these are integral to our global strategy as we continue to help tackle grand challenges facing humankind today, including food security, soil health, and climate change.”
In the past few years, Groundwork BioAg established commercial operations across the world’s major breadbaskets, including Brazil, India, China, Canada, the United States, and parts of Europe.
As the “queen of biologicals,” mycorrhizae are uniquely able to underpin a healthy soil microbiome and support resilient, stress-resistant plants with enhanced capacity for nutrient uptake under extreme drought. Based on strains isolated in the harsh Israeli desert, Groundwork BioAg’s products were applied on more than one million acres in 2021.
Financial details of the investment were not disclosed.
About Groundwork BioAg
Groundwork BioAg, a global bioagriculture company, leverages the natural power of mycorrhizal fungi to improve the productivity, sustainability and profitability of commercial agriculture and expand regenerative agriculture practices. Groundwork BioAg is the first to use innovative techniques to solve challenges inherent in high-volume mycorrhizal inoculant production. We will not rest until every hectare of arable land is protected by mycorrhizae and every farmer benefits from higher crop yields while preserving our soils. For more information, visit www.groundworkbioag.com.
Contact Details
AgTech PR for Groundwork BioAg
Jennifer Goldston
+1 816-260-0040
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