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OptiFreeze signs a strategic partnership with Syngenta Flowers
OptiFreeze has signed a strategic partnership with Syngenta Flowers. In Syngenta Optifreeze will get a partner that has a global presence and an industrial insight. The combination of Optifreeze technology and Syngenta’s industrial knowledge will accelerate the market introduction of OptiCept.
Syngenta, being one of the biggest players in the world in this field, is a perfect partner to Optifreeze. Syngenta will help OptiFreeze to fully industrialize the process line and help to develop the market for the OptiCept process in the flower industry. The partnership focuses on developing recipes for defined crops, define market strategy and work with interested third parties. It also includes to find new business areas for OptiFreeze technology within the flower and plant industry. Both companies have stated the intention to make this innovative process an industrial standard. The two parties have also agreed not to apply any exclusivity to Syngenta, meaning the technology will be marketed to everyone.
“In Syngenta we get the best possible partner to fully commercialize our technology and systems. By signing the agreement, the collaboration enters the next phase, not only between the two companies, but also for OptiFreeze that now with full speed moves towards the targets earlier communicated. It is also an important sign when a global industrial player like Syngenta signs this agreement with us, that the technology works, and the market has a strong belief in it and us. The opportunities in the plant cutting and cut flower industry are enormous and the potential of OptiFreeze excite us now more than ever”, says Eda Demir Westman, CEO OptiFreeze.
The business model that will be applied is built on royalties paid per treated plant. This is a common way to work in the industry and Syngenta’s experience in this field will be crucial. The OptiFreeze technology delivers important quality and storability improvement of cuttings. These benefits create new opportunities for producing better young plants more efficiently in the flowers industry.
OptiFreeze has earlier communicated the principles around this structure. Syngenta and Optifreeze have agreed on a split of future revenue income from the royalties. Syngenta will pay their part of the royalty to Optifreeze for all treated plants processed in the Syngenta farms.
The first OptiCept line was ordered by Syngenta in September 2018 (see press release of September 14th2018).This line will be installed at their farm in Kenya (Kenya Cutting Limited). The line is expected to be in operation in April 2019. Until September 2019 finetuning, local training and extended tests will be done in Kenya with experts from both companies. The target is to enter the first pre-commercial phase in September 2019.
During the extensive tests that OptiFreeze and Syngenta have conducted during 2018 both companies have generated several additional ideas where to apply OptiFreeze technology. Several sub applications will be explored together and the more the companies combine their different expertises, the more new ideas are generated. Through OptiFreeze’s technology the cells in the flower can be accessed with different additives spanning from sugars, protein and antibacterial substances.
This information is information that OptioFreeze AB is obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person below for publication on 19thof February 2019.
OptiFreeze AB has a patented technology that preserves the taste, shape and texture of vegetables, fruits and berries throughout the freezing and thawing process. OptiFreeze has furthermore developed methods that can improve the shelf life of vegetables, fresh cut fruits, flower cuttings and other plants. The same technology can be used to dry fruits, vegetables, herbs and spices aiming to reduce the drying time while preserving the fresh-like taste, smell and color. The technology opens new business opportunities for food and plant propagation industry all around the world.
OptiFreeze is the result of a long period of research at the Institute of Food Technology at the University of Lund. The company is situated in Lund, Sweden and is listed at the Spotlight Stock Market.To learn more visit www.optifreeze.se.
Syngentais one of the world’s leading agriculture companies. The ambition is to help safely feed the world while taking care of the planet. Syngenta aim to improve the sustainability, quality and safety of agriculture with world class science and innovative crop solutions. Syngenta’s technologies enable millions of farmers around the world to make better use of limited agricultural resources. With 28,000 people in more than 90 countries Syngenta is working to transform how crops are grown. Through partnerships, collaboration and The Good Growth Plan Syngenta is committed to improving farm productivity, rescuing land from degradation, enhancing biodiversity and revitalizing rural communities. To learn more visit www.syngenta.com and www.goodgrowthplan.com.
19 February 2019, Lund
Eda Demir Westman, CEO