Grace Breeding Ltd. (TASE: GRAC), an AgClimateTech industry leader focused on the development of sustainable biological-based products to boost crop yield and vitality, announced today that it has obtained the initial approval for the registration of its Nitrogen Fixation Technology (NFT) Bio-fertilizer in Brazil. As a prominent agricultural exporter and the world’s leading consumer of bio-based fertilizers, Brazil represents a significant market for innovative products.
“We are incredibly excited to have our pioneering NFT product registration approved in Brazil, a strategically crucial market renowned for its production of essential agricultural commodities such as corn and soybeans,” commented Assaf Dotan, CEO of Grace Breeding. “The global quest for more sustainable agribusiness technologies has guided our research and development efforts, and we are proud to offer our NFT solution as a response.”
The NFT bio-fertilizer presents an innovative approach to sustainable farming by reducing reliance on synthetic fertilizers such as urea, a nitrogen-based fertilizer notorious for its environmental impact. It also offers an economically feasible alternative that enhances carbon sequestration, and fosters improved corn growth.
“Our NFT technology is designed to decrease the use of urea, thereby reducing harmful carbon emissions and amplifying carbon sequestration. These features position it as a viable solution for mitigating environmental damage,” added Dotan. “We eagerly anticipate further development of this program and are keen on preparing the market in this region for the commercialization of this product by year-end.”
Grace Breeding’s NFT Bio-fertilizer has been undergoing extensive field trials on corn plants in collaboration with local partners University of Londrina (UEL) and Gaia AgroSolutions. The company released preliminary topline results from these trials in January and anticipates that comprehensive results will be available later this quarter.
This critical approval marks a significant stride for Grace Breeding in its mission to promote sustainable farming practices, reduce harmful environmental impacts, and boost crop yields through biological-based solutions. Moreover, successfully registering its NFT Bio-fertilizer in Brazil paves the way for further growth and impact in this burgeoning sector.