Terasol Secures Exclusive Access to Market-Leading Castor Seeds in Brazil
NEW YORK, May 11, 2011 /PRNewswire/ — Terasol Energy, LLC (www.terasolenergy.com) today announced that it has entered into an agreement with Kaiima Bio Agritech (www.kaiima.com), a leading seed company based in Israel, to commercialize Kaiima’s proprietary castor varieties in Brazil. This agreement provides Terasol with the exclusive right to market Kaiima’s proprietary castor varieties in the Mato Grosso state. Kaiima uses its proprietary technology to produce the highest yielding, most advanced castor seeds available in the marketplace. Kaiima has a large portfolio of innovative non-GMO plant varieties and works with Terasol to test these crops in Brazil.
Heliagro Agricultura e Pecuaria Ltda., Terasol’s wholly owned seed development and commercialization business in Brazil, will distribute Kaiima’s castor varieties on an exclusive basis initially in Mato Grosso, with a right to expand to the Goias and Minas Gerais states. Mato Grosso, the largest agricultural state in Brazil, is currently the focus of Terasol’s commercial vegetable oil production operations and is a key market for the introduction of new alternative genetic material for large-scale cultivation in Brazil. Terasol is currently producing 1,000 hectares of castor in Mato Grosso and with the addition of Kaiima’s genetic material, this cultivation area is expected to increase significantly in 2012. Terasol is currently developing a fully-integrated commercial-scale castor oil supply project in Mato Grosso and this partnership with Kaiima is critical to the success of the project.
“With this distribution agreement, Terasol will have access to Kaiima’s world-class genetic castor genetic material which is optimized for large-scale cultivation,” said Henrique Ubrig, CEO of Terasol. “Castor has tremendous potential as a high-yielding industrial-scale oilseed crop in Brazil, and with access to this novel genetic material we are well-positioned to be the leader in the commercial production of castor in Brazil.”
Terasol Energy, LLC is a developer of next-generation feedstocks for the food, bioenergy and specialty chemicals industries. The Company leverages its expertise in plant science, agronomy, project management, industrial production and logistics management to develop and produce large scale, vertically-integrated vegetable oil production projects in Brazil. The foundation of each Terasol vegetable oil production project is novel genetic material, which Terasol develops independently or obtains through partnerships with leading global seed developers. Terasol operates in the Brazilian Cerrado region of Brazil, which includes the states of Mato Grosso, Goias and Minas Gerais. Terasol is based in both New York and Brazil.
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SOURCE Terasol Energy, LLC