Agtech start-up signs international deal
A global leader in biological crop solutions, Symborg, has taken an equity position in the Australian agtech company thinkbio.
Specialising in microbial inoculants that are applied to agricultural crops for improved performance and sustainability, thinkbio’s key innovation is a product called trifixN, a powerful nitrogen fixing inoculant patented by the company.
trifixN is a foliar inoculant that includes C-Active Microbial Technology for promoting plant growth. Its combination of microorganisms has a catalytic effect in fixing atmospheric nitrogen, increasing hormone and vitamin production and delivering better solubilisation and absorption of nutrients, thereby contributing to increased plant production yield.
Lisa Anderson , thinkbio managing director, said the agreement presents an outstanding opportunity for the company to expand globally, leveraging Symborg’s established distribution network and experience in dealing with biological products.
“Symborg has extensive experience in working with growers to educate and introduce biological products into conventional nutrition programs,” she said. “This is a critical aspect for us as we look to promote the adoption of trifixN by growers worldwide.
“The agreement provides an opportunity to leverage our respective distribution networks, adding value to global crop production in different markets and environments.”
Symborg will contribute its mature international trading structure which includes subsidiaries in six key international agricultural markets (Mexico, Brazil, USA, Turkey, China and Spain) and a commercial presence in over 30 countries via its distribution network.
“We are very excited about the opportunity to bring Symborg’s product range, which is currently being used by horticultural growers in over 40 countries, to Australian and New Zealand growers in the near future,” Ms Anderson said.
The partnership will also see Symborg and thinkbio share expertise and collaborate on microbial R&D+I (research, development and innovation) projects.
“This is a notable opportunity for us to bring together our R&D teams to share intensive knowledge and opportunities for innovation in the biological space,” Ms Anderson said.
“The biological sector is growing globally at an explosive rate as growers are demanding alternatives to unsustainable farming practices. Our objective is to provide growers with innovative technologies that optimise fertiliser efficiency and yields while placing less stress on the environment.”
For Symborg CEO Jesús Juarez this collaboration is part of the company’s business model: partnering with research groups and specialist companies to best serve international markets.
“Alliances such as this ensure success and accelerate the access of new technologies to agriculture,” he said.
“We have a lot in common with thinkbio, as a young company with significant knowledge and expertise.
They have the knowhow and a highly qualified team working hard to establish a foundation for ensuring success. We are very pleased and excited by the opportunities this presents for us and our customers.”
Symborg and thinkbio are in the process of formalising reciprocal distribution and product agreements, along with planning for collaborative R&D+I programs.