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Aussie Biotech Innovator Partners with Indian Farming Giant
PolyGenomX Ltd announced this week that its newly incorporated sister company PolyGenomX India has signed a deal within its first week of operating with one of India's largest enterprises, the Indian Farm Forestry Development Cooperative.
Jatropha is one of the leading candidates to satisfy the rapidly growing global demand for clean, renewable aircraft biofuel, and PGX has developed the world’s fastest-growing and highest yielding variety of this plant. Interestingly, polygenomics are the product of a proprietary but natural process and therefore are not GMOs (Genetically Modified Organisms).
Identified by their unique genetic fingerprint, these “super plants” are subject to royalty. While the 2012 pilot study will cover just 50ha, the first commercial stage of the IFFDC project scheduled for 2013 is expected to extend over 1,000 ha requiring more than 1 million plants.
PolyGenomX has shown it is a company that walks its talk by partnering with such an ethical organisation, “One of our values is to work in harmony with nature and to the benefit of humanity, and IFFDC has proven through their work of developing ecologically sustainable farming practices in wasteland areas, providing employment and income for rural communities and particularly to women, that they are aligned with similar values.” says Rowe.
To date IFFDC has converted more than 26,900ha of wastelands into sustainable multipurpose forests. As part of the deal IFFDC has also agreed to act as a Plantation Management Partner with PolyGenomX.
“This agreement with IFFDC showcases PolyGenomX’s capabilities to a broader market, it allows major producers of bio-diesel to see first-hand the performance of our higher-yielding, more robust polygenomic plants. I think people will be very surprised by what we can do.” says Rowe.
Mr Raj Bharara, MD of PolyGenomX India, says “working with IFFDC as Plantation Management Partner is a great add on to our strengths and will improve our chances of breakthrough with other plant-based organisations. IFFDC enjoys an excellent reputation on its own and is part of one of the largest cooperatives in the world (IFFCO).”
Australian MD, Peter Rowe, said, “We are immensely proud to have been selected by a
partner of the calibre of IFFDC for a project of this importance and scale. I am indebted to our PolyGenomX India MD, Raj, and to each member of our team here in Australia who have made this possible.”
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Via its proprietary technology PolyGenomX creates super-performing trees and plants that are higher-yielding, more robust and more versatile than others in the market. Applications for this technology include; Carbon Capture, Minesite Remediation, Bio-Energy (biomass, biofuel), Timber, Food