Chromatin, Inc. Acquires Sorghum Partners, Inc. (SPI) and Milo Genetics, LP
Company Gains Established Market Share, Seed Production Platform and Germplasm, Solidifying Move Into Bioenergy Feedstock Market
Apr 28, 2010 11:30 AM ET
(3BLMedia/theCSRfeed) CHICAGO, IL – April 28, 2010 – Today, Chromatin, Inc. announces that the company has acquired the assets of Sorghum Partners, Inc. (SPI) and Milo Genetics, LP. The transaction provides Chromatin with access to SPI’s well-established multi-national network of sorghum growers and distributors as well as existing sorghum seed production facilities, representing over 7% of the sorghum hybrid market in the US. The deal also provides Chromatin with commercially viable germplasm from Milo Genetics, which is underpinned by decades of experience in providing quality products to the market. The integration of SPI and Milo Genetics further accelerates Chromatin’s efforts to commercialize a portfolio of proprietary sorghum lines as bioenergy feedstocks.
Chromatin is committed to sorghum as a pathway for sustainable biomass production and feedstock improvement. As the only energy crop that can provide starch, sugar and lignocellulose, sorghum holds unmatched versatility for traditional and advanced liquid biofuels production as well as for applications in emerging sectors such as green power and renewable chemicals. Chromatin is using its technology platform to optimize sorghum from an agronomic perspective and as an energy crop by designing its compositional attributes to match the unique needs and process specifications of bioprocessors.
“Sorghum is ideally suited as the energy crop for the future,” said Larry McDowell, SPI’s President, and Chromatin’s Director of Seed Operations. “Sorghum is adapted to 80% of the world’s agricultural land, is very drought tolerant, is extremely efficient on less than optimum soils, and has a very favorable carbon footprint compared to other major grain crops. By joining forces with Chromatin, we will speed the development and distribution of advanced sorghum bioenergy feedstocks worldwide, while continuing to support our existing customers. This is truly a step forward for sorghum.”
With this strategic acquisition, Chromatin now has the opportunity to further leverage the credibility of the trusted SORGHUM PARTNERSÒ BRAND and the company’s valued relationships with growers and sales agents, positioning Chromatin to rapidly access new markets, diversify and increase production volumes and grow recurring revenues.
“Today’s bioprocessors are underserved by commodity feedstocks,” said Daphne Preuss, CEO of Chromatin. “Our emerging energy crop industry is in great need of market-ready products that can be sustainably and domestically produced, are cost competitive and are targeted at driving value for growers and bioprocessors. Chromatin now has the capabilities to develop and market products specifically designed to improve bioenergy yields and to accelerate renewable energy production,” said Preuss.
About Chromatin
Chromatin, Inc. is a biotech company developing and marketing innovative technologies and products that benefit the agricultural, energy, chemical, nutritional, and pharmaceutical sectors. Since 2000, the company has successfully developed and commercialized its proprietary gene stacking technology, which can be used to simultaneously, and precisely introduce multiple genes in any plant. Now, by deploying a broad and unique intellectual property platform, Chromatin is developing specialized sorghum feedstocks for the renewables industry. These next generation, high-quality feedstocks are being designed by Chromatin’s elite team of experts to meet the precise yield and performance requirements of the bioprocessing industry. For additional information visit www.chromatininc.com.
About Sorghum Partners
Sorghum Partners, Inc. develops, markets and distributes SORGHUM PARTNERSÒ BRAND hybrid sorghum seed worldwide. Sorghum farmers in North America, South America, Central America, Europe, The Middle East, Africa and Asia rely on SORGHUM PARTNERS BRAND hybrid sorghum seed to produce the food, feed, and fuel needed in today’s fast paced world. Sorghum Partners, Inc. produces only hybrid sorghum seed. Sorghum Partners, Inc. is devoted to helping farmers better understand and take advantage of the unlimited uses for sorghum through technology, plant breeding, innovative production and marketing. For additional information visit www.sorghum-partners.com.
