MustGrow Biologics Corp. (TSX-V:MGRO, OTCQB:MGROF) announced that it has signed an exclusive distribution agreement with fertilizer retailer G.S. Long Co for its biofertility product TerraSante in Oregon and Washington State.
TerraSante is an organic certified, mustard plant-derived biofertility product focused on soil microbiome health, nutrient and water use efficiencies, and plant yield.
The agricultural biotech company said that sales of TerraSante in both Oregon and Washington State will be authorized under its existing product registrations.
It highlighted the significant market opportunities presented by these states.
Oregon farmers grow a range of fruits and vegetables including potatoes, tomatoes, strawberries, wine-making grapes, cherries, pears, and apples, generating 13% of the state’s gross product and $30 billion in wages.
It believes TerraSante will position Oregon farmers to meet the increasing demand for organic, local, and healthy produce.
Washington State, meanwhile, is the United States’ largest producer of apples, blueberries, hops, pears, spearmint oil, and sweet cherries; and the number two producer of apricots, asparagus, dry onions, grapes, potatoes, raspberries, and winter wheat.
Total state agricultural production totalled $9.5 billion in 2019, MustGrow pointed out.
The company added that the agreement represents a key milestone in MustGrow’s commercialization strategy with Oregon-based Bio Ag Product Strategies to develop and commercialize its soil amendment and biofertility technologies.
TerraSante complements its biocontrol programs in preplant soil fumigation, postharvest food preservation, and bioherbicide, which are currently under development with four global partners, Bayer, Sumitomo Corporation, Janssen PMP, and NexusBioAg.