PR.com: Business Directory, Press Releases, Jobs, Products, Services, Articles
 
Businesses Articles Press Releases Follow @PRcom
Press Release Pricing | News by Category | News by Country | News by US Region | Recent News | PR.com News on Your Site
 

Press Releases

 
PolyGenomX Ltd

Press Release

Share      Blog

Receive press releases from PolyGenomX Ltd: By Email PDF Version RSS Feeds:

Aussie Biotech Innovator Partners with Indian Farming Giant


PolyGenomX Ltd (PGX) announced this week that it’s newly incorporated sister company PolyGenomX India has signed a deal within its first week of operating. The deal with one of India’s largest enterprises, the Indian Farm Forestry Development Cooperative (IFFDC), is to trial its polygenomic Jatropha (Jatropha curcas pgx) to determine the best performing lines to provide India with on-going energy sources.

Aussie Biotech Innovator Partners with Indian Farming Giant
Queensland, Australia, November 18, 2011 --(PR.com)-- A major double coup for Australian based bio-technology company PolyGenomX Ltd (PGX) was announced this week. It’s 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 (IFFDC), to trial its polygenomic Jatropha (Jatropha curcas pgx). This is the first stage in a collaborative R&D program to determine the best performing lines of Jatropha to provide India with on-going energy sources. Plans for future trials include polygenomic Paulownia.

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.”

###
Contact Information
PolyGenomX Ltd
Sarah Dyson
+61 7 55103166
Contact
www.polygenomx.com

Click here to view the list of recent Press Releases from PolyGenomX Ltd
Promote Your Business