Tag: Agriculture

• Succesful completion of initial commercial run-rate production via third-party contract manufacturer.
• Production run-rate of the extract reached greater than the equivalent of 5,000 litres per day of MustGrow’s mustard plant-based biocontrol liquid technology.
• Estimated equivalent annual capacity equates to approximately US$25 million in grower level revenue without the need to construct capital intensive production facilities.

SASKATOON, Saskatchewan, Canada, Jun. 13, 2023 – MustGrow Biologics Corp. (TSXV: MGRO) (OTC: MGROF) (FRA: 0C0) (the “Company” or “MustGrow”), is pleased to announce the successful initial commercial run-rate production of its mustard plant-based biocontrol liquid via a contract manufacturer.

MustGrow believes this production milestone further validates the Company’s commercialization strategy to initially utilize a third party contract manufacturer rather than construct its own capital-intensive pilot and/or commercial production facilities. The continuous production run-rate of the extract reached greater than the equivalent of 5,000 litres per day of MustGrow’s mustard plant-based biocontrol liquid technology, which is estimated to equal approximately US$25 million in annual grower level revenue. The production process created zero residual waste by generating a high protein byproduct ingredient for animal feed.

MustGrow’s CEO, Corey Giasson noted: “This is a key transition for MustGrow, now able to complete our first commercial-level production without needing to build our own capital-intensive facility.  We are now confident that we will be capable of producing commercially-scalable quantities of TerraSante^TM and TerraMG^TM in preparation for initial registration approvals.  The continuous-flow design process ran without any reported upsets and we are close to maximum theoretical recovery of our targeted mustard extracts in the concentrate. This milestone successfully demonstrates a low-risk continuous-flow process, while further mitigating commercialization risk.”

Utilizing a third party contract manufacturer markedly derisks commercial capabilities in MustGrow’s soil amendment and biofertility technologies, as well as biocontrol and postharvest food preservation, which are currently under development with four global partners: Janssen PMP, Bayer, Sumitomo Corporation, and NexusBioAg.

———

About MustGrow

MustGrow is an agriculture biotech company developing organic biocontrol, soil amendment and biofertility products by harnessing the natural defense mechanism and organic materials of the mustard plant to sustainably protect the global food supply and help farmers feed the world.  MustGrow and its leading global partners — Janssen PMP (pharmaceutical division of Johnson & Johnson), Bayer, Sumitomo Corporation, and Univar Solutions’ NexusBioAg — are developing mustard-based organic solutions to potentially replace harmful synthetic chemicals.  Concurrently, with new formulations derived from food-grade mustard, the Company is pursuing the adoption and use of its technology in the soil amendment and biofertily markets.  Over 150 independent tests have been completed, validating MustGrow’s safe and effective approach to crop and food protection and yield enhancements.  Pending regulatory approval, MustGrow’s patented liquid products could be applied through injection, standard drip or spray equipment, improving functionality and performance features.  Now a platform technology, MustGrow and its global partners are pursuing applications in several different industries from preplant soil treatment and weed control, to postharvest disease control and food preservation, to soil amendment and biofertility.  MustGrow has approximately 49.7 million basic common shares issued and outstanding and 55.6 million shares fully diluted.  For further details, please visit www.mustgrow.ca.

ON BEHALF OF THE BOARD

“Corey Giasson”

Director & CEO
Phone: +1-306-668-2652
info@mustgrow.ca

MustGrow Forward-Looking Statements

Certain statements included in this news release constitute “forward-looking statements” which involve known and unknown risks, uncertainties and other factors that may affect the results, performance or achievements of MustGrow.

Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”.  Examples of forward-looking statements in this news release include, among others, statements MustGrow makes regarding: (i) estimated grower level revenue; (ii) the ability of the Company to produce commercially-scalable quantities of TerraSante^TM and TerraMG^TM; (iii) risk levels associated with the continuous flow process; (iv) the continued success of its commercialization strategey including the commercial run-rate production of its mustard plant-based biocontrol liquid via a contract manufacturer; and (v) the maximum theoretical recovery of targeted mustard extracts in the concentrate.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of MustGrow to differ materially from those discussed in such forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, MustGrow.  Important factors that could cause MustGrow’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) the preferences and choices of agricultural regulators with respect to product approval timelines; (ii) the ability of MustGrow’s partners to meet obligations under their respective agreements; and (iii) other risks described in more detail in MustGrow’s Annual Information Form for the year ended December 31, 2022 and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities which are available at www.sedar.com.  Readers are referred to such documents for more detailed information about MustGrow, which is subject to the qualifications, assumptions and notes set forth therein.

This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.

Neither the TSXV, nor their Regulation Services Provider (as that term is defined in the policies of the TSXV), nor the OTC Markets has approved the contents of this release or accepts responsibility for the adequacy or accuracy of this release.

© 2023 MustGrow Biologics Corp. All rights reserved.

Research News and Market Data on MGROF

• Mustard plant-based development programs to focus on soil and microbiome health, nutrient and water use efficiencies, and plant yields.
• Initial focus in Washington, Oregon, California, Arizona, then U.S. nationwide.

SASKATOON, Saskatchewan, Canada, Jun. 5, 2023 – MustGrow Biologics Corp. (TSXV: MGRO) (OTC: MGROF) (FRA: 0C0) (the “Company” or “MustGrow”), is pleased to announce the signing of a Contract Services Agreement (the “Agreement”) with Oregon-based Bio Ag Product Strategies to develop and commercialize MustGrow’s soil amendment and biofertility technologies, including TerraSanteTM. The Agreement is a non-exclusive contract, leaving MustGrow the ability to seek commercial collaborations and funding partnerships.

MustGrow recently outlined its soil amendment (“Soil Amendment”) and biofertility (“Biofertility”) development programs, and working with Bio Ag Product Strategies to develop and commercialize these technologies demonstrates the Company’s positive progression in those areas.  Bio Ag Product Strategies has tremendous knowledge and a great track record of working with organizations to help develop, market, and target key retailers and farmers.  MustGrow’s Soil Amendment and Biofertility development programs will focus on soil and soil microbiome health, nutrient and water use efficiencies, and plant yields.  Initially, the development work is anticipated to progress in Washington, Oregon, California and Arizona, before expanding nationwide across the United States.

“I am very excited to work with MustGrow to help develop and commercialize their technologies in Soil Amendmnent and Biofertilizers”, commented Bio Ag Product Strategies owner, Tim Lichatowich.  “Our industry needs new innovations that can support food production in both conventional and organic agriculture and I believe that MustGrow’s technologies can add a lot of value.  The main fruit and vegetable regions of the U.S. are under constant pressure to ban and/or reduce the use of synthetic products, and being able to work with a natural product is promising for commercial-scale adoption.”

Throughout 2022, MustGrow engaged in market research, formulation activities, and prospective partnership discussions, and has added Soil Amendment and Biofertility programs to its growing global intellectual property portfolio which now covers: preplant biocontrol, postharvest food preservation and now Soil Amendment and Biofertility applications.

MustGrow believes this Soil Amendment and Biofertility initiative will concurrently be developed alongside its other programs in biocontrol, which include preplant soil fumigation, postharvest food preservation, and bioherbicide, which are currently under development with four global partners: Janssen PMP, Bayer, Sumitomo Corporation, and NexusBioAg.

TerraSante^TM for Soil and Ecological Health

Soil is a farmer’s most valuable and precious asset, and MustGrow’s plant-based technologies are being developed to improve not only the health of the soil, but also the surrounding ecological environment.

As a soil conditioner in mixable form, TerraSante^TM contains nutritious plant proteins and carbohydrates that feed soil microbes, potentionally improving beneficial microbial activity and ensuring long-term sustainable soil health. These targeted micro-communities are shown to work to improve nutrient availability, which can potentially increase plant vigor and yields, while reducing plant stress.  TerraSante^TM has the potential to improve crop nutrient uptake and, hence, overall crop performance.  There are no artificial additives or preservatives used during manufacturing.

MustGrow is initially pursuing TerraSante^TM branded registrations in North America for Soil Amendment applications, followed by formulations and brands targeting the Biofertility markets.  The Soil Amendment and Biofertility products will utilize multiple technologies derived from novel plant-based extracts from mustard and potentially other sources.

Soil Amendment and Biofertility Marketplace

The global fertilizer market is anticipated to reach US$242 billion by 2030, up from US$193 billion in 2021 (2.5% CAGR).⁽¹⁾  This aggregate fertilizer figure includes the following sub-markets, which MustGrow intends to target with TerraSante^TM and potentially other branded products:

• Soil Amendment: estimated market size in 2022 was US$3.5 billion and is expected to be US$8.0 billion by 2030 (11.0% CAGR).⁽²⁾
• Biofertility: estimated market size in 2021 was US$2.7 billion and is estimated to be US$7.0 billion by 2030 (12.3% CAGR).⁽³⁾

Combined, these additional market segments have the potential to add over US$15 billion of target market opportunity globably for MustGrow by 2030, almost double from the initially targeted Biocontrol market

Alternatives to Synthetic Fertilizers are Needed

With the world’s population expanding, agriculture production and global food security are increasingly important. Fertilizers continue to play a critical role in agriculture, yet plans to reduce their use have been amplified in recent years to minimize the negative consequences of climate change through emission reduction strategies. Canada, for example, has set a voluntary national fertilizer emissions reduction target of 30% below 2020 levels by 2030 to lower greenhouse gas emissions.⁽²⁾ Sustainable, climate-friendly solutions may play a role in helping to offset this reduction while balancing the nation’s economic health. For example, Canada’s fertilizer industry directly and indirectly supports over 76,000 jobs and contributes nearly C$13 billion to Canadian GDP.⁽²⁾

The European Green Deal is targeting a 20% reduction in fertilizer use by 2030, while also ensuring no deterioration in soil fertility, as part of the European Commission’s aim to reduce nutrient losses by at least 50% by 2030.⁽³⁾ Fertilizer reduction is a key element of the broader Green Deal target of a minimum 55% net reduction in greenhouse gas emissions by 2030.⁽⁴⁾

Weighing fertilizer reduction targets versus the need to increase farm production, farm profitability, economic growth and global food security points to sustainable Soil Amendment and Biofertility innovation and development as one potential key agriculture solution.

Source:
1) Statista, Fortune Business, Polaris Market Research.
2) https://fertilizercanada.ca/our-focus/stewardship/emissions-reduction-initiative/
3) https://agriculture.ec.europa.eu/system/files/2022-02/factsheet-farmtofork-comparison-table_en_0.pdf
4) https://commission.europa.eu/strategy-and-policy/priorities-2019-2024/european-green-deal_en

——-

About MustGrow

MustGrow is an agriculture biotech company developing organic biocontrol, soil amendment and biofertility products by harnessing the natural defense mechanism and organic materials of the mustard plant to sustainably protect the global food supply and help farmers feed the world.  MustGrow and its leading global partners — Janssen PMP (pharmaceutical division of Johnson & Johnson), Bayer, Sumitomo Corporation, and Univar Solutions’ NexusBioAg — are developing mustard-based organic solutions to potentially replace harmful synthetic chemicals.  Concurrenly, with new formulations derived from food-grade mustard, the Compmany is pursuing the adoption and use of its technology in the soil amendment and biofertily markets.  Over 150 independent tests have been completed, validating MustGrow’s safe and effective approach to crop and food protection and yield enhancements.  Pending regulatory approval, MustGrow’s patented liquid products could be applied through injection, standard drip or spray equipment, improving functionality and performance features.  Now a platform technology, MustGrow and its global partners are pursuing applications in several different industries from preplant soil treatment and weed control, to postharvest disease control and food preservation, to soil amendment and biofertility.  MustGrow has approximately 49.7 million basic common shares issued and outstanding and 55.6 million shares fully diluted.  For further details, please visit www.mustgrow.ca.

ON BEHALF OF THE BOARD

“Corey Giasson”

Director & CEO
Phone: +1-306-668-2652
info@mustgrow.ca

MustGrow Forward-Looking Statements

Certain statements included in this news release constitute “forward-looking statements” which involve known and unknown risks, uncertainties and other factors that may affect the results, performance or achievements of MustGrow.

Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “will”, “would”, “might”, “occur” or “be achieved”.  Examples of forward-looking statements in this news release include, among others, statements MustGrow makes regarding: (i) the development and commercialization of MustGrow’s soil amendment, biofertility and biocontrol technologies; (ii) the expansion of MustGrow’s development work across the United States; (iii) commercial-scale adoption; (iv) the potential benefits and performance of TerraSante^TM; and (v) the global fertilizer market and sub-markets.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of MustGrow to differ materially from those discussed in such forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, MustGrow.  Important factors that could cause MustGrow’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) the preferences and choices of agricultural regulators with respect to product approval timelines; (ii) the ability of MustGrow’s partners to meet obligations under their respective agreements; and (iii) other risks described in more detail in MustGrow’s Annual Information Form for the year ended December 31, 2021 and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities which are available at www.sedar.com.  Readers are referred to such documents for more detailed information about MustGrow, which is subject to the qualifications, assumptions and notes set forth therein.

This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.

Neither the TSXV, nor their Regulation Services Provider (as that term is defined in the policies of the TSXV), nor the OTC Markets has approved the contents of this release or accepts responsibility for the adequacy or accuracy of this release.

Research News and Market Data on MGROF

• Exclusive agreement with Janssen PMP, a division of Janssen Pharmaceutica NV, to test MustGrow’s mustard-based postharvest food storage preservation technologies for certain applications globally has been extended.
• Janssen PMP will continue to fund and drive all testing and development work.

SASKATOON, Saskatchewan, Canada, May 23, 2023 – MustGrow Biologics Corp. (TSXV: MGRO) (OTC: MGROF) (FRA: 0C0) (the “Company“, “MustGrow“), and JANSSEN PMP, a division of Janssen Pharmaceutica NV, one of the Janssen Pharmaceutical Companies of Johnson & Johnson (NYSE: JNJ) (“Janssen PMP“) have signed an extension to the Exclusive Evaluation and Option Agreement (the “Agreement“) to test and develop MustGrow’s biological mustard plant-based technologies for certain postharvest food preservation storage applications globally.

Pursuant to the Agreement, MustGrow had granted Janssen PMP the exclusive right to test MustGrow’s mustard-based technologies for postharvest storage preservation of fruits and vegetables globally, excluding grains, potatoes, bananas and shipping container fumigation. After a year of testing and determining multiple potential commercial pathways, the companies have decided to extend the Agreement to continue the development of MustGrow’s natural technologies. As specified in the Agreement, Janssen PMP will fund and drive all application testing and development work.

“In post-harvest, the need for technologies derived from nature remains very high. Janssen PMP sees a great potential in the use of the MustGrow technology in extending shelf life of fruits and vegetables. This is the reason why we decided to extend our global exclusive partnership with MustGrow,” said Geoffroy de Chabot-Tramecourt, Director R&D and Business Development at Janssen PMP.

“Over a year ago, prior to our partnership with Janssen PMP, the postharvest fruit and vegetable preservation application was a bluesky opportunity for MustGrow, and as such, we needed a partner with expertise in this particular area. Janssen PMP delivers this expertise, has been a great partner, and we are excited to continue collaborating with them,” commented Corey Giasson, MustGrow’s CEO. “We are very pleased with their work, which has generated significant learnings for both companies in this new area for our technology. This partnership is important, as food preservation is a critical global issue. We believe that using MustGrow’s technology as a postharvest treatment in fruits and vegetables may help secure a safe, environmentally sustainable food supply, with less waste.”

Fruit and vegetable crops play a critical role in global food nutrition. More than one-third of produce (worth approximately US$1 trillion in value) is lost or wasted in postharvest operations,⁽¹⁾ which includes loss attributed to fungal and bacterial diseases. Fresh vegetables are highly perishable living tissues that are particularly susceptible. Postharvest fungal and bacterial diseases can cause annual vegetable crop losses of 40–60%.⁽²⁾ Reducing postharvest losses could increase food availability, reducing pressure on the mounting food supply shortage and global inflationary pressures with respect to food prices. In addition, food production could be more environmentally sustainable with less waste. 

Sources:

• https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5296677/
• https://www.intechopen.com/online-first/79995

About JANSSEN PMP

Janssen PMP (https://www.janssenpmp.com/) is a division of Janssen Pharmaceutica NV, one of the Janssen Pharmaceutical Companies of Johnson & Johnson. The Janssen Pharmaceutical Companies of Johnson & Johnson are dedicated to addressing and solving some of the most important unmet medical needs of our time in oncology, immunology, neuroscience, infectious diseases and vaccines, and cardiovascular and metabolic diseases.

Janssen PMP is a long-established world leader in the development and formulation of new and highly effective active substances and end-use products for the protection of materials and food, especially fruits and vegetables. With more than 50 years’ experience in Post-Harvest treatments and Plant Protection, Janssen PMP has developed strong technical and commercial expertise. Through protection of our surroundings, we aim to protect the health and well-being of the people in the environment in which our products are being used.

ON BEHALF OF JANSSEN PMP

Geoffroy de Chabot-Tramecourt

Director R&D and Business Development

Turnhoutseweg 30, 2340 Beerse, Belgium

Tel: +32 14 60 28 57

Mobile: +32 471 80 82 09

Email: gdchabot@its.jnj.com

About MustGrow

MustGrow is an agriculture biotech company developing organic biocontrol, soil amendment and biofertility products by harnessing the natural defense mechanism and organic materials of the mustard plant to sustainably protect the global food supply and help farmers feed the world. MustGrow and its leading global partners — Janssen PMP (pharmaceutical division of Johnson & Johnson), Bayer, Sumitomo Corporation, and Univar Solutions’ NexusBioAg — are developing mustard-based organic solutions to potentially replace harmful synthetic chemicals. Concurrently, with new formulations derived from food-grade mustard, the Company is pursuing the adoption and use of its technology in the soil amendment and biofertily markets. Over 150 independent tests have been completed, validating MustGrow’s safe and effective approach to crop and food protection and yield enhancements. Pending regulatory approval, MustGrow’s patented liquid products could be applied through injection, standard drip or spray equipment, improving functionality and performance features. Now a platform technology, MustGrow and its global partners are pursuing applications in several different industries from preplant soil treatment and weed control, to postharvest disease control and food preservation, to soil amendment and biofertility. MustGrow has approximately 49.7 million basic common shares issued and outstanding and 55.6 million common shares fully diluted. For further details, please visit www.mustgrow.ca.

ON BEHALF OF THE BOARD

“Corey Giasson”

Director & CEO

Phone: +1-306-668-2652

info@mustgrow.ca

MustGrow Forward-Looking Statements

Certain statements included in this news release constitute “forward-looking statements” which involve known and unknown risks, uncertainties and other factors that may affect the results, performance or achievements of MustGrow.

Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Examples of forward-looking statements in this news release include, among others, statements MustGrow makes regarding: (i) the continued development of its organic mustard-derived crop protection and food preservation technologies; (ii) the potential of MustGrow technology to extend shelf life of fruits and vegetables; (iii) the ability of the Company’s technology as a postharvest treatment to help secure a safe, environmentally sustainable food supply, with less waste; and (iv) the ability to increase food availability and reduce pressure on the food supply shortage and global inflationary pressures with respect to food prices, by reducing postharvest losses.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of MustGrow to differ materially from those discussed in such forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, MustGrow. Important factors that could cause MustGrow’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) the preferences and choices of agricultural regulators with respect to product approval timelines; (ii) the ability of MustGrow’s partners to meet obligations under their respective agreements; and (iii) other risks described in more detail in MustGrow’s Annual Information Form for the year ended December 31, 2022 and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities which are available at www.sedar.com. Readers are referred to such documents for more detailed information about MustGrow, which is subject to the qualifications, assumptions and notes set forth therein.

This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.

Neither the TSXV, nor their Regulation Services Provider (as that term is defined in the policies of the TSXV), nor the OTC Markets has approved the contents of this release or accepts responsibility for the adequacy or accuracy of this release.

© 2023 MustGrow Biologics Corp. All rights reserved.

Research News and Market Data on MGROF

• Plant-based programs to focus on soil and microbiome health, nutrient and water use efficiencies, and plant yields.
• Products to utilize multiple plant-derived extracts in addition to (and including) the mustard plant to improve beneficial microbial activity and soil health.
• Soil Amendment and Biofertility are expected to increase MustGrow’s target market opportunity in addition to its existing Biocontrol focus.
• Existing Biocontrol partnerships continue to achieve performance milestones and expand globally in scope and investment.

SASKATOON, Saskatchewan, Canada, Apr. 18, 2023 – MustGrow Biologics Corp. (TSXV: MGRO) (OTC: MGROF) (FRA: 0C0) (the “Company” or “MustGrow”), is pleased to report an additional area of sustainable agriculture opportunity that the Company will be pursuing in the soil amendment (“Soil Amendment”) and biofertility (“Biofertility”) marketplaces. MustGrow’s Soil Amendment and Biofertility development programs will focus on soil and soil microbiome health, nutrient and water use efficiencies, and plant yields.

Throughout 2022, MustGrow engaged in extensive market research, formulation activities, and prospective partnership discussions, and has now added Soil Amendment and Biofertility programs to its growing list of global target applications, which now covers: preplant soil fumigation (under the brand name TerraMG^TM), postharvest food preservation and bioherbicide (together “Biocontrol”), and now Soil Amendment and Biofertility applications.

MustGrow believes this Soil Amendment and Biofertility initiative will complement its existing Biocontrol programs in preplant soil fumigation, postharvest food preservation, and bioherbicide, all of which are currently under development with four global partners: Janssen PMP, Bayer, Sumitomo Corporation, and NexusBioAg. These partnered programs continue to achieve performance milestones and expand globally in scope and investment. MustGrow believes 2023 will be a pivotal year for commercial and strategic advancement in certain regions and crops.

Introducing TerraSante^TM for Soil and Ecological Health

Soil is a farmer’s most valuable and precious asset, and MustGrow’s plant-based technologies are being developed to improve not only the health of the soil, but also the surrounding ecological environment.

As a soil conditioner in mixable form, TerraSante^TM contains nutritious plant proteins and carbohydrates that feed soil microbes, potentionally improving beneficial microbial activity and ensuring long-term sustainable soil health. These targeted micro-communities are shown to work to improve nutrient availability, which can potentially increase plant vigor and yields, while reducing plant stress. TerraSante^TM has the potential to improve crop nutrient uptake and, hence, overall crop performance. There are no artificial additives or preservatives used during manufacturing.

MustGrow is initially pursuing TerraSante^TM branded registrations in North America for Soil Amendment applications, followed by formulations and brands targeting the Biofertility markets.  The Soil Amendment and Biofertility products will utilize multiple technologies derived from novel plant-based extracts from mustard and potentially other sources.

Soil Amendment and Biofertility Marketplace

The global fertilizer market is anticipated to be US$242 billion by 2030, up from US$193 billion in 2021 (2.5% CAGR).⁽¹⁾  This aggregate fertilizer figure includes the following sub-markets, which MustGrow will target with TerraSante^TM and potentially other branded products:

• Soil Amendment: estimated market size in 2022 was US$3.5 billion and is expected to be US$8.0 billion by 2030 (11.0% CAGR).⁽²⁾
• Biofertility: estimated market size in 2021 was US$2.7 billion and is estimated to be US$7.0 billion by 2030 (12.3% CAGR).⁽³⁾

Combined, these additional market segments add over US$15 billion of target market opportunity globably for MustGrow by 2030, almost double from the initially targeted Biocontrol market.

Alternatives to Synthetic Fertilizers are Needed

With the world’s population expanding, improving agriculture production and ensuring global food security are becoming increasingly important. Fertilizers continue to play a critical role in agriculture, although plans to reduce their use have been amplified in recent years in order to implement emission reduction strategies and minimize the negative consequences of climate change. Canada, for example, has set a voluntary national fertilizer emissions reduction target of 30% below 2020 levels by 2030 to lower greenhouse gas emissions. Sustainable, climate-friendly solutions will be required to offset this reduction while balancing the nation’s economic health, since, in Canada alone, the fertilizer industry directly and indirectly supports over 76,000 jobs and contributes nearly C$13 billion to Canadian GDP.⁽⁴⁾

The European Green Deal is also targeting a 20% reduction in fertilizer use by 2030, while ensuring no deterioration in soil fertility, as part of the European Commission’s aim to reduce nutrient losses by at least 50% by 2030.⁽⁵⁾ Fertilizer reduction is a key element of the broader Green Deal target of a minimum 55% net reduction in greenhouse gas emissions by 2030.⁽⁶⁾

Weighing fertilizer reduction targets against the need to increase farm production, farm profitability, economic growth and global food security points to sustainable Soil Amendment and Biofertility innovation and development as a key agriculture solution.

Source:

1) https://www.statista.com/statistics/1266004/global-fertilizer-market-size/
2) https://www.businessmarketinsights.com/reports/soil-amendments-market
3) https://www.polarismarketresearch.com/industry-analysis/global-biofertilizers-market
4) https://fertilizercanada.ca/our-focus/stewardship/emissions-reduction-initiative/
5) https://agriculture.ec.europa.eu/system/files/2022-02/factsheet-farmtofork-comparison-table_en_0.pdf
6) https://commission.europa.eu/strategy-and-policy/priorities-2019-2024/european-green-deal_en

———

About MustGrow

MustGrow is an agriculture biotech company developing organic Biocontrol, Soil Amendment and Biofertility products by harnessing the natural defense mechanism and organic materials of the mustard plant to sustainably protect the global food supply and help farmers feed the world.  MustGrow and its leading global partners — Janssen PMP (pharmaceutical division of Johnson & Johnson), Bayer, Sumitomo Corporation, and Univar Solutions’ NexusBioAg — are developing mustard-based organic solutions to potentially replace harmful synthetic chemicals.  Concurrenly, with new formulations derived from food-grade mustard, the Company is pursusing the adoption and use of it’s technology in the target markets.  Over 150 independent tests have been completed, validating MustGrow’s safe and effective approach to crop and food protection, and yield and soil improvements.  Pending regulatory approval, MustGrow’s patented products could be applied through injection, standard drip or spray equipment, improving functionality and performance features.  MustGrow has approximately 49.7 million basic common shares issued and outstanding and 55.6 million shares fully diluted.  For further details, please visit www.mustgrow.ca.

ON BEHALF OF THE BOARD

“Corey Giasson”

Director & CEO
Phone: +1-306-668-2652
info@mustgrow.ca

MustGrow Forward-Looking Statements

Certain statements included in this news release constitute “forward-looking statements” which involve known and unknown risks, uncertainties and other factors that may affect the results, performance or achievements of MustGrow.

Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”.  Examples of forward-looking statements in this news release include, among others, statements MustGrow makes regarding: (i) the estimated size and value of Soil Amendment, Biofertility, Fertilizer markets; (ii) commercial and strategic advancement of the Company in 2023; and (iii) the potential of TerraSante^TM to improve overall crop performance.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of MustGrow to differ materially from those discussed in such forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, MustGrow.  Important factors that could cause MustGrow’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) the preferences and choices of agricultural regulators with respect to product approval timelines; (ii) the ability of MustGrow’s partners to meet obligations under their respective agreements; and (iii) other risks described in more detail in MustGrow’s Annual Information Form for the year ended December 31, 2021 and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities which are available at www.sedar.com.  Readers are referred to such documents for more detailed information about MustGrow, which is subject to the qualifications, assumptions and notes set forth therein.

This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.

Neither the TSXV, nor their Regulation Services Provider (as that term is defined in the policies of the TSXV), nor the OTC Markets has approved the contents of this release or accepts responsibility for the adequacy or accuracy of this release.

© 2023 MustGrow Biologics Corp. All rights reserved.