Key Takeaways:
- Above Food’s subsidiary, Discovery Seed Labs, has developed a new molecular assay to detect Group 11 resistance in anthracnose disease affecting lentil crops.
- The innovation addresses a critical need for lentil growers, especially in Saskatchewan, where resistance is widespread.
- The assay enables targeted disease management, helping growers improve yields and reduce costs.
- This development strengthens Above Food’s position as a leader in disruptive agriculture solutions.
Above Food Unveils Innovative Assay for Lentil Disease Management
Above Food Ingredients Inc. (Nasdaq: ABVE, ABVEW) (“Above Food” or the “Company”), an innovative food company known for its vertically integrated supply chain, has announced a significant advancement in agricultural technology. Its subsidiary, Discovery Seed Labs, in collaboration with BASF Canada Inc. (“BASF”), has successfully developed a quantitative molecular assay to detect Group 11 resistance in anthracnose, a disease that severely impacts lentil crops.
Critical Innovation for Lentil Growers
This breakthrough comes at a crucial time for lentil growers, particularly in Saskatchewan, where recent research by BASF revealed alarming levels of Group 11 resistance in anthracnose. The study found that 99% of sampled fields exhibited some resistance, with 66% showing over 80% resistance. This widespread resistance has posed a significant challenge for growers, making effective disease management more difficult and threatening crop yields.
Targeted Disease Management for Better Yields
The new molecular assay developed by Discovery Seed Labs can detect Group 11 resistant anthracnose in both plant and seed samples. This capability provides growers with valuable data to implement more targeted and effective disease management strategies. By accurately identifying resistant strains, farmers can make informed decisions about fungicide use, crop rotation, and other management practices, ultimately saving costs and improving crop yields.
“We’re excited to announce this development which amplifies our disruptive agriculture business and strengthens our comprehensive differentiated seed-to-fork platform,” said Lionel Kambeitz, Founder, President, Chief Executive Officer, and Executive Chairman of Above Food. “By accurately identifying resistant strains, growers can make more informed decisions about disease management and fungicide use, saving costs and improving yields. This innovation not only supports our growers in producing high-quality, disease-resistant crops but also reinforces our position as a leader in furthering disruptive agriculture solutions.”
Above Food Corp. Latest News
Above Food Expands U.S. Presence with Strategic Acquisition (2024/08/12)
Above Food Ingredients Inc. (Nasdaq: ABVE, ABVE.W) has entered into a definitive agreement to acquire the Specialty Crop Food Ingredient Division of The Redwood Group, LLC (TRG) for $34 million. The acquisition marks a significant milestone for Above Food, establishing its first physical facilities in the U.S. and broadening its reach in the rapidly growing pet food market. The purchase price includes $8.1 million in cash and 5.6 million newly issued common shares of the company. This acquisition is strategically important for Above Food’s market share in the high-growth pet food sector and the expansion of its North American footprint. The acquisition is also expected to support the company’s Seed-to-Fork approach by adding new processing capacity and expanding the export business, particularly in the European market.
Above Food Corp. and Bite Acquisition Corp. Complete Business Combination, Shares to Begin Trading on Nasdaq (2024/07/01)
Above Food Corp., an innovative food company with a vertically integrated supply chain, has finalized its business combination with Bite Acquisition Corp. (NYSE AMERICAN: BITE), a special-purpose acquisition company. This merger resulted in Above Food Ingredients Inc. The business combination was approved at special shareholder meetings on June 7, 2024, and April 29, 2024, with the transaction closing on June 28, 2024. The shares and warrants of the newly formed company are set to begin trading on the Nasdaq Stock Market under the ticker symbols “ABVE” and “ABVE.W” starting July 1, 2024.
