Arcadia Biosciences and Farmer’s Business Network, Inc. Announce Partnership for Arcadia’s GoodWheat™
June 27 2018 - 4:00AM
Business Wire
– Collaboration will scale-up grower base
for identity-preserved specialty wheat varieties and improve grower
economics –
Arcadia Biosciences, Inc. (Nasdaq: RKDA), an agricultural food
ingredient company, and Farmer’s Business Network, Inc.
(FBN℠), the independent farmer-to-farmer network, today
announced a partnership to expand the grower base of Arcadia’s
family of specialty wheat varieties, GoodWheat™. This new
collaboration enables the FBN Direct℠ inputs
platform to distribute Arcadia’s identity-preserved GoodWheat seeds
to growers in its network, aiming to increase farmer profitability
over commodity wheat.
This agreement is a critical milestone in the development of
Arcadia’s supply chain and its ability to scale its specialty wheat
production to meet the demand anticipated following commercial
launch in 2019. The FBN network has been rapidly growing its
analytics, agricultural inputs distribution infrastructure, farmer
member base and geographical reach, now representing over 24
million acres in the United States and Canada.
Arcadia’s GoodWheat is a non-transgenic (non-GM) portfolio of
innovative wheat quality traits, including high fiber resistant
starch, reduced gluten and others. GoodWheat was developed to add
value to the entire wheat supply chain, from seed to table, by
enabling a wider range of healthy choices to meet evolving consumer
demands. Arcadia believes farmers can improve their economics by
growing these premium specialty grains instead of commodity wheat.
In addition, food manufacturers can differentiate their products by
integrating these new GoodWheat varieties directly into their food
formulations.
“With their commitment to innovation and growing network of
premier farmers, the FBN network is an ideal partner to help us
build capacity for our specialty wheat varieties,” said Raj Ketkar,
Arcadia’s president and CEO. “Arcadia’s GoodWheat branded
ingredients will provide consumers with healthier choices in their
favorite foods, and the high demand for these premium products will
enable improved economics for wheat growers.”
“This important partnership with Arcadia provides our members
access to grow specialty, identity-preserved GoodWheat and enables
them to earn a premium over commodity wheat,” said Amol Deshpande,
CEO and co-founder of the FBN network. “Together, we are working to
improve the economics of wheat production for farmers and bring
wheat buyers a unique high-value crop.”
About Arcadia Biosciences, Inc.
Arcadia Biosciences, Inc. (Nasdaq: RKDA) develops and markets
high-value food ingredients and nutritional oils that help meet
consumer demand for a healthier diet. Arcadia’s GoodWheat™ branded
ingredients deliver health benefits to consumers and enable
consumer packaged goods companies to differentiate their brands in
the marketplace. The company’s portfolio of agricultural traits are
being developed to enable farmers around the world to be more
productive and minimize the impact of agriculture on the
environment. For more information, visit www.arcadiabio.com.
About Farmer’s Business Network, Inc.
Farmer’s Business Network, Inc. is an independent
farmer-to-farmer network that aims to enhance farmer profitability
by providing farmers comprehensive farm, seed and input analytics
and price intelligence based on over 150 million acre events of
real-world precision agronomic data. The FBN Direct e-commerce
platform provides national, transparent pricing on ag chemicals,
fertilizers, seeds, technology and services. FBN Crop Marketing
provides farms premium contracts, production contracts, risk
management and price intelligence powered by a global buyer
network. The FBN network has grown to over 24 million acres of
member farms in the U.S. and Canada.
The FBN network’s mission of creating a better farm economy has
earned the support of world-class technology investors GV (formerly
Google Ventures), DBL Partners, Kleiner Perkins Caufield Byers LLP,
Bow Capital, Acre Venture Partners, Temasek and T. Rowe Price. To
learn more, visit: www.farmersbusinessnetwork.com.
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially,
and reported results should not be considered as an indication of
future performance. These risks and uncertainties include, but are
not limited to: Arcadia’s and its partners’ and affiliates’ ability
to develop commercial products incorporating their traits, and
complete the regulatory review process for such products; Arcadia’s
compliance with laws and regulations that impact Arcadia’s
business, and changes to such laws and regulations; Arcadia’s
future capital requirements and ability to satisfy its capital
needs; and the other risks set forth in Arcadia’s filings with the
Securities and Exchange Commission from time to time, including the
risks set forth in Arcadia’s Annual Report on Form 10-K for the
year ended December 31, 2017 and other filings. These
forward-looking statements speak only as of the date hereof, and
Arcadia Biosciences, Inc. disclaims any obligation to update these
forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20180627005438/en/
Arcadia BiosciencesJeff Bergau,
+1-312-217-0419jeff.bergau@arcadiabio.comorFarmer’s Business
Network, Inc.Megan Fallon,
+1-612-877-0387mfallon@farmersbusinessnetwork.com
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