Total Market Enlist E3™ Soybean Acreage Projections for 2020
Nearly Doubled; Licensees Increased by 20 Percent
WILMINGTON, Del., Jan. 30, 2020 /PRNewswire/ -- Corteva, Inc.
(NYSE: CTVA) today announced that the Company is accelerating the
ramp-up of Enlist E3™ soybeans to U.S. and Canadian farmers over
the next five years – reinforcing the Company's commitment to its
Enlist technology and continued focus on bringing greater choice
and value to growers. Corteva continues to see strong demand for
the technology from farmers, retailers and independent seed
companies; and expects planted acreage projections in 2020 to
approach 20 percent of the U.S. market – double original
expectations.
"The decision to accelerate production of Enlist E3
soybeans, along with the Enlist One® and Enlist
Duo® herbicides, ahead of the 2021 selling
season reflects our continued focus on rapidly ramping up
differentiated technology solutions that we expect will enable
greater choice and value for growers over time," said James C. Collins, Jr., Corteva Chief Executive
Officer. "Our Enlist weed control system illustrates the power of
Corteva across platforms, integrating seed and chemistry –
providing much-needed solutions to farmers that address complex
challenges, such as weed resistance, while strengthening Corteva's
proprietary trait offering."
Enlist E3 soybeans are an industry-leading triple-stack of
herbicide tolerance, jointly developed and owned by M.S.
Technologies, L.L.C. They incorporate glyphosate and glufosinate
and enable use of Corteva's new 2,4-D formulations in Enlist
One® and Enlist Duo® herbicides with
near-zero volatility and minimized potential for physical drift
when label directions are followed.
Solid on-farm performance of Enlist E3 soybeans last fall has
led to continued interest among growers and retailers, as well as
independent seed companies seeking to license this innovative
technology. More than 20 additional licensees have signed contracts
to access the technology, bringing total licensee agreements to
more than 120 in the United States
and Canada.
During the five-year ramp-up period, Corteva is expected to
significantly reduce the volume of products with the Roundup Ready
2 Yield® and Roundup Ready 2 Xtend® herbicide
tolerance traits beginning in 2021, with expected minimal use of
the trait platform after the completion of the ramp-up of the
Enlist weed control system.
The Company also announced that it recently received import
authorization in China for the
Conkesta™ soybean insect control trait, which will be offered as a
stack with the Enlist E3 soybean herbicide trait in Latin America in the early 2020s.
To learn more about the Enlist™ weed control
system, visit www.Enlist.com, follow Enlist on Twitter
at @EnlistOnline or go to the product YouTube
channel. For additional information about the status of
regulatory authorizations for agricultural biotechnology seed
products, please visit http://www.biotradestatus.com/.
About Corteva Agriscience
Corteva, Inc. (NYSE: CTVA)
is a publicly traded, global pure-play agriculture company that
provides farmers around the world with the most complete portfolio
in the industry - including a balanced and diverse mix of seed,
crop protection and digital solutions focused on maximizing
productivity to enhance yield and profitability. With some of the
most recognized brands in agriculture and an industry-leading
product and technology pipeline well positioned to drive growth,
the company is committed to working with stakeholders throughout
the food system as it fulfills its promise to enrich the lives of
those who produce and those who consume, ensuring progress for
generations to come. Corteva became an independent public company
on June 1, 2019 and was previously
the Agriculture Division of DowDuPont. More information can be
found at www.corteva.com.
Follow Corteva on Facebook, Instagram, LinkedIn, Twitter
and YouTube.
™, ®, ℠ Trademarks and service marks of Dow AgroSciences,
DuPont or Pioneer, and their affiliated companies or their
respective owners.
Roundup Ready 2 Xtend® and Roundup Ready 2
Yield® are trademarks of Bayer Group.
The transgenic soybean event in Enlist E3™ soybeans is jointly
developed and owned by Dow AgroSciences LLC and M.S. Technologies,
L.L.C. The Enlist weed control system is owned and developed by Dow
AgroSciences LLC. Enlist Duo® and Enlist One® herbicides are not
registered for sale or use in all states or counties. Contact your
state pesticide regulatory agency to determine if a product is
registered for sale or use in your area. Enlist Duo and
Enlist One are the only 2,4-D products authorized for use with
Enlist crops. Consult Enlist herbicide labels for weed species
controlled. Always read and follow label directions.
Cautionary Statement About Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended, and Section 27A of the Securities Act of 1933, as
amended, which may be identified by their use of words like
"plans," "expects," "will," "anticipates," "believes," "intends,"
"projects," "targets," "estimates" or other words of similar
meaning. All statements that address expectations or projections
about the future, including statements about Corteva's strategy for
growth, product development, regulatory approval, market position,
anticipated benefits of recent acquisitions, timing of anticipated
benefits from restructuring actions, outcome of contingencies, such
as litigation and environmental matters, expenditures, and
financial results, as well as expected benefits from, the
separation of Corteva from DowDuPont, are forward-looking
statements.
Forward-looking statements are based on certain assumptions
and expectations of future events which may not be accurate or
realized. Forward-looking statements also involve risks and
uncertainties, many of which are beyond Corteva's control.
Consequences of material differences in results as compared with
those anticipated in the forward-looking statements could include,
among other things, business disruption, operational problems,
financial loss, legal liability to third parties and similar risks,
any of which could have a material adverse effect on Corteva's
business, results of operations and financial condition.
Additionally, there may be other risks and uncertainties that
Corteva is unable to currently identify or that Corteva does not
currently expect to have a material impact on its business.
Where, in any forward-looking statement, an expectation or
belief as to future results or events is expressed, such
expectation or belief is based on the current plans and
expectations of Corteva's management and expressed in good faith
and believed to have a reasonable basis, but there can be no
assurance that the expectation or belief will result or be achieved
or accomplished. Corteva disclaims and does not undertake any
obligation to update or revise any forward-looking statement,
except as required by applicable law. A detailed discussion of some
of the significant risks and uncertainties which may cause results
and events to differ materially from such forward-looking
statements is included in Corteva's in the "Risk Factors"
section of Exhibit 99.1 of Amendment No. 4 to Corteva's
Registration Statement on Form 10 and its Quarterly Report on Form
10-Q for the Quarterly Period Ended September 30, 2019, as modified by subsequent
reports filed with the U.S. Securities and Exchange
Commission.
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SOURCE Corteva, Inc.