On Wednesday, UPL, the world's largest manufacturer and distributor of biosolutions, announced the acquisition of OptiCHOS, a naturally derived fungicide, for its Natural Plant Protection (NPP) business unit, whose offering contains naturally and biologically derived agricultural inputs and technologies.
OptiCHOS is a fungicide that controls a wide spectrum of diseases related to the proliferation of fungi in crops. In addition, it has the advantage of causing a slight impact on the products in which it is applied, leaves no residues and is biodegradable, which causes a low environmental and human impact. The active ingredients of OptiCHOS were developed from by-products rich in chitin, a natural polymer that can be found in the exoskeleton of invertebrates.
The product was acquired by UPL from BioCHOS, a spin-off from the Norwegian University of Life Sciences. The transaction includes patents and data packages that allow OptiCHOS to be mixed with a wide range of fungicides.
The fungicide has already been submitted for approval for use in the European Union. Meanwhile, UPL stated that it has initiated operations to identify potential markets for OptiCHOS, and will initiate the registration and approval processes in those locations.
These are not the only moves the firm has made recently: UPL's NPP announced a strategic collaboration agreement between the company and Kimitec's MAAVI Innovation Center. This agreement provides for the development and supply of innovative biosolutions that promote optimal plant development, better yields and improved final crop quality.
Regarding the participation of the actors involved, the MAAVI Innovation Center will provide the necessary technology, while Kimitec, a Spanish multinational company dedicated to the research, development and commercialization of biosolutions, will provide the distribution rights for five biostimulant and nutritional products that UPL will register and then distribute to numerous crops in the United States.
The five products to be marketed by UPL through this collaboration are:
- ALFAA soil amendment based on a combination of two soil probiotics, which optimizes access to water and nutrients in crops. ALFA is being registered for vegetable crops, strawberries and berries, nuts (almond and pistachio), pome and citrus fruit trees, vineyards and extensive crops. OMRI approval is pending.
- MOTO: A plant nutritional supplement that supplies nitrogen to crops and may help optimize conditions for resistance to abiotic stress. It is being registered for cotton, soybean, corn, vegetables, citrus and fruit trees, grapes, berries and root and tuber crops
- VELEXIA fermented concentrate of soil prebiotics designed to promote the activity of soil microorganisms, leading to improved aeration, nutrient availability and root development. It is being registered for cereals, corn, sunflower, sugar beets, soybeans, pulses and cotton. OMRI approval is pending.
- SERENIS: A root enhancement liquid formulation. It aids in the improved development of the plant’s root system. Registered crops will include greenhouse and outdoor vegetables, pome fruits, citrus, strawberries and vine crops. OMRI approval is pending.
- CEVO: A liquid fertilizer developed to provide nitrogen to crops from a unique formulation process which combines enzymatic hydrolysis and bacterial fermentation. It supports plant metabolism at critical stages for better plant performance. It will be registered for certain vegetables, fruits, strawberries, vine crops and cereals. OMRI approval is pending.
UPL's net profit increased by 24.89% to Rs. 1,179 million. This, thanks to a 23.78% increase in income from operations, which amounted to Rs. 11,297 in the third fiscal quarter of 2022 compared to the third fiscal quarter of 2021.
