Benzinga | Jun 1, 2021 08:33AM EDT

Bioceres Crop Solutions Receives Approval Of HB4 Drought Tolerant Soybean In Canada

Approval adds over 2.0 million hectares to HB4 soybean opportunity

Leverage ongoing breeding efforts for the US

Novel trait stack to help growers facing climate and production challenges

Bioceres Crop Solutions Corp. ("Bioceres" or the "Company") (NASDAQ:BIOX), a fully-integrated global provider of crop productivity solutions designed to enable the transition of agriculture towards carbon neutrality, announced today it has successfully completed the regulatory review process and received approval for its HB4 drought and herbicide tolerant soybeans from the Canadian Health Agency and the Canadian Food Inspection Agency.

With approximately 2.5 million hectares farmed every year and yields often below three tonnes per hectare, Canada's soybean production regions are well suited for HB4 value generation. Ongoing breeding efforts for the Dakotas and Minnesota region in the United States will now expand to southern Canada, reaching a total of 10 million hectares targeted with the HB4 varieties under development.

Currently, HB4 soybean is approved for production in the United States, Brazil, Argentina and Paraguay, collectively representing, together with Canada, 85% of the world's hectarage dedicated to the crop.

The Canadian agriculture industry is a pioneer and global leader in identity preserved production systems, providing a uniquely qualified community of growers for the Generation HB4 Program -- the Company's identity preserved HB4 seed production system under regenerative agricultural practices.

For more information about Bioceres' HB4 technology and related products, please refer to the Company's HB4 white paper at: https://investors.biocerescrops.com/events-and-presentations/default.aspx