Benzinga | Jun 23, 2021 12:38PM EDT

AgroFresh Solutions Partners With Know Hub Chile

* AgroFresh Solutions Inc (NASDAQ:AGFS) has announced an exclusive global licensing agreement with Know Hub Chile, a nonprofit organization that collaborates to transform science into innovation.

* The agreement will cover testing and potentially commercializing patent-pending technology for superficial scald control in apples and pears.

* Existing solutions to prevent scald (chilling injuries to pome fruits typically experienced during storage) often include Ethoxyquin or Diphenylamine (DPA). These antioxidant solutions have residue levels and are banned from use in the European Union.

* The new technology may provide a naturally derived solution to manage scald available for drench, dip, and fogging applications.

* "By commercializing more plant-based solutions and leveraging our deep global post-harvest expertise, AgroFresh continues its commitment to help reduce food loss and waste for pome fruit across the produce industry," said Clint Lewis, Chief Executive Officer.

* Price action: AGFS shares are trading lower by 0.24% at $2.07 on the last check Wednesday.