Indianapolis, Indiana, USA
October 12, 2011
Stevia Corporation, a farm management company focused on the economic development of Stevia, the fastest growing product of the alternative sweetening sector, is pleased to announce it has entered into a two-year development agreement with Agro Genesis Pte. Ltd., a leading agribusiness solution provider based in Singapore.
The agreement provides that Stevia Corp. will be the exclusive distributor for Agro Genesis' novel crop production technique known as the "g'farm system" as it applies to the growing of Stevia. The g'farm system uses best-in-class sustainable farming practices and chemical-free solutions to produce crops. This means that in keeping with sustainable agriculture principles, the g'farm system incorporates variety screening, crop rotation, comprehensive nutrient management and soil conservation to implement best management practices in crop production.
The agreement ensures that all technology-related patents (e.g. new varieties, cultivation programs, harvest and post-harvest processes) resulting from the project will be co-owned by Stevia Corp. and Agro Genesis with Stevia Corp. maintaining the right of first refusal for the use and distribution rights of yielded patents.
Mr. George Blankenbaker, Stevia Corp. President, comments, "We are very pleased by this arrangement with Agro Genesis, as their practices are truly superior and we believe this agreement will significantly spur our growth in the sector. Given the rapid global adoption of Stevia, the market is expanding at an amazing rate and we are enthusiastically committed to placing ourselves firmly in the forefront of the opportunity Stevia clearly represents."
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