ICL has acquired microbial-based agricultural solution developer Lavie Bio.
"This move is a direct reflection of ICL's vision to become a global powerhouse in agricultural biologicals, positioning ICL at the forefront of one of agriculture's sustainable practices," says Dr Elinor Erez, vice president of research and development at ICL.
© ICL
It marks ICL's fourth acquisition over the past 12 months, demonstrating its dedication to creating innovative, customized solutions for the farm sector. In January, the firm bought GreenBest, a UK-based manufacturer specialising in bespoke fertilizers for the horticulture, sports turf, and landscape sectors.
And last year it acquired Nitro 1000; a Brazilian developer of biostimulants, and CAF; a North American provider of bespoke agricultural formulations like liquid adjuvants and enhanced nutrients.
These acquisitions sit alongside a $2.5m (£2.05m) investment in a cutting-edge new biological research and development centre in Israel. "This ties in with our overall strategy of developing groundbreaking products to improve global food security and sustainability," notes Dr Erez. "It also positions the business for continued growth in new and adjacent markets."
Two projects are already in advanced stages - focused on cotton and soyabean crops in the US and Brazil - leveraging Lavie Bio's cutting-edge technology and ICL's agronomic expertise and global footprint.
"Future products will be focused on improving soil health and reducing emissions, ensuring sustainable agriculture, with a lower carbon footprint," says Dr Erez. "In addition, farmers will benefit from higher yields and resistance to different abiotic stresses, ultimately benefiting their bottom line in a volatile market."
For more information:
ICL Group
www.icl-sf.ie