Lavie Bio Ltd., a subsidiary of Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), a leading ag-biologicals company that develops microbiome-based, computational-driven bio-stimulant and bio-pesticide novel products, announced a distribution agreement exclusive to independent retail with WinField United Canada for its bio-inoculant seed treatment Yalos™. This partnership aims to support Lavie Bio's 2024 sales growth strategy in Canada, with a focus on key agricultural regions, including Saskatchewan, Alberta, and Manitoba, where Yalos™ targets spring wheat, durum, and barley crops.
The distribution agreement with WinField United Canada remains on point with Lavie Bio's strategy, further advancing the company's sales and distribution capability throughout Canada and the United States. Lavie Bio's intent is to engage with additional complimentary distribution partners to expand its sales reach throughout North America.
Global cereal grain prices have made it highly economical for growers to explore innovative ways to increase cereal grain production. In Lavie Bio's third-party conducted trials, Yalos™ demonstrated a yield advantage of 3-4 bushels per acre in wheat, durum, and barley. The trial data Lavie Bio compiled over multiple years and unique environmental conditions illustrates a 4:1 return on investment (ROI) for farmers, given current market values. Furthermore, Yalos™ requires minimal change to a farmers' existing seed treatment process and aligns with the environmental sustainability needs.
Mr. Greg McDonald, President and General Manager of WinField United Canada, stated: "WinField United Canada is excited to partner with Lavie Bio in an exclusive independent retailer distribution agreement on Yalos™. We are committed to the success of independent retailers across Canada, bringing them unique product offerings and partnerships such as this one with Lavie Bio. With Lavie Bio's expertise in biological solutions and WinField United's proven track record in successfully launching new products and distribution expertise, we look forward to this new partnership. It further advances our commitment to drive innovation in crop production across Canada."
Mr. Russel Putland, EVP Commercial & GM North America of Lavie Bio, stated: "I am very pleased with our WinField United Canada partnership. The distribution agreement expands our market reach and capability as we launch Yalos™ in Canada. WinField United Canada has a proven track record of launching innovative products, which supports our strategy and the adoption of Yalos™. We are proud to introduce, together with WinField, a product that will increase profitability for the Canadian farmer and is also environmentally friendly."
Yalos™ is a microbial based inoculant, that has been designed to empower plant performance based on its ability to improve the availability and efficiency of nutrient use, thereby increasing yield, and improving growers' profitability, while contributing to environmental sustainability and soil health. Yalos™ is a water dispersible granule (WDG) and is to be applied as a seed treatment.