ZeaKal is tackling one of the toughest challenges in agriculture: sustainably increasing the value of the world’s major crops. Its PhotoSeed™ technology is the first seed trait to optimize how plants fix energy: enabling crops to harvest more sunlight, capture more carbon dioxide, and produce more harvestable material. Canopy Rivers believes that PhotoSeed™ could be game-changing for hemp cultivators and participated in ZeaKal’s Series C financing round.
"With the support of Canopy Rivers and our investors, ZeaKal is well positioned for growth and is bringing a new trait to market independently," said Han Chen, Co-Founder and CEO of ZeaKal. "This is quite rare for start-ups, but we believe our nimbleness allows us to experiment with new business models and accelerate timelines for bringing new products to agriculture."
Since joining the Canopy Rivers portfolio, ZeaKal announced promising research results from multi-year field trials of PhotoSeed™ soybeans: increasing the per acre production of oil by 18% and protein by 3% without any reductions in seed yield. These results support Canopy Rivers’ thesis that this technology may help cultivators grow greater quantities of high quality hemp with a smaller environmental footprint.
“Canopy Rivers has been transformational for the company in several ways,” continued Chen. “Strategically, the investment brought us into the hemp space. The market intelligence, strategic insight, and networks allowed us to establish a competitive position in the novel genetics space.”
In the coming months, ZeaKal intends to accelerate its first products to market for soy while broadening its portfolio to include other crops. The company’s first hemp plants treated with PhotoSeed™ are expected to come out of the lab in 2021. ZeaKal anticipates similar increases in hemp productivity and composition as observed with its other crop programs.
This is not an offer to sell or a recommendation to trade in any securities. This information is provided as of the date hereof. This document contains data obtained from third parties that Canopy Rivers has not independently verified. This document also contains forward-looking information within the meaning of Canadian securities law, which is based on certain assumptions. While management believes these assumptions are reasonable based on information available as of the current date, they may prove to be incorrect. Many assumptions are based on factors outside of Canopy Rivers’ control and actual results may differ materially from current expectations. Forward-looking information involves risks, including, but not limited to, the risk factors set out in Canopy Rivers’ most recent Management’s Discussion and Analysis and Annual Information Form. You should not place undue reliance on forward-looking information. Except as required by applicable law, Canopy Rivers assumes no obligation to update or revise any forward-looking information to reflect new events or circumstances.
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