MustGrow Biologics Corp. (CSE: MGRO) (OTC: MGROF) (FSE: 0C0) is pleased to announce successful laboratory test results of its patented mustard-derived biopesticide on Aphanomyces euteiches zoospores (“Aphanomyces“) via an independent third party facility: 100% control at economic application rates within 24 hours. MustGrow will now advance to larger scale greenhouse and field tests. Study results and applicability are patent-protected under MustGrow’s existing suite of issued patents.
MustGrow’s remarkably safe and effective organic biopesticide is plant-based – harnessing the mustard seed’s natural defense mechanism to control diseases, pests, and weeds with an organic food-grade biopesticide.
Aphanomyces is a water mould pathogen responsible for root-rot disease, infecting a variety of peas, lentils and other legumes collectively referred to as pulse crops. The disease causes severe root damage and wilting, with yield losses ranging from 10% to 100% in infected fields (1). Canada is one of the world’s largest producers (~9.2 million tons; 2019) and exporters of pulse crops (2). Industry experts conservatively estimate $20 million in annual pulse crop losses in Canada and $100 million globally caused by Aphanomyces (1). Current treatment measures cannot control Aphanomyces – they are only able to slow down the spread and reduce the incidence and severity of the disease.
“It is great to see MustGrow’s mustard plant-based biopesticide continue to perform, particularly with 100% disease control measured at exceptionally low application rates. The level of control of hard-to-kill diseases we continue to achieve combined with the beneficial properties of our product for soil health provide a great opportunity for improved yields for farmers and a more robust food supply,” remarked Colin Bletsky, COO of MustGrow. “I am very hopeful that we can potentially provide a valuable crop-protection tool for pulse crop farmers.”
Plant-Based Crop Protection for Plant-Based Protein
MustGrow feels it makes both logical and ecological sense to protect plant-based protein crops with plant-based crop protection inputs. MustGrow’s product is a pre-plant soil treatment, meaning application to the soil occurs before crops are planted. Application of MustGrow’s biopesticide returns organic plant material to the soil through this pre-plant treatment process as a potential alternative to using synthetic chemicals.
According to MarketsandMarkets and analysis by EY-Parthenon, the global plant-based protein market size is projected to grow from US$12 billion in 2019 to US$28 billion by 2025 (CAGR of 15%). This is attributed to several drivers, predominantly rising consumer health-consciousness, growing prevalence of protein-rich pulse crop food products, and technological innovations in plant-based protein extraction. To accommodate the rise of plant-based protein demand, Fior Markets estimates the global pulse crops market will grow from US$16.2 billion in 2017 to US$24.3 billion by 2025 (CAGR of 5.2%).
The interest in MustGrow’s plant-based biopesticide is increasing as farmers, consumers and investors seek ‘natural biological’ alternatives to synthetic chemical pesticides. Adverse global climate and weather events are expected to negatively impact food supply for a growing human population. Warmer temperatures are expected to increase pest infestations and with more pests there will be more damage to crops. The development of safe and effective biopesticides will be critical for future food security and environmentally sustainable agriculture.
(1) Globenewswire, 3rd party market research, MustGrow estimates
MustGrow is a publicly traded (CSE: MGRO) (OTC: MGROF) (FSE: 0C0) agriculture biotech company focused on providing natural science-based biological solutions for high value crops, including fruits & vegetables and other industries. MustGrow has designed and owns a U.S. EPA-approved natural solution that uses the mustard seed’s natural defence mechanism to protect plants from pests and diseases. Over 110 independent tests have been completed, validating MustGrow’s safe and effective signature products. The product, in granule format, is EPA-approved across all key U.S. states and by Health Canada’s PMRA (Pest Management Regulatory Agency) as a biopesticide for high value crops such as in fruit & vegetables. MustGrow has now concentrated a liquid format, TerraMG, and with regulatory approval, could be applied through standard drip or spray equipment, improving functionality and performance features. In addition, this new mustard-derived technology could have other applications in several different industries from pre-plant soil treatment to post harvest pest and disease control.
The Company has approximately 40.7 million basic common shares issued and outstanding and 50.6 million shares fully diluted. For further details please visit www.mustgrow.ca.
ON BEHALF OF THE BOARD
Director & CEO
Certain statements included in this press release constitute “forward-looking statements” which involve known and unknown risks, uncertainties and other factors that may affect the results, performance or achievements of MustGrow.
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These risks are described in more detail in MustGrow’s Prospectus and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities and available at www.sedar.com. Readers are referred to such documents for more detailed information about MustGrow, which is subject to the qualifications, assumptions and notes set forth therein.
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