February 9, 2018

Biological crop nutrition products company Agrinos has announced the completion of a $15 million private placement of new shares with the support of long-term investors Manor Investment, Havfonn AS, and EuroChem Group AG.  The net proceeds from the equity investment will be used to support the company’s growth strategy, as well as research and development for an enhanced product pipeline.

“Agrinos is committed to being a leader in the agriculture bio-innovation sector. We have a strong track record of product performance in a wide range of crops around the globe and this will drive continued sales growth for the company,” said Agrinos CEO Kevin Helash. “Our shareholders’ renewed financial commitment underscores their belief in the future of Agrinos and our mission to help customers improve crop yields in an environmentally sustainable manner.”

Significant Growth Expected in the Biologicals Market

The biologicals market includes biopesticides, biofertilizers, and biostimulants, which due to increased regulation and a growing focus on sustainable practices, are commanding an increasing share of the market.  According to a just released report by ResearchandMarkets.com, the agricultural biologicals market is estimated to have had a value of USD $6.75 billion in 2017, and is projected to reach USD $12.86 billion by 2022, which translates to a compound annual growth rate of nearly 14 percent.

That market reality is reflected in the reasoning behind EuroChem’s participation in the tranche, as explained by Rudolf Graf von Plettenberg, EuroChem Head of Premium Products and Development. “EuroChem fully supports sustainable agriculture, and our investment in Agrinos demonstrates our commitment to this cause. We believe the partnership between EuroChem and Agrinos will enable us to continue combining our strengths in product innovation and to develop the most effective and environmentally-sustainable products for farmers.”

As part of the equity investment, Frederic de Stexhe, a principal at Manor, has joined Agrinos as a new member of the board of directors.

By David Nitchman, GAI Media