Key Takeaways
- Casterra Ag Ltd., a subsidiary of Evogene Ltd., is boosting its castor seed production through strategic agreements in Brazil and Africa.
- The company aims to add 400 tons to its production in 2024 and develop long-term production infrastructure.
- Utilizing Evogene’s GeneRator AI technology, Casterra has developed high-yield, high-oil castor seeds.
- These seeds boast a ~90% germination rate, surpassing industry standards.
- The expansion seeks to diversify production sources, ensuring a sustainable supply to meet customer demands.
Strengthening Global Castor Seed Production
Casterra Ag Ltd. (Profile), an innovator in the agriculture technology sector specializing in cultivating castor seeds for bio-based industries, has announced significant advancements in its production capabilities. As a part of its growth strategy, Casterra, under the aegis of Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), has entered into strategic partnerships with seed producers in Brazil and Africa. These collaborations are set to enhance the company’s output by approximately 400 tons in 2024, marking a pivotal step in establishing a robust, long-term production framework.
Diversification and Risk Mitigation
In an era where agricultural sustainability and diversification are paramount, Casterra’s initiative to expand its network of seed producers across multiple geographies is a forward-thinking move. By broadening its base of suppliers, Casterra aims to mitigate production risks and ensure a steady and reliable supply chain. This strategy benefits the company’s operational stability and contributes positively to local economies in Brazil and Africa, fostering sustainable agricultural practices.
Leveraging Cutting-Edge Technology
At the core of Casterra’s success is its reliance on Evogene’s GeneRator AI technology, which has played a crucial role in developing high-yielding, high-oil content castor seeds. These seeds have undergone rigorous testing and are celebrated for their exceptional cleanliness, successful phytosanitary test results, and outstanding germination rate of approximately 90%, significantly exceeding industry benchmarks. This technological advantage positions Casterra as a leader in producing superior-quality castor seeds, catering to the growing demands of bio-based industries, including biofuels and biopolymers.
A Vision for the Future
Under the leadership of Mr. Yoash Zohar, CEO of Casterra, the company is not resting on its laurels. “These agreements strengthen our supply chain and mark a strategic shift towards diversifying our production sources,” Zohar stated, emphasizing the importance of a reliable and sustainable castor seed supply to meet customers’ evolving needs. Casterra is committed to continuing its search for additional seed producers to collaborate with in 2024, aiming to bolster its seed production further.
