Performance Plants and The Scotts Miracle-Gro Company announced an exclusive worldwide license agreement for the development and commercialization of Performance Plants’ Yield Protection Technology (YPT) in turfgrass and ornamentals for the professional and consumer markets.
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The deal follows four years of field trials by Performance Plants, which have tested Protection Technology and its effectiveness in protecting agronomic crops from water stress.
“These results indicate that turf grass can be developed that will withstand the effects of drought and significantly improve water use efficiency,” says Peter Matthewman, executive vice president, Performance Plants. “Similarly, the retail shelf life of ornamentals can be enhanced, and consumers will benefit from drought tolerance and potential water savings.”
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“ScottsMiracle-Gro is committed to the development of innovative products that help our customers in both the consumer and professional markets,” says Dr. David Stalker, senior vice president, Biotechnology, ScottsMiracle-Gro. “We are excited about the potential applications for the Yield Protection Technology and its environmental impact on water use efficiency.”
“Our research indicates that the Yield Protection Technology can enable a crop to withstand a period of short-term drought stress which will allow greater flexibility for water application and potentially a reduction in the total water requirement,” says Dr. David Dennis, president and c.e.o., Performance Plants. “Our license with Scotts provides access to the rapidly growing professional and consumer markets and will be in addition to our focus on the major agronomic markets.”