Chromatin, Inc. Acquires Sorghum Partners, Inc. (SPI) and Milo Genetics, LP
CHICAGO, IL – April 28, 2010 – Today, Chromatin, Inc. announces that
the company has acquired the assets of Sorghum Partners, Inc. (SPI) and
Milo Genetics, LP. The transaction provides Chromatin with access to SPI’s
well-established multi-national network of sorghum growers and distributors
as well as existing sorghum seed production facilities, representing over 7%
of the sorghum hybrid market in the US. The deal also provides Chromatin
with commercially viable germplasm from Milo Genetics, which is
underpinned by decades of experience in providing quality products to the
market. The integration of SPI and Milo Genetics further accelerates
Chromatin’s efforts to commercialize a portfolio of proprietary sorghum lines
as bioenergy feedstocks.
Chromatin is committed to sorghum as a pathway for sustainable biomass
production and feedstock improvement. As the only energy crop that can
provide starch, sugar and lignocellulose, sorghum holds unmatched
versatility for traditional and advanced liquid biofuels production as well as
for applications in emerging sectors such as green power and renewable
chemicals. Chromatin is using its technology platform to optimize sorghum
from an agronomic perspective and as an energy crop by designing its
compositional attributes to match the unique needs and process
specifications of bioprocessors.
“Sorghum is ideally suited as the energy crop for the future,” said Larry
McDowell, SPI’s President, and Chromatin’s Director of Seed Operations.
“Sorghum is adapted to 80% of the world’s agricultural land, is very drought
tolerant, is extremely efficient on less than optimum soils, and has a very
favorable carbon footprint compared to other major grain crops. By joining
forces with Chromatin, we will speed the development and distribution of
SORGHUM PARTNERS®
advanced sorghum bioenergy feedstocks worldwide, while continuing to
support our existing customers. This is truly a step forward for sorghum.”
With this strategic acquisition, Chromatin now has the opportunity to further
leverage the credibility of the trusted SORGHUM PARTNERS® BRAND and the
company’s valued relationships with growers and sales agents, positioning
Chromatin to rapidly access new markets, diversify and increase production
volumes and grow recurring revenues.
“Today’s bioprocessors are underserved by commodity feedstocks,” said
Daphne Preuss, CEO of Chromatin. “Our emerging energy crop industry is in
great need of market-ready products that can be sustainably and
domestically produced, are cost competitive and are targeted at driving value
for growers and bioprocessors. Chromatin now has the capabilities to
develop and market products specifically designed to improve bioenergy
yields and to accelerate renewable energy production,” said Preuss.
About Chromatin
Chromatin, Inc. is a biotech company developing and marketing innovative
technologies and products that benefit the agricultural, energy, chemical,
nutritional, and pharmaceutical sectors. Since 2000, the company has
successfully developed and commercialized its proprietary gene stacking
technology, which can be used to simultaneously, and precisely introduce
multiple genes in any plant. Now, by deploying a broad and unique
intellectual property platform, Chromatin is developing specialized sorghum
feedstocks for the renewables industry. These next generation, high-quality
feedstocks are being designed by Chromatin’s elite team of experts to meet
the precise yield and performance requirements of the bioprocessing
industry. For additional information visit www.chromatininc.com.
About Sorghum Partners
Sorghum Partners, Inc. develops, markets and distributes SORGHUM
PARTNERS® BRAND hybrid sorghum seed worldwide. Sorghum farmers in
North America, South America, Central America, Europe, The Middle East,
Africa and Asia rely on SORGHUM PARTNERS BRAND hybrid sorghum seed
to produce the food, feed, and fuel needed in today’s fast paced world.
Sorghum Partners, Inc. produces only hybrid sorghum seed. Sorghum
Partners, Inc. is devoted to helping farmers better understand and take
advantage of the unlimited uses for sorghum through technology, plant
breeding, innovative production and marketing. For additional information
visit www.sorghum-partners.com.
