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Devgen’s NGHRTM-varieties show excellent performance in field trials in India and Southeast Asia

20/02/2012

Devgen nv (Euronext Brussels: DEVG), is pleased to report that the company is making good progress in its program to develop the Next Generation Hybrid Rice (NGHRTM).

NGHRTM-varieties are expected to offer farmers significant performance benefits over existing varieties, including substantially higher yields, improved production efficiency, better milling quality, suitability for mechanized seeding and better taste.

Since 2005, Devgen has undertaken a fundamental redesign of hybrid rice in order to develop NGHRTM. The company uses an advanced breeding platform that is considerably more efficient than existing hybrid rice technology. Devgen reports today the progress made in this program over the last year.

In 2011, Devgen’s researchers in India and the Philippines produced hundreds of new and proprietary hybrid rice varieties based on NGHRTM-technology. These were then tested during the July 2011 rice-growing season in multi-location trials in India, the Philippines and Vietnam. The recently completed data analysis identified a substantial number of NGHRTM-varieties that gave in these trials a more than 20% yield advantage over the best conventional varieties and a more than 10% yield advantage over the current-best hybrid rice varieties in the market.

Historical examples in many field crops (such as cotton, corn and sorghum) and in many vegetable crops, learn that farmers only prefer to plant hybrid varieties over conventional varieties once they offer a yield advantage of 20% or more. A substantial number of Devgen’s NGHR™-varieties now reach this commercial breakthrough threshold. The company is therefore confident that it is on track to deliver hybrid rice varieties that have the potential to fundamentally change the farmer’s economics and to drive the adoption of hybrid rice varieties in India and Southeast Asia.

The best NGHRTM-varieties identified in the 2011 season now undergo seed production research and are scheduled to enter multi-location performance trials in the upcoming planting season mid-2012. In January 2013, Devgen expects to select NGHRTM-varieties for pilot seed production and market entry through large-scale farmer trials in July 2013. The full start of sales is targeted in 2014.

“Devgen is on track to shape the field of hybrid rice in India and Southeast Asia,” stated Thierry Bogaert, CEO of Devgen. “The breakthrough trial results with our NGHRTM-varieties announced today may unlock for us the vast potential of the hybrid rice seed market in India and Southeast Asia that is estimated at more than 500,000 tons of seed per year.”

The company also expects to present an update shortly on new current-generation products for start of sales in India in 2012. These hybrid seeds are intended to further strengthen Devgen’s hybrid rice seed business and market access, in anticipation of Devgen’s NGHR™-varieties entering the market.

Rice is Asia’s most important food crop grown by millions of farmers on approximately 140 million hectares across the region, representing 90% of the worldwide rice acreage. India is the world’s largest rice producer, accounting for 20% of global rice production, but at present hybrid rice seeds account for less than 3% of the market due to the limitations of existing hybrids. This represents a significant market opportunity and Devgen is confident that its NGHRTM-varieties will be at the forefront of the conversion to hybrid rice in India and Southeast Asia by helping growers to meet the increasing need to grow more food on less land using less water, labour and agrochemicals.

About Devgen nv:

“Devgen shapes the field of hybrid rice across India and South East Asia”

Devgen’s mission is to deliver the next green revolution in rice to farmers in India and Southeast Asia.

Devgen uses advanced biotechnology and molecular breeding technology to develop the Next Generation Hybrid Rice (NGHRTM) and crop protection solutions with a superior environmental profile:

• Devgen develops the next generation of hybrid rice, improving yield, seed productivity, grain quality, and tolerance to biotic and abiotic stress factors. Devgen strongly believes that this hybrid rice technology has the potential to drive the accelerated conversion of conventional rice to hybrid rice.
• Anticipating the need to increase insect resistance and drought/heat tolerance in rice to a level that is beyond what can be achieved with classical breeding, Devgen creates a portfolio of biotech traits using own technology as well as in-licensed technologies.
• Devgen established an integrated seed business in India and Southeast Asia through which its rice crops and technologies reach the market. In India, Devgen complemented its hybrid rice business with geographically and seasonally complementary crops: hybrid sorghum, pearl millet and sunflower.
• In its Crop Protection unit, Devgen developed a novel nematicide, an agro-chemical product that protects crops from damage by parasitic nematodes. This product is currently sold in Turkey and was recently introduced on the market in the US.
• Devgen innovates in crop protection research and environment induced stress tolerance for its own crops and provides technology to corporate partners.

Incorporated in 1997, Devgen has offices in Ghent (Belgium), and has subsidiaries in Singapore, Hyderabad (India), Yogyakarta (Indonesia), General Santos (the Philippines) and Delaware (US), totaling over 250 staff.

Source: Devgen