Menlo Park, California
March 12, 2002
Landec Corporation
(Nasdaq: LNDC), announced today that its wholly owned
agricultural subsidiary, Landec Ag, Inc., realized successful
results in 2001 from its Intellicoat(R) coated Early Plant(TM)
hybrid corn program.
As part of its market introduction, Landec Ag's patented
Intellicoat polymer coatings for corn seed were tested
extensively in university and research trials, while at the same
time sold commercially to farmers under the Fielder's Choice
Direct(R) brand. The coated seeds were sold and used
successfully on 150 farms covering over 3,000 acres across 21
states in a variety of growing conditions. The farmers who used
the coated seeds provided the field data and critical feedback
which has been analyzed and summarized.
The program results demonstrate that the Intellicoat Early Plant
hybrid corn coatings improved yields of hybrid corn that was
planted two to three weeks earlier than normal planting dates.
The Intellicoat coated seeds provided higher plant populations,
more uniform emergence and achieved better yields in comparison
to uncoated seeds planted at the same time. Intellicoat coated
seeds showed an average yield advantage over uncoated seeds
planted at the same time and even more importantly, an advantage
over uncoated seeds planted at the normal corn planting date.
"We were able to see good yield improvements from seeds coated
with Intellicoat polymer this past spring which was generally a
mild spring weather-wise. We would expect even greater yield
improvement during cold, harsh spring conditions," states Tom
Crowley, Landec Ag President and CEO. "Landec Ag has evaluated
the Intellicoat Early Plant hybrid corn technology for two years
and will broadly launch Intellicoat Early Plant hybrid corn
products in 2003. In addition to selling directly to farmers, we
expect our technology to be commercially licensed to other seed
companies in the next couple of years."
Because of the positive results in 2001, Landec Ag has initiated
collaborations with a number of the industry's top seed corn
companies. Eight of the top US seed companies will conduct
separate evaluations of the Intellicoat Early Plant hybrid corn
technology on their own hybrids during 2002. Successful results
could lead to licensed partnerships as early as 2003.
For the upcoming 2002 growing season, Landec Ag will expand its
commercial sales of Intellicoat Early Plant hybrid corn, through
Fielder's Choice Direct, to over 500 farms covering between
17,000 to 20,000 acres, up from 150 farms and 3,000 acres in
2001.
"Those farmers already aware of the technology are very excited
about the potential," added Crowley. "A study recently conducted
by an independent market research company indicated one in four
corn acres could eventually be planted with this technology as
it becomes widely available." The total corn acres in the US
alone represent approximately 78 million acres annually with an
annual market value of approximately $2 billion per year.
Intellicoat seed coatings for early planting prevent planted
seeds from absorbing water when the ground temperature is below
the coating's pre-set temperature switch. Intellicoat seed
coatings are designed to enable seeds to be planted early into
cold soils without risk of chilling damage caused by the
absorption of water at cold soil temperatures. As soil
temperatures rise to a pre-determined switch temperature, the
polymer's permeability increases and the coated seed absorbs
water and begins to germinate. This allows the seed to have
uniform germination, good stand counts and increased yields,
giving the farmer more flexibility and better utilization of
equipment and labor.
Another Intellicoat technology, known as Pollinator Plus(TM), is
already being used by 30 major seed companies in the production
of hybrid seed corn. In this application, the coating delays
germination of the male inbred corn in order to widen the
pollination window to increase yields, minimize risks in the
production of seed corn and reduce production costs. Seed
companies are rapidly increasing their use of this technology.
In 2002 Pollinator Plus will be planted on approximately 50,000
acres as compared to 20,000 acres in 2001.
Also on the commercial horizon is another Intellicoat
application, Relay(TM) Intercropping of wheat and Intellicoat
coated soybeans, that enables central and northern Corn Belt
farmers, whose growing season is normally too short for double
cropping, to successfully inter-plant coated soybeans between
rows of wheat and gain more revenue by harvesting two crops off
the same field in the same year. This Intellicoat application is
in its third year of successful commercial on-farm trials.
For more information about Intellicoat Early Plant Technology,
and to receive a copy of the program results call Landec Ag,
Inc. 1-800-241-7252.
Landec Corporation designs, develops, manufactures and sells
temperature-activated and other specialty polymer products for a
variety of food, agricultural and licensed partner applications.
The Company's temperature-activated polymer products are based
on its proprietary Intelimer(R) polymers which differ from other
polymers in that they can be customized to abruptly change their
physical characteristics when heated or cooled through a pre-set
temperature switch.
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