Performance Plants and The Scotts Miracle-Gro Company (NYSE: SMG) announce an exclusive worldwide license agreement for the development and commercialization of Performance Plants’ Yield Protection Technology™ (YPT™) in turf grass and ornamentals for the professional and consumer markets.

The deal follows four years of successful field trials by Performance Plants, which have shown the Yield Protection Technology™ to be highly effective 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” said 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.”

“ScottsMiracle-Gro is committed to the development of innovative products that help our customers in both the consumer and professional markets,” said 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” said Dr. David Dennis, president and chief executive officer, 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.”

Performance Plants Inc., founded in 1995, focuses on gene evaluation and the development of agronomically important plant traits. Performance Plants creates value by bringing innovative crop technologies to the market. The Company has established global product development agreements with strategic partners in the corn, soybean, turf and ornamentals markets. The Company’s head office and Gene and Trait Discovery Centre are located in Kingston, Ontario. Its Crop Development Centre is in Saskatoon, Saskatchewan.

With more than $2.3 billion in worldwide sales and more than 6,000 associates, The Scotts Miracle-Gro Company, through its wholly-owned subsidiary, The Scotts Company LLC, is the world's largest marketer of branded consumer products for lawn and garden care, with products for professional horticulture as well. The Company's brands are the most recognized in the industry. In the U.S., the Company's Scotts®, Miracle-Gro® and Ortho® brands are market-leaders in their categories, as is the consumer Roundup® brand, which is marketed in North America and most of Europe exclusively by Scotts and owned by Monsanto. The Company also owns Smith & Hawken, a leading brand of garden-inspired products that includes pottery, watering equipment, gardening tools, outdoor furniture and live goods. Additionally, the Company owns Morning Song®, a leading brand in the wild bird food category. In Europe, Scotts' brands include Weedol®, Pathclear®, Evergreen®, Levington®, Miracle-Gro®, KB®, Fertiligene® and Substral®.