Menlo Park, California
December 1, 2004
Landec Corporation
(Nasdaq:LNDC), a developer and marketer of technology-based
polymer products for food, agricultural and licensed partner
applications, today announced that its seed subsidiary, Landec
Ag, Inc. has reported that its Intellicoat(R) Early Plant(R)
coated corn technology has achieved significant yield results in
the 2004 harvest, confirming the value of using Intellicoat
Early Plant coated corn to plant corn seed earlier than normal.
"Yield results this season have
validated the importance of our Early Plant coating technology
and timely planting," said Tom Crowley, Landec Ag President and
CEO. "We have seen record corn yields this year. In parts of the
northern Corn Belt, farmers have seen corn with Intellicoat
Early Plant coatings out-yield late-planted corn by over 40
bushels per acre. These differences really show the value of the
Intellicoat technology."
In a typical planting season,
there is a narrow window of one to two weeks of optimum soil
temperature for planting seed corn. Often farmers end up
planting 20%-25% of the seeds late. Late planting often produces
lower yields and requires more drying thus increasing costs and
lowering profits.
The patented Intellicoat Early
Plant corn is designed to allow corn farmers to safely and
reliably plant hybrid corn three to four weeks earlier than
normal, by using Landec Ag's proprietary Intellicoat coating
which prevents germination until the soil reaches the optimal
soil germination temperature. Without this protective coating,
planting earlier in cold, wet soil could cause poor or no
germination to occur. Intellicoat Early Plant corn provides the
farmer with a wider planting window, which effectively lowers
costs, reduces risks associated with late planting and
potentially increases yields across the entire farming
operation.
During 2004 when cold, wet
early spring conditions caused many farmers in the northern Corn
Belt to miss their optimum planting dates, and lack of heat
units in the spring and summer caused slower corn growth than
normal, Intellicoat Early Plant coated corn delivered important
benefits in yield and dry-down versus corn planted after the
optimum period. Farmers who used Intellicoat Early Plant
coatings could easily see the rewards of getting a portion of
their corn planted earlier than normal.
Chris Jefferies, President of
Ohio-based seed company Seed Consultants, said, "Our data shows
that Intellicoat Early Plant coated corn can mean as much as 43
more bushels per acre versus late-planted corn." Jefferies
added, "Getting a few extra days of planting by using the
Intellicoat technology can advance a farmer's whole planting
schedule seven to ten days. For some farmers that means the
difference between getting everything planted on time or
suffering yield loss from late planting."
Steve Ottilie, President of
Ottilie Seed said, "We established an early plant corn program
versus planting late. Using the Intellicoat Early Plant coated
corn we averaged 38 bushels more per acre versus corn that was
planted on May 25th. When you add on extra drying costs for late
planted corn, you can experience a $125 per acre added value on
a $14 per acre investment for the protection with Intellicoat
technology. Intellicoat technology is an excellent management
tool for farmers to help manage their risks."
"The 2004 growing season was
the first year of broader commercial use for Intellicoat Early
Plant coated corn following a number of years of R&D and
commercial trials. Intellicoat Early Plant coated corn is
currently marketed through ten seed partners up from six for
last year. The measurable benefits to our customers in 2004, and
in prior years, strengthen our already positive outlook for
continued growth in the use of Intellicoat Early Plant coated
corn," added Tom Crowley.
In addition, Landec Ag produces
and sells Intellicoat Pollinator Plus(R) coatings used by more
than thirty seed companies involved in the production of hybrid
seed corn. In this application, the coating delays germination
of the male inbred seed. This widens the pollination window,
minimizing risks and reducing production costs in the production
of seed corn. Seed companies continue to increase their use of
this technology.
Also on the commercial horizon
is another Intellicoat application, Relay(TM) Intercropping of
wheat and Intellicoat coated soybeans. This application enables
central and northern Corn Belt farmers, whose growing season is
normally too short for double cropping, to successfully
inter-plant coated soybeans into 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.
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. |