Grace Breeding Ltd. (the "Company" or "Grace Breeding") (TASE: GRAC), an AgClimateTech company developing sustainable biological-based products to improve crop yield and vigor, secures commercialization approval for its NFT Proprietary Bio-Fertilizer, under the soon-to-be-trademarked brand AddirTM. The approval represents Grace Breeding's first authorization within the EU bloc, enabling it to gain expedited endorsements in several other key EU member states due to "mutual recognition" agreements.
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In May 2023, Grace Breeding's NFT solution achieved registration approval in Brazil, marking its first national approval. Entering the Brazilian commercial fertilizer market was the culmination of year-long tests on the solution, which demonstrated NFT's ability to reduce harmful greenhouse gas emissions while also boosting yields in corn plants.
Addir's registration in Austria, under the "Soil Improver" category, enables the product to enter the nation's commercial marketplace, providing farmers with an all-natural and sustainable fertilizer alternative. The registration was obtained with the support of the Scientific Consulting Company (SCC) GmbH and was granted by the Austrian Federal Office for Food Safety in accordance with the Austrian Federal Fertilizer Act of 2021. Addir's registration within Austria covers its use on wheat and corn, crops which account for 43 percent of all nitrogen fertilizer usage in the E.U.
Grace Breeding's Proprietary Bio-Fertilizer allows farmers to significantly reduce their dependence on synthetic fertilizers such as urea, a nitrogen-based fertilizer harmful to the environment. The use of NFT, which is more economically viable and boosts carbon sequestration, has proven to lower carbon emissions, crucial in combating global warming.
"The war in Ukraine, which has severely disrupted the supply of synthetic fertilizers, has really opened the eyes of lawmakers and regulators to the need for alternatives," says Assaf Dotan, CEO of Grace Breeding. "Our NFT Proprietary Bio-Fertilizer, under the AddirTM brand, now has a foothold in the lucrative EU marketplace, sustainably filling a void caused by the tragic war. After confirming NFT's ability to reduce greenhouse gas emissions and boost yields, we were able to gain approval within Brazil, a key market, and look to keep up the momentum in Europe."
