Agrium Inc., through its subsidiary Loveland Products, Inc. announced today that it has closed on the acquisition of Starpharma Holdings Limited’s agrochemical business focused on development of its proprietary Priostar® dendrimer polymer technology portfolio for $35 million.
The acquisition is comprised of key intellectual property, as well as a small number of dedicated staff based in Melbourne, Australia. These assets will support Agrium’s innovation and technology strategy through the ability to continue providing unique proprietary products that address existing and emerging grower challenges.
This acquisition will lay the foundation for the continued development and commercialization of the Priostar® dendrimer polymer technology across a broad base of Loveland Products’ crop protection and specialty nutrition products, improving product performance and further enhancing Agrium Retail’s full solutions offering to growers. This technology has proven to provide numerous benefits including better weed control capabilities, formulation stability and reduced environmental impacts.
“This acquisition represents an exciting strategic technology platform for Loveland Products that will serve to further differentiate our proprietary product line and open new product development partnership opportunities. Agrium is uniquely positioned to commercialize this technology across our 1,500 ag-retail centers, which service hundreds of thousands of growers in key agricultural markets globally,” said Chuck Magro, President & CEO of Agrium.
France has launched an offshore green hydrogen production platform at the country’s Port of Saint-Nazaire this week, along with its first offshore wind farm. The hydrogen plant, which its operators say is the world’s first facility of its type, coincides with the launch of another “first of its kind” facility in Sweden dedicated to storing hydrogen in an underground lined rock cavern (LRC).
The project sets up the Hydrogen Valley in Rome, the first industrial-scale technological hub for the development of the national supply chain for the production, transport, storage and use of hydrogen for the decarbonization of industrial processes and for sustainable mobility.
At first glance, hydrogen seems to be the perfect solution to our energy needs. It doesn’t produce any carbon dioxide when used. It can store energy for long periods of time. It doesn’t leave behind hazardous waste materials, like nuclear does. And it doesn’t require large swathes of land to be flooded, like hydroelectricity. Seems too good to be true. So…what’s the catch?