CSR Sugar and SyngentaCrop Protection AG today announced the signing of an exclusive worldwide research and commercialisation license agreement for CSR’s SugarBooster™ gene technology which enables the development of novel sugars and sugarcane varieties with increased sugar content.
The patented SugarBooster™ technology was invented at The University of Queensland, Australia, and developed under a collaboration between them, UniQuest and CSR. SugarBooster™ has primary global application in the increase of sugar yields for food and biofuel production in key sugar crops.
Under the new agreement, Syngenta has obtained exclusive rights outside of Australia to further develop and use the SugarBooster™ technology. CSR receives milestone payments from Syngenta and royalties from sales outside of Australia, and also retains the commercialisation rights within Australia to maximise the benefit of SugarBooster™ to the Australian industry.
CSR Sugar CEO, Ian Glasson said: “While commercial release is not expected for at least several years, this agreement with Syngenta will accelerate the potential development of the new high-yielding varieties. This will assist CSR Sugar in improving Australian sugar industry sustainability through new products and increased efficiency in the production of sugar and biofuels.”
"This research is an important component of CSR’s ongoing commitment to supporting innovation within the Australian sugar industry and we’re pleased to be partnering with Syngenta to make that happen,” Mr Glasson said.
CSR’s Sugar and Renewable Energy business is the market leader in raw sugar milling and refining in Australia and has market-leading positions in ethanol production and cogeneration of renewable energy. CSR has been directly involved in research, development and breeding of new sugarcane varieties in Australia for over 100 years.
Burrill & Co. of San Francisco, U.S.A. acted as adviser to CSR Sugar on the transaction.