Stamicarbon Buys Stake in Pursell
Maire Tecnimont SpA, Milan, reports that its subsidiary Stamicarbon, has acquired a 20 percent stake in Pursell Agri-Tech LLC, a U.S.-based start-up company specialized in developing and marketing polymer-coated, controlled-release fertilizers. The amount of Stamicarbon’s investment is equal to US$5.5 million.
Stamicarbon says Pursell Agri-Tech, Sylacauga, Alabama, has developed a new technology to coat fertilizers at competitive cost levels, to produce controlled-release fertilizers that are suitable for efficient fertilization of broad-acre commodity agricultural crops. The technology combines proprietary polymer compositions and a high-performance coating process to deliver a range of controlled-release fertilizers, notably urea, resulting in a highly sustainable crop nutrient solution that boosts farmers’ yields while also reducing the potential impact on the environment.
Stamicarbon and Pursell Agri-Tech have also entered into an industrial cooperation whereby Stamicarbon will be the exclusive global licensing partner, licensing the technology to interested parties outside North America, such as major urea producers, and large fertilizer producers or distributors, while Pursell Agri-Tech will develop with selected dedicated partners the North American market, where Stamicarbon will act as a non-exclusive licensing partner. The parties will also work closely together in an open innovation platform on the development of other new businesses and technologies.