Imminent Mandate by the Republic of Turkey to DNA-Tag Fertilizer Expected to Drive Demand for DNA-Tagged Fertilizers; Company to Introduce DNA-Tagged Fertilizers to Additional Markets
Demand Driven by Supply Chain Needs for Product Purity and Security, First Country to Mandate DNA Tagging of All Domestic Fertilizers
STONY BROOK, N.Y.--(BUSINESS WIRE)-- Applied DNA Sciences, Inc. (NASDAQ: APDN; “Applied DNA”, “the Company”), today announced that it will introduce DNA-tagged fertilizer to Turkey and countries in West Africa and Asia following strong interest in the use of the Company’s molecular tagging technology to prevent fertilizer adulteration, secure supply chains to the global farming industry and track the origin of fertilizers used for nefarious purpose. Early planning workshops indicate new tagged fertilizer may enter targeted markets during early calendar 2018 and additional locations thereafter throughout calendar 2018.
Applied DNA previously completed a pilot project for the large-scale molecular tagging of fertilizer that was successfully tracked through a West African supply chain. Following this success, the Company began to determine how best to introduce DNA-tagged fertilizer and associated authentication systems, into new markets. According to a 2015 study by the Food and Agriculture Organization of the United Nations, Asia is the largest consumer of fertilizer in the world, accounting for 60% of total fertilizer consumption.
In the Republic of Turkey, legislators have mandated DNA-tagging of all domestically produced fertilizer by January 1, 2018, and secure packaging, including the use of secured bar codes which could possibly be enabled by the platform recently commercialized through the Videojet and Applied DNA collaboration. This mandate comes in response to a series of acts of terror that utilized fertilizer-based explosives in Turkey in 2016. Applied DNA has been in communication with Turkish fertilizer manufacturers since early 2016 and to the Company’s knowledge, is the only company to have publicly demonstrated the capacity to tag fertilizer at scale and successfully track it through all aspects of the supply chain. As of this date, the Company has no specific orders from Turkey. Applied DNA is also developing a method it believes will allow detection of fertilizer tags, even after an explosion. This would allow governments and law enforcement to track the origins of fertilizers used in improvised explosive devices.
“The introduction of our technology platform to these additional geographies that cumulatively represent the majority of world demand for fertilizer is a clear demonstration of our ability to service large commercial ecosystems,” said Dr. James Hayward, president and CEO of Applied DNA. “From textiles to the biopharma industry and now fertilizer, our technology platform is increasingly being viewed by supply chain participants as strategic to their business goals.“
Tony Benson, managing director of Applied DNA in Europe, stated, “Tracking fertilizers in a large, complex commercial ecosystem is an unmet demand required by farmers and governments, especially those dependent upon their agro economies. Our solution is practical, and readily implemented.”
Continued Mr. Benson, ”The impact of our technology and the significant benefits to at-risk families in countries where many people are already disadvantaged cannot be over-estimated. People are starving and economies are suffering due to the blatant cheating that is taking place of which there are many published examples of fertilizers being adulterated leading to crop failures. We are delighted and humbled to be part of a technical solution that will positively change the wellbeing of so many people.”
About Applied DNA Sciences
Applied DNA is a provider of molecular technologies that enable supply chain security, anti-counterfeiting and anti-theft technology, product genotyping and DNA mass production for diagnostics and therapeutics.
We make life real and safe by providing innovative, molecular-based technology solutions and services that can help protect products, brands, entire supply chains, and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion. The proprietary DNA-based “CertainT®” platform can be used to identify, tag, test, and track products, to help assure authenticity, origin, traceability, sustainability and quality of products.
SigNature® DNA describes the core technology ingredient that is at the heart of a family of uncopiable, security and authentication solutions such as SigNature® T and fiberTyping®, targeted toward textiles and apparel, BackTrac™ and DNAnet®, for anti-theft and loss prevention, and digitalDNA®, providing powerful track-and-trace. All provide a forensic chain of evidence, and can be used to prosecute perpetrators. Applied DNA Sciences is also engaged in the large-scale production of specific DNA sequences using the polymerase chain reaction.
The Company’s common stock is listed on NASDAQ under the symbol APDN, and its warrants are listed under the symbol APDNW.
The statements made by Applied DNA in this press release may be “forward-looking” in nature within the meaning of the Private Securities Litigation Act of 1995. Forward-looking statements describe Applied DNA’s future plans, projections, strategies and expectations, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of APDN. Actual results could differ materially from those projected due to our short operating history, limited financial resources, limited market acceptance, market competition and various other factors detailed from time to time in Applied DNA’s SEC reports and filings, including our Annual Report on Form 10-K filed on December 6, 2016, and our subsequent quarterly reports on Form 10-Q filed on February 9, 2017, May 11, 2017, and August 10, 2017 which are available at www.sec.gov. Applied DNA undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date hereof to reflect the occurrence of unanticipated events, unless otherwise required by law.
Source: Applied DNA Sciences, Inc.