PPI Financing To Accelerate Businesses

Matt Hopkins Posted by Matt Hopkins|22 July 2008

Performance Plants Inc. (PPI) – a leading global agricultural biotechnology company which developed and patented a range of stress-resistant crop seed technologies – has announced the completion of a $13 million equity financing, according to a company press release.

PPI’s traits, developed to deliver higher yields and more consistent and cost effective harvests under drought and excessively hot or cold conditions, are being evaluated for food crops both internally and in partnership with world-leading seed companies which include DuPont business Pioneer Hi-Bred, Syngenta Biotechnology, Stine Seed Company, RiceTec Inc., and The Scotts Miracle-Gro Company.

The equity financing, led by Ceres Global Ag Corp. and Eastwood Capital Corp., both of Toronto, Canada, will be used to further develop and expand PPI’s portfolio of crop seed traits, accelerate commercialization of the company’s food crop traits, and aggressively develop its biofuels business plan and expand its clean energy industrial partnerships.

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