DuPont and Bunge Broaden Soy Collaboration to Include Industrial Applications and Biofuels
TREUS™ Brand Name Introduced For Soy Product and Technology Platform
AMANA, Iowa, Aug. 29, 2006 “Over the three years of our collaboration, we have seen the interest in biofuel, industrial and feed sectors expand exponentially. We are making strides to bring products to market to meet the growing demand,” said Erik Fyrwald, group vice president, DuPont Agriculture & Nutrition.
Carl Hausmann, president and CEO, Bunge North America, said, “This collaboration brings together the expertise and resources of two industry leaders that span the soybean value chain. We are pleased with the success of our low linolenic soybean oil in meeting our food customers’ demands for trans fat alternatives. We are excited about the potential of new soy products that will build on this success in the food sector and enable us to better serve feed and industrial customers including the growing soy biodiesel industry.”
DuPont has a significant effort to deliver new technologies to the growing biofuels market, which includes improving biofuel production through improved seed and crop protection products; developing new technologies to allow conversion of cellulose to biofuels; and developing next generation biofuels, including biobutanol. In addition to developing corn hybrids for ethanol, DuPont subsidiary Pioneer Hi-Bred International, Inc., is characterizing Pioneer® brand soybean varieties for oil content to determine impact on biodiesel production.
TREUS™ Brand Name Launched
To reflect the broader collaboration, DuPont and Bunge are launching TREUS™, the new brand name for the industry-leading family of soy products developed by the partnership that deliver enhanced nutrition, sustainability and functionality.
Low linolenic soybean oil produced from Pioneer® brand soybean varieties, and previously marketed as NUTRIUM Low Linolenic Soybean Oil, will now be marketed as TREUS™ Low Linolenic Soybean Oil.
Low Lin Opportunity for Growers
DuPont and Bunge have carved a strong position in the expanding low linolenic soybean market. The alliance is delivering valuable contracting opportunities to farmers, establishing itself as a reliable source of high quality oil to meet the demand from food companies to reduce or eliminate trans fats from their products.
Acres planted with Pioneer® brand low linolenic soybeans grew from about 35,000 in 2005 to nearly 200,000 in 2006, with plans to significantly increase acres in 2007 to meet growing customer demand. From a targeted base in Iowa in 2005, the geography has expanded each year and is projected to reach into eight states for the 2007 growing season — including Iowa, Illinois, Indiana, Ohio, Michigan, Missouri, Pennsylvania and Wisconsin.
In addition, Pioneer is continuing to expand the line-up of low lin soybean varieties available in its high performing soybean product line. The product pipeline includes several new varieties for 2007 that can be grown across broader geographies and maturity zones. Pioneer brand low lin soybean varieties are offered as a part of the Pioneer IndustrySelect® program, which helps farmers select hybrids or varieties specific to the end-use need.
Bunge is seeing strong demand for low linolenic soybean oil produced from Pioneer brand low lin soybeans. The company met 2005 production commitments to food companies; and is on target to meet 2006 commitments.
Rich Product Pipeline
Low linolenic soybean oil was the first product introduced by the companies, with a number of strong soybean oil and soybean meal products in the pipeline, including oils with high oleic and a combination of high oleic and high stearic oil content.
High oleic and high oleic/high stearic products present valuable benefits to food processors and industrial customers. For food companies, the high oleic/high stearic oil will offer a low trans, high solids baking ingredient for use in packaged foods requiring an extended shelf life such as cookies, crackers and breakfast cereals. High oleic oil also provides a low trans product with improved frying performance for food service and food processors. In industrial and transportation settings, high oleic oil offers functional characteristics that allow companies to develop renewable, environmentally friendly options to petroleum-based products.
The Bunge DuPont Biotech Alliance was formed in 2003. At the same time, the companies created The Solae Company, a joint venture to bring more great tasting, nutritious soy-foods to the marketplace. Solae is headquartered in St. Louis and has annual revenue exceeding $1 billion.
Bunge North America (www.bungenorthamerica.com), the North American operating arm of Bunge Limited (NYSE: BG), is a vertically integrated food and feed ingredient company, supplying raw and processed agricultural commodities and specialized food ingredients to a wide range of customers in the livestock, poultry, food processor, foodservice and bakery industries. With headquarters in St. Louis, Missouri, Bunge North America and its subsidiaries operate grain elevators, oilseed processing plants, edible oil refineries and packaging facilities, and corn dry mills in the U.S., Canada and Mexico.
Pioneer Hi-Bred International, Inc., a subsidiary of DuPont, is the world’s leading source of customized solutions for farmers, livestock producers and grain and oilseed processors. With headquarters in Des Moines, Iowa, Pioneer provides access to advanced plant genetics, crop protection solutions and quality crop systems to customers in nearly 70 countries.
DuPont is a science company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture, nutrition, electronics, communications, safety and protection, home and construction, transportation and apparel.
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Researchers at Pioneer also are developing soybean varieties that produce soybean meal with enhanced amino acid content for more efficient meat production. Increased biodiesel production results in increased soybean meal availability, highlighting the importance of enhancing the quality of soybean meal.
Pioneer®, TREUS™ and IndustrySelect® are trademarks and service marks of Pioneer Hi-Bred International, Inc.
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