Designer seeds: Equinom's US expansion brings company closer to key farming communities
17 Mar 2020 --- Seed-breeding specialist Equinom Ltd, is expanding its operations with the opening of offices in the US to serve the North American market. The move will accelerate the company’s penetration into the global food market and bring it closer to farming communities and grain handlers, as well as to food and food ingredient companies, says Equinom.
Equinom’s business model directly connects food companies to the supply chain, in turn bringing increased transparency and paving the way for more responsible sourcing of high-value plant protein.
The company supports agronomists, trades with grain handlers, and partners with food companies in North America. Last month, Equinom closed its Series B round of funding of US$10 million, led by BASF Venture Capital. Using the new capital injection, the Israeli start-up aims to expand its novel cross-breeding method of plant seeds, which raises a crop’s protein content and tailors its organoleptic properties to the specifications of a particular company. Equinom further anticipates the launch of its high-protein pea variety in 2021.
Rick Mignella has joined the company as Executive Vice President and Managing Director to lead the US team and focus on scaling up business and expanding Equinom’s presence and reach within the North America market.
Before joining Equinom, Mignella held several strategic business development positions for global food and ingredient companies, including Ingredion and Cargill.
Equinom’s non-GMO technology shapes the future of plant-based landscape by designing smarter seeds via fast-track, proprietary technology with a breeding methodology that utilizes natural genetic variation in plants. Food companies can reap the benefits of Equinom’s unique breeding programs by designing new, cleaner products for fast-track delivery.
“This exciting move to new shores marks the next phase of growth for Equinom,” says Gil Shalev, CEO and Founder of Equinom. “We are delighted to welcome Rick to Equinom and are confident that his know-how and vast industry experience will take this rapidly growing company smoothly to the next level of expansion.”
“Equinom can significantly contribute to the plant-based revolution and the broader food industries by changing the way food systems currently operate,” adds Mignella.
“Equinom’s non-GMO technology can help facilitate the creation of clean food products, increase protein content, and tailor key nutrients to the specific requests of food product developers and manufacturers. Our mission of connecting the farming industry with the food companies will build the next-generation mutual ecosystem for food production.”
Edited by Gaynor Selby
