MykoGreen Biotechnology AG
MykoGreen Biotechnology AG signs ‘Memorandum of Understanding’ with Al Fajer Group from the United Arab Emirates
MykoGreen Biotechnology AG / Contract 26.05.2010 08:30 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- The Swiss-based Mykogreen Biotechnology AG (stock ticker symbol at the Frankfurt Stock Exchange: 4AW) has signed a 'Memorandum of Understanding' (MOU) with Al Fajer Investment and Development LLC from the United Arab Emirates in Dubai. On this occasion the Al Fajer Group had been represented by His Highness Sheikh Hasher Maktoum Bin Juma Al Maktoum. This MOU is the foundation for a joint venture with the goal of distributing Mykogreen Biotechnology products through the Al Fajer Group, which is controlled by the Al Maktoum family, as well as of setting up a production plant in the region. Furthermore, the company plans to thereby meet the continuously increasing demand for organic plant and soil additives as well as to develop new products 'The Sheikh himself has set his sights on promoting ecological and organic agriculture in his country which will thereby become a role model for the entire world', says Armin Grabowski, executive director of the Mykogreen Biotechnology AG. The innovative and GM-free products of the Mykogreen Biotechnology AG are produced to highest quality standards and their uniqueness is due to several factors. The fungal spores and bacteria cultures that are grown by the company are used in their purest form. A uniquely high concentration and combination of fungal and productive bacteria cultures leads to excellent results in the cultivation of plants and soils. The pulverised carrier material can be distributed in a dissolved state with state-of-the-art irrigation systems and can, thus, be used in almost all existing systems without the necessity of creating new and complex working procedures. According to the Al Fajer Group, there are already numerous inquiries from small farmers and commercial planters as well as ministries in almost all towns and districts of the United Arab Emirates. Even countries such as Saudi Arabia, Qatar and Kuwait are registering enormous demand, since there, too, changing the environment and agriculture is a political priority. The following milestones have already been reached in the course of our collaboration: - Testing of the products' efficiency on-site - Registering the products in the United Arab Emirates - Appointing of a Sales Manager for the Mykogreen Biotechnology AG in Dubai - Finding distributors in the UAE - Training the sales team with regard to the products and their application - Future perspectives for production and research in the region 'This contract gives us highest-level access to a market perfectly suited to our products where these products are also received well on a political level', says executive director Grabowski. 'Now the next steps are obtaining licensing and import permits for our products. Then, initial orders will be placed by the Al Fajer Group. All this has already been set in motion and should be implemented within the next weeks', says Grabowski. About MykoGreen Biotechnology AG: MykoGreen Biotechnology develops and distributes organic and GM-free plant and soil additives which are suitable for a wide range of applications - from planting to recultivation. Mycorrhiza fungi, productive bacteria and fungi constitute the functional basis for the high-quality MykoGreen products, whose professional application increases among other things the stress tolerance of the host plants against biotic and abiotic factors. Through a sensible addition of complementary natural components, the efficiency of these products is further increased and adapted to the respective requirement and application profile. The result are plants which develop strong roots, absorb existing nutrients better, require less irrigation, yield higher crops and are better able to resist vermin and/or are better able to cope with stress due to replanting (seedlings, trees). The MykoGreen Biotechnology AG is a listed company traded on the German Stock Exchange under the symbol 4AW. For more information about the company, please visit www.mykogreen.ch. About Al Fajer Investment and Development: The Al Fajer Investment and Development is a subsidiary of the Al Fajer Group, a holding company owned by His Highness Sheikh Hasher Maktoum Al Maktoum. The holding company was founded in 2004 in order to invest directly in promising business ideas and companies. The goal of the company is to build up a considerable portfolio of profitable companies for the region, after strict performance of due diligence. For more information, please visit the website www.alfajer.com. Milestone Media AG (Investor Relations Europe) Telephone: + 41 415 000 727 Fax: + 41 415 000 728 26.05.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. 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