Monday, Jul 22 2024 | Time 23:52 Hrs(IST)
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Business Economy


Telluris Biotech receives Biochemical classification from USEPA

Hyderabad, Jan 27 (UNI) Hyderabad –based agriculture biotech startup Telluris Biotech, which is pioneering the research, development and commercialisation of sustainable crop biotechnology products, on Friday announced that it has received Biochemical Classification from United States Environmental Protection Agency (USEPA).
The USEPA is the Agency responsible for the registration of safe and sustainable products in the United States of America, said Mr Venu Polineni, Founder and the Managing Director of Telluris Biotech India Private Limited, at a press conference here.
It is the world’s first True Bio-Nematocide to get referral by the Biochemical Classification Committee, he claimed and said the classification is the first and the most important step in the technology evaluation for its claims to be registered as Bio-pesticides.
Biopesticides are presumed to be safe and act in harmony with nature, unlike conventional chemical pesticide molecules which are known for their deleterious effects.
Established in Hyderabad in 2015 with focusing on innovative protein-based biological solutions, Venu said we have 8 biostimulant products in the Indian market and they are used for cotton, Chillies, Turmeric and others.
Two more products are going to launch in the Indian market during the rabi season this year and in the US in 2024, he informed.
The Hyderabad current plant capacity was 7 lakh litres per annum, the Telluris Bioetch MD said the company’s turnover this year will be Rs 10 crore as against Rs 2.5 crore in last year.
Venu said that they have raised so far US $ 3 million from Innovation in Food and Agri Fund and are planning to raise 12 million Series A funding by end of March 2023 to scale up its operation to bring its status from a start-up to full scale corporate enterprise.
Currently, the company has 130 manpower and it will scale up to 225 by the end of 2024, he said the inventiveness of the technologies Telluris Biotech worked upon to control the plant parasitic nematodes.
Plant parasitic nematodes cause an average of 12.3 per cent annual yield loss ($ 157 billion) of the world’s major crops and have become a serious concern for which farmers are eagerly waiting for safe sustainable solutions.
Telluris Biotech has developed three nematicides technologies and is developing products from these technologies. These products are intended to make a significant impact on productivity and quality of crops across major agricultural markets like India, USA, EU, LATAM and ECOWAS regions shortly, he said.
The Telluris Founder said the company had filed 39 patent applications in 13 major agriculture markets. 19 patent applications are granted in 11 geographies: USA, EU, Japan, India and China, he said.
Telluris’ products are addressing a US$ 67 bn+ global market opportunity in a fast-growing Crop Biologicals market responding to megatrends , sustainable food ecosystems, and stricter regulations, Venu added.
UNI KNR CS1805
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