Saturday, Dec 9 2023 | Time 08:11 Hrs(IST)
image
Business EconomyPosted at: Jan 27 2023 6:03PM


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
Please log in to get detailed story.
Tags: #Telluris Biotech receives Biochemical classification from USEPA
More News
Centre bans onion export till March 2024 to keep inflation in check

Centre bans onion export till March 2024 to keep inflation in check

08 Dec 2023 | 8:38 PM

New Delhi, Dec 8 (UNI) Seeking to maintain sufficient stock of onions and keep inflation in check ahead of Lok Sabha election early next year, the government has banned exports of onions till March 2024.

see more..

Hydro power major THDCIL signs MoU for water sports academy

08 Dec 2023 | 8:21 PM

Dehradun, Dec 8 (UNI) State-owned THDC India Ltd (THDCIL) on Friday announced the signing of a Memorandum of Understanding (MoU) with the Indian Kayaking & Canoeing Association (IKCA), Uttaranchal Olympic Association (UOA), and the Department of Yuva Kalyan and Sports, Government of Uttarakhand to set up THDCIL Water Sports High Performance Academy at Koteshwar, Tehri.

see more..

BPCL and Tata Passenger Electric Mobility sign pact for electric chargers

08 Dec 2023 | 8:09 PM

New Delhi, Dec 8 (UNI) Bharat Petroleum Corporation Limited (BPCL) on Friday said that it has signed a pact with Tata Passenger Electric Mobility (TPEM) to set up 7,000 chargers.

see more..

Status quo on repo rate expected : Sanyal

08 Dec 2023 | 6:54 PM

Kolkata, Dec 8 (UNI) Chief Economist and Head Research, Bandhan Bank Siddhartha Sanyal on Friday said the status quo on the repo rate by the Monetary Policy Committee (MPC) was as expected.

see more..

Bankers, industry say RBI monetary policy on expected lines

08 Dec 2023 | 6:33 PM

New Delhi, Dec 8 (UNI) Hailing the Reserve Bank of India (RBI)'s decision to continue the pause on key lending rate, bankers and industry captains have said that stable monetary policy would support growth.

see more..
image