TEL AVIV, Israel–(BUSINESS WIRE)–May 19, 2022–
LCI ( NYSE: ICL) (TASE: ICL ), one of the world’s leading specialty minerals companies, today announced its partnership with startup accelerator StartLife in its quest to invest in startups focused on new ways to address global challenges in food production and agricultural. These challenges range from increasing yields and addressing food insecurity to reducing greenhouse gas emissions. Both organizations are fully focused on accelerating the business development and growth of early stage startups, and this partnership allows them to advance in their shared mission.
Joining forces to accelerate agribusiness startups, StartLife COO Laura Thissen (left) and Hadar Sutovsky ICL VP External Innovation (right). (Photo: Guy Ackermans)
Based in Israel, ICL Planet Startup Hub is the vehicle ICL uses to cultivate, nurture and accelerate innovation in the agri-food tech ecosystem, through open innovation and global collaboration. Potential targets also include new ways to recycle minerals, extract them from waste streams and convert them into fertilizers or develop innovative functional proteins for clean label applications, among others.
“ICL Planet Startup Hub seeks to establish a new generation of plant nutrition solutions, and our goal is to invest in startups, which can make a significant difference,” said Hadar Sutovsky, Vice President of External Innovation. at ICL Group. Sutovsky first met StartLife at its annual summit – F&A Next – which focuses on disruptive agribusiness technologies and brings together startups, investors and companies from around the world.
“StartLife has a strong track record in scouting and attracting promising startups globally, and its position at the heart of the European agribusiness tech ecosystem, its focus on sustainable food systems and its strong ties with World-renowned Wageningen University and research was central to our decision to enter into a partnership,” Sutovsky continued.
StartLife COO Laura Thissen said, “Through this partnership, StartLife aims to accelerate the scaling journey for startups and, at the same time, help ICL find the best startups, that fit. to their innovation challenges. Our team is already identifying startups looking to partner up and help solve one piece of the innovation puzzle for Planet Startup. The scope includes crop nutrition, such as next-generation fertilizers and biostimulants, but also precision agriculture and alternative proteins.
Thissen added, “To drive innovation, StartLife actively connects startups with key industry players. The core area of ICL is complementary to the value chain coverage of our partner community. During our interviews, we quickly discovered that we had many synergies in our activities and the same desire for sustainability in food and agriculture.
Startups have a lot to gain from collaborating with ICL Planet Startup Hub, including market access, world-class expertise and scientists, and the ability to test samples. As an industrial partner in the field, ICL can also provide agronomic or agri-food experience feedback. ICL Planet Startup Hub is already an active investor in several agribusiness startups, most recently in alternative protein companies Plantible and Protera.
Startups interested in partnering with ICL Planet Startup Hub should contact StartLife to arrange an introduction.
ICL Group is a leading global minerals company that is also benefiting from rising commodity prices. The company creates impactful solutions for humanity’s sustainability challenges in global food, agriculture and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, passionate team of talented employees and strong focus on R&D and technology innovation to drive growth in its end markets. ICL shares are dual-listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs more than 12,000 people worldwide and its revenue in 2021 totaled approximately $7 billion.
To access ICL’s Interactive Corporate Social Responsibility Report, please click here.
About ICL Planet Startup Hub
ICL Group is a leading global minerals company, creating impactful solutions for humanity’s sustainability challenges in global food, agriculture and industrial markets. ICL Planet Startup Hub is the vehicle in which ICL cultivates, nurtures and accelerates innovation and technologies in the agri-food technology ecosystem. She seeks to invest in and grow disruptive businesses that can have a positive effect on the industries she works in and leads.
StartLife is the first agri-food startup accelerator in Europe, co-founded by Wageningen University & Research. Its mission is to empower founders to create and grow startups with breakthrough technologies that shape a sustainable food system. To this end, it provides a wide range of services, including business development support, leading business mentors, non-equity financing and access to a global community of startups, investors , companies and experts. Since its inception in 2010, StartLife has backed over 400 startups that have raised €320 million in follow-on capital so far.
You can also learn more about StartLife on LinkedIn.
This announcement contains statements that constitute forward-looking statements, many of which can be identified by the use of forward-looking words such as “anticipate”, “believe”, “could”, “expect”, “should”, “plan ,” “intend,” “estimate,” and “potential,” among others.
Forward-looking statements appear in this press release and include, but are not limited to, statements regarding the company’s current intent, belief or expectations. Forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. These statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied by the forward-looking statements due to a variety of factors, including, but not limited to: estimates, forecasts and statements as to management’s expectations with respect to, among other things, business and financial outlook, financial multiples and accretion estimates, future trends, plans, strategies, positioning, objectives and expectations, general economic, market and business conditions, supply chain and logistics disruptions, potential for new COVID-19 variants, global unrest and conflict, governmental and regulatory requirements and actions of governmental authorities, including changes in government policy, changes in environmental laws or regulations mental, fiscal and other and their interpretation. As a result of the foregoing, readers should not place undue reliance on the forward-looking statements contained in this press release regarding the timing of the transaction, or other more specific risks and uncertainties facing ICL, such as those set forth in the “Risk Factors” section of its Annual Report on Form 20-F filed on February 23, 2022, as such risk factors may be updated from time to time in its current reports on Form 6-K and in other documents filed by ICL with the United States Securities and Exchange. Commission from time to time.
Forward-looking statements speak only as of the date on which they are made, and the company undertakes no obligation to update them in light of new information or future developments or to publicly release any revisions to these statements to reflect subsequent events or circumstances or to reflect the occurrence of unforeseen events.
CONTACT: ICL Investor Relations
Vice President, Global Investor Relations
KEYWORD: UNITED STATES NORTH AMERICA ISRAEL MIDDLE EAST NEW YORK
KEYWORD INDUSTRY: ENVIRONMENT VENTURE CAPITAL PROFESSIONAL SERVICES SMALL BUSINESS FOOD/BEVERAGE MINING/MINERALS RETAIL AGRICULTURE NATURAL RESOURCES
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PUBLISHED: 05/19/2022 02:00 AM/DISC: 05/19/2022 02:02 AM