GENTECH archive


Maybe Monsanto will help with food

     "The RiceX Company Announces Preliminary Venture Agreement with
     Monsanto," Business Wire, May 4, 1999

     The RiceX Company announced May 4 that it has signed an agreement to
     establish a preliminary joint venture with Monsanto.

     The purpose of the agreement is to determine the feasibility of
     commercializing the rice bran stabilization technology of The RiceX
     Co. in India.

     Under the terms of the agreement, The RiceX Co. will send two
     stabilization systems and operating personnel to India to demonstrate
     the capability of the company's proprietary technology.  The
     demonstration period is expected to last approximately six months.
     Upon successful completion of the demonstration, it is the intent of
     the parties to form a joint venture to stabilize abundant raw rice
     bran supplies in India which are currently being used as low-grade
     animal feed.

     Charles Hough, business development head, Nutrition and Consumer
     Sector for Monsanto, commented, "We are keenly interested in expanding
     our activities in India.  The RiceX technology could be a vehicle for
     Monsanto to contribute significantly to the nutritional well-being of
     the people of India.  We are excited with the prospects of converting
     a low value resource like raw rice bran into a stable and nutritious
     food source."

     Dan McPeak, chairman and CEO of The RiceX Company, also commented,
     "Currently there are nearly 10 million metric tons of rice bran
     available in India that could be stabilized via our technologies.
     Stabilization of the bran will lead to a series of nutritious
     value-added food products for human consumption in India without the
     need to plant one more seed or harvest one more acre of rice.  We are
     pleased to be associated with Monsanto in this venture.  Monsanto
     brings significant capability to the project and enhances our chances
     for success."