Today Syngenta announced a major donation to the Prime the Pump fund, an industry initiative to help early retail adopters of high-level ethanol blends through grants to reduce their initial investment in infrastructure. On the pane (l-r) are Chris Tingle, Syngenta; Ray Defenbaugh, Prime the Pump; Kelly Manning, Growth Energy; Delayne Johnson, Quad County Corn Processors and Chris Soule, Iowa farmer and star of ABC’s The Bachelor and Dancing With the Stars.
Syngenta says it will donate approximately $600,000 to the initiative by contributing $1 for every acre planted with Enogen corn enzyme technology. This effort stated in 2013 and is being extended to 2016. Besides the money being raised for the Prime the Pump initiative, the FFA students here today helping collect money for the fund will be receiving matching dollars for the money they raise. So, when you look at the value to the ethanol plants of Enogen corn which already has a vital enzyme for processing which saves the plant money; the fact that farmers growing Enogen corn are receiving a significant bonus incentive on the price of their corn; the fact that this initiative is helping expand the market and use of ethanol and local FFA chapters are benefitting, it seems like a win-win for everyone.
I have recorded the full press conference for you to listen to here: Syngenta Enogen Press Conference