The JV will be located in the East Lake New Technology Development Zone in Wuhan

The OCP Group and China’s Hubei Forbon Technology have announced on Jan 4, 2021, the signing of an agreement for the establishment of a joint venture (JV) operating in the research and development (R&D) field to develop new generations of fertilizer solutions and Smart Agriculture.

This is a 50/50 Joint Venture operating in the Research and Development field for the development of new generation technologies for fertilizers and smart agriculture, said a joint statement.

The JV will be located in the East Lake New Technology Development Zone in Wuhan (China) granting it access to the Chinese innovation ecosystem, considered today as one of the most dynamic in terms of R&D in agriculture, it added.

Through this JV, OCP, a leading global phosphate soil and plant nutrition player, and Forbon, a Chinese company engaged in the research, development, manufacture, and sale of fertilizer additives and an innovative company in digital agriculture, aim at establishing a global partnership to develop new generations of fertilizer and digital solutions for agriculture, leveraging on OCP’s and Forbon’s innovation capabilities.

Furthermore, this partnership will profit from the dynamic ecosystem of innovation of the Biolake Park in Optic Valley to explore sustainable agricultural solutions by providing farmers with customized solutions, best practices and digital services.