INDIANAPOLIS, IN -- (Marketwire) -- 03/15/12 -- Stevia Corp. (OTCBB: STEV) ('Stevia Corp.' or the 'Company'), a farm management company focused on the economic development of stevia, the fastest growing product in the alternative sweetener sector, wishes to advise that it recently entered into both Supply and Cooperative Agreements with Guangzhou Health China Technology Development Company Limited, operating under the trade name Tech-New Bio-Technology ('TechNew'), a developer and manufacturer of hi-tech biotechnology products which offers a series of specialized ecological fertilizers, microbiological preparations and management systems for the agriculture and aquaculture industry as well as technologies for the extraction and refinement of high purity stevia.
Under the terms of the Supply Agreement, Stevia Corp. will sell dry stevia plant product exclusively to TechNew including all leaf and stem. Under the terms of the Cooperative Agreement with TechNew, the companies will explore potential technology partnerships with the intent to formalize a joint venture to pursue promising technologies and businesses. These include the inclusion of stevia extracts in its current product formulations for use in agriculture and aquaculture applications including fertilizers and feed.
TechNew is a foreign-invested limited liability company incorporated in China in 2008 and currently more than 200 aquaculture farms use TechNew's products in six notable aquaculture regions. The TechNew brand includes ecological fertilizers that address soil acidification, compaction and fertility decline caused by chemical fertilizer overuse; foliar fertilizers that help plants resist infection and disease, feed formulations for livestock, fish and shrimp that enhance digestion and help strengthen immunity, microbiological preparations that address pollution in marine environments that negatively impact aquaculture activities and integrated systems to intelligently monitor and manage the health of aquaculture ponds.
George Blankenbaker, Stevia Corp. President, comments, 'The stevia plant has long been used for medicinal purposes and it is classified as a medicinal plant in China. The Western world only recently woke up to the wonders of this plant when it was discovered for its zero calorie sweetness qualities. But there is a lot more to the plant than just Rebaudioside A ('Reb-A'), which is primarily responsible for its unique sweetness. This means that we can make use of the entire plant and not just the leaves for the Reb A extraction and the more bio-mass of a plant you can use for high value-add applications, the better the economics and the more price competitive we can be. We are very excited by the technologies that TechNew has developed and the additional markets that it will open.'
Further details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ('SEC') EDGAR database. For more information visit: www.steviacorp.us.
About Stevia Corp. (OTCBB: STEV)
Stevia Corp. is a farm management company focused on best practice agronomic competency in order to deliver high value stevia through proprietary plant breeding, excellent agricultural methodologies and innovative post-harvest techniques. To date, the Company has acquired two grower supply contracts and three nursery fields in Vietnam. For more information visit: www.steviacorp.us.
About the Stevia Industry Sector
Within two years of the USA market opening, Nielsen-based retail consumption data indicated almost $1 billion of retail sales for the sector. In 2010, stevia products were launched across thirty-five countries and in 38 categories. Zenith International estimates worldwide sales of stevia extract reached 3,500 tons in 2010 with an overall market value of $285 million and forecasts the global market for stevia will reach 11,000 tons by 2014 requiring the tripling of stevia leaf production at the farm level to keep pace with consumer demand. For more information visit: www.steviacorp.us.
Notice Regarding Forward-Looking Statements
This news release contains 'forward-looking statements' as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, price competitive advantages of extracts, future success of certain technologies, benefits derived from research programs, commercial scaling, the development of new business opportunities, entry into new markets, worldwide sales of stevia extract and sweetened products, growth of stevia leaf production and growth of the stevia global market. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.