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AgraQuest (AGRA)

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Tuesday 13 May, 2008

AgraQuest

AgraQuest Inc. Names Marcus Meadows-Smith CEO





Meadows-Smith to Lead Crop Protection Firm Through Next Phase of
Global Growth

DAVIS, CA--(Marketwire - May 12, 2008) - AgraQuest Inc., a leading
provider of effective and safe pest management products inspired by
nature, announced today that Marcus Meadows-Smith has been named as
the company's Chief Executive Officer. Meadows-Smith joins the
AgraQuest executive management team and begins his new duties
effective immediately.

Mike Miille, who previously served as AgraQuest's CEO/COO, has
transitioned to his new role as President and Chief Operating Officer
of AgraQuest. The addition of Meadows-Smith further strengthens the
company's management team and builds on the recent addition of Ashish
Malik, formerly of Syngenta, as the company's Senior Vice President
of Global Marketing. The sales organization remains unchanged and is
led in North America by Chris Coombs, Vice President; in Europe, the
Middle East and Africa by Thierry Merckling; and in Latin America by
Jorge Cetti.

"Marcus is the ideal person to guide AgraQuest through our next phase
of development," said Miille. "He has a strong history of
strategically leading businesses for profitable growth and is a
20-year veteran of the agricultural chemicals industry. His talents,
strengths and experience perfectly complement those of the rest of
the management team. AgraQuest is entering a period of global
expansion and Marcus' leadership will be an integral part of our
long-term success."

In his role, Meadows-Smith will focus on taking AgraQuest through a
high-growth phase including launching new products formulated from
proprietary active ingredients, leveraging in-licensing and strategic
partnerships, and targeting new global crop markets.

"As CEO, Marcus embodies all the traits that are needed to drive and
support substantial rapid growth and ongoing enhancements of
AgraQuest's value proposition and strategic importance," said John
Pasquesi, Chairman, Board of Directors for AgraQuest. "His proven
record of growing business within the agricultural chemicals
industry, his approach to market development, and his rapport with
the team currently in place were all an excellent fit for AgraQuest's
needs. We are excited to have someone of his caliber join the
company."

Meadows-Smith comes to AgraQuest following a 14-year career with
Chemtura Corporation USA (formerly Crompton, Uniroyal Chemical and
Great Lakes), where he recently served as Executive Vice President in
charge of a $1.9 billion portfolio of businesses including the Crop
Protection, Consumer Products, and Plastics Additives divisions.
Prior to this, he was employed for six years by the Sumitomo
Corporation where he was the Marketing Manager for the Crop
Protection Products and Public Health Pesticides division, based out
of London.

Citing record first quarter revenues in 2008, up 80 percent over last
year, as well as several new product registrations in the U.S. and
additional national registrations for the fungicide SERENADE® in
Europe and Latin America, Meadows-Smith is impressed by the momentum
in growth that has been established at AgraQuest.

"AgraQuest has done an excellent job of building a platform for
ongoing successful growth," said Meadows-Smith. "The company has a
tremendous pipeline of innovative active ingredients for use as
bio-pesticides, plant health products and fumigants. Our products
will bring much needed innovation and benefits for our customers in
conventional and organic agriculture, and the home and garden, seed
treatment, post-harvest and food safety markets. We will deliver
profitable growth in all these sectors and create true value for our
stakeholders, further strengthening our position as the global leader
of biological products for crop protection, plant health and pest
management."

Meadows-Smith, who holds a degree in Biological Sciences, Genetics
from the University of Birmingham in the United Kingdom and is a
graduate of Harvard Business School's Advanced Management Program,
will work out of AgraQuest's company headquarters in Davis,
California.

AgraQuest recently completed a $20 million round of mezzanine
financing that gives the company the financial resources to
capitalize on growing market opportunities and help fund new product
launches. The pipeline of products includes bio-insecticides that
complement the existing bio-fungicides -- SERENADE, SONATA®, BALLAD®
and RHAPSODY® -- for the pre-harvest crop protection market, as well
as naturally inspired products for the post-harvest, fumigant, seed
treatment, and food safety markets among others.

About AgraQuest, Inc.

AgraQuest is a biotechnology company that focuses on innovation
partnerships with global agrochemical and post-harvest food safety
companies. AgraQuest has established an enviable record of leadership
in the core competencies of discovering, developing, manufacturing
and marketing effective, safe and environmentally friendly natural
pest management products for the agricultural, institutional and home
markets. The company sells SERENADE®, RHAPSODY®, SONATA® and BALLAD®
fungicides and BARITONE(TM) insecticide in the U.S. market and around
the world. AgraQuest received the Presidential Green Chemistry Award
from the U.S. EPA for the discovery and commercialization of
SERENADE. In 2004, AgraQuest received a Red Herring Top 100 Private
Company Award and the World Technology Award for the Environment.
Photo available:


http://media.marketwire.com/attachments/200805/MOD-433307_MMeadows-Smith200.jpg

Contact:
Jake Mortensen
Marketing Communications Specialist
AgraQuest, Inc.
530-750-0150 x114 office
530-383-7000 cell
[email protected]






                                                                                 

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