Recently EGG got purchase orders of 35 million of MCTs from big farmers’ associations for seed farming in 2020 and it will generate $60 million of sales revenue. These potato farms have tried EGG’s seed for last couple of years.

In May 2018, EGG signed a three-way MOU with CJ Freshway, one of the major food retail companies in Korea, and Eoulim, a renowned farming association. Under this agreement, the parties will jointly participate in the introduction of the new variety in Korea. This sets a win-win partnership between the food distribution company, agri-tech venture company and contract farmers, ultimately stimulating the Korean potato industry. The parties will start off with potatoes but also work their way through to strengthen the inter-farm relations by developing new varieties of other agriculture products such as onions, sweet potatoes and etc.

In February 2018, EGG has reached an agreement with the largest retailer (Sales: US$13bn) in Korea regarding the supply of EGG potatoes. With the introduction of the new EGG variety, EGG’s goal is to capture 10% of the fresh potato market in Korea in the near future. Both parties are excited by this opportunity, a breakthrough for the Superior dominant market.