Plant Health Care PLC Plant Health Care PREtec Product with Agrii UK (5883O)
03 Octubre 2023 - 12:28PM
UK Regulatory
TIDMPHC
RNS Number : 5883O
Plant Health Care PLC
03 October 2023
3 October 2023
Plant Health Care plc
("Plant Health Care" or the "Company")
Plant Health Care Announces Exclusive UK Distribution of PREtec
with Agrii UK
Plant Health Care(R) (AIM.PHC.L), a leading provider of peptides
used by growers to improve crop production and quality within
global agriculture markets, is pleased to announce it has signed a
distribution agreement (the "Agreement") with Agrii UK ("Agrii").
Agrii is a leading provider of crop inputs, agronomy advice and
services to arable, fruit and vegetable growers in the UK.
The Agreement will support commercial sales of PREtec technology
and novel Agrii foliar micronutrient combinations. The first Agrii
foliar fertilizer product to be launched containing PREtec
technology will be sold under the brand Innocul8 and is expected to
be widely available to growers in the UK for use in 2024. These
combinations are designed to help growers improve crop quality and
yield as part of an integrated and environmentally responsible
management program.
The commercialization of PREtec in micronutrient combinations
represents an important milestone for Plant Health Care in the
adoption of Plant Health Care technology in established markets.
Development field trials have validated product efficacy to support
an initial launch focused on promoting greater yields and higher
quality of potatoes, berries, peas, beans and grapes. Expansion to
other crops in the UK is expected over time.
PREtec technology provides growers with a novel and
environmentally friendly approach to crop production that is
compatible with mainstream agricultural practices. The availability
of PREtec in fertilizer products will support farmers seeking to
use more sustainable and environmentally friendly practices while
continuing to produce abundant and high-quality food.
Plant Health Care continues to expand into new markets around
the world through strategic partnerships with major global
distribution partners. The Company is on track to achieve revenue
of $30 million by 2025, through the launch of new products and
continued growth through current and future distributor
relationships, and to achieve cash breakeven and profit along that
track.
Jeff Tweedy, CEO of Plant Health Care, said: "Our agreement with
Agrii reflects our commitment to support UK growers and builds on
our existing arrangements with Agrii. We are confident that PREtec
in fertilizer combinations will provide UK growers with a tool to
support efficient, profitable, and sustainable crop production.
PREtec is a good solution for UK farmers who are facing
unprecedented challenges ranging from product revocations to
disease resistance while still having to produce good quality food.
We expect to see greater demand for biological solutions in the UK
and it is exciting that this distribution agreement will mean more
growers can access the yield improvement and sustainability
benefits PREtec offers."
# # #
For further information, please contact:
Plant Health Care plc
Jeff Tweedy, CEO
Tel: +1 919 926 1600
Cavendish Securities plc - Nomad & Tel: +44 (0) 131
Broker 220 9771
Neil McDonald / Pete Lynch
SEC Newgate (Financial Communications) Tel: +44 (0)7540 106 366
Robin Tozer / George Esmond / Harry Email: phc@secnewgate.co.uk
Handyside
About Plant Health Care
Plant Health Care offers products to improve the health, vigour
and yield of major field crops such as corn, soybeans, potatoes,
and rice, as well as specialty crops such as fruits and vegetables.
We operate globally through subsidiaries, distributors and supply
agreements with major industry partners. Our innovative,
patent-protected biological products help growers to protect their
crops from stress and diseases, and to produce higher quality fruit
and vegetables, with a favourable environmental profile.
Find out more at www.planthealthcare.com
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under the UK version of the Market Abuse Regulation No 596/2014
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END
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October 03, 2023 13:28 ET (17:28 GMT)
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