Plant Health Care - Novozymes Distribution Agreement
12/01/2023 07:00
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RNS Number : 4546M Plant Health Care PLC 12 January 2023
12 January 2023
Plant Health Care plc
("Plant Health Care" or the "Company")
Plant Health Care ("PHC") and Novozymes Announce Distribution Agreement to
Commence First Harpin ab Commercial Sales in India
Plant Health Care® (AIM: PHC.L) and Novozymes South Asia Pvt. Ltd. (NASDAQ
OMX: NZYM-B) have signed an agreement for the exclusive distribution of Harpin
ab for use in sugar cane production in India.
First commercial sales are expected to commence in the second half of 2023,
after receipt of the required regulatory approvals. This is the first product
introduced into India by PHC. India is the world's second largest producer of
sugar cane with about five million hectares under cultivation. Harpin αβ has
been used on more than 180,000 hectares of sugar cane in Brazil since the
launch in 2018.
Evaluated by Novozymes in prior growing seasons in India, the application
of Harpin ab to sugar cane bolstered crop yield by more than 10% on average.
Harpin αβ works by triggering the plant's own self defense systems, in a
manner similar to vaccinations in humans, with crops responding with improved
quality, nutrient use efficiency, tolerance to abiotic stress and ultimately,
increased yield. Being a biological product, Harpin αβ has a very favorable
human and environmental safety profile.
Jeff Tweedy, CEO of Plant Health Care, said: ‟Building on the success of
our Harpin αβ product on sugar cane in Brazil, it was natural to launch
the product in India, the world's second largest producer of sugar cane.
Novozymes is a leading supplier of biological products to sugar cane
processors in India and will be a strong distribution partner for Plant Health
Care's technology. Commencing commercial sales in India will materially
support continued strong revenue growth at PHC consistent with previously
announced aspirations. First sales in India are expected in H2 2023 pending
regulatory approvals."
Shanmugam Sambanthan, Novozymes India Commercial Head of Agriculture
commented: "Sugarcane production must be increased in order to achieve the
transition to cleaner energy sources envisaged under India's National Policy
on Biofuels. Novozymes is delighted to be working with Plant Health Care to
offer Indian farmers a revolutionary biostimulant, Harpin αβ, that enhances
sugarcane yield and provides superior economic returns."
For further information, please contact:
Plant Health Care plc +1 919 926 1600
Jeff Tweedy, CEO
Cenkos Securities plc - Nomad & Broker +44 (0) 131 220 9771
Neil McDonald / Pete Lynch
SEC Newgate (Financial Communications) +44 (0)7540 10666
Robin Tozer / Richard Bicknell / George Esmond phc@secnewgate.co.uk (mailto:phc@secnewgate.co.uk)
Novozymes Media Relations +45 30 77 05 52
Lina Danstrup, Head of Media Relations lind@novozymes.com (mailto:lind@novozymes.com)
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 (http://www.planthealthcare.com)
About Novozymes
Novozymes is the world leader in biological solutions. Together with
customers, partners, and the global community, we improve industrial
performance while preserving the planet's resources and helping build better
lives. As the world's largest provider of enzyme and microbial technologies,
our bioinnovation enables higher agricultural yields, low-temperature washing,
energy-efficient production, renewable fuel, and many other benefits that we
rely on today and in the future. We call it Rethink Tomorrow.
http://www.novozymes.com (http://www.novozymes.com)
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