REG - Plant Health Care - Plant Health Care PREtec Product with Agrii UK

Plant Health CareAnnouncement

03/10/2023 18:30

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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(®) (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                             Tel: +1 919 926 1600
 Jeff Tweedy, CEO
 Cavendish Securities plc - Nomad & Broker         Tel: +44 (0) 131 220 9771
 Neil McDonald / Pete Lynch
 SEC Newgate (Financial Communications)            Tel: +44 (0)7540 106 366
 Robin Tozer / George Esmond / Harry Handyside     Email: phc@secnewgate.co.uk (mailto:phc@secnewgate.co.uk)

 

 

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)

 

 

This announcement contains inside information as stipulated under
the UK version of the Market Abuse Regulation No 596/2014 which is part of
English Law by virtue of the European (Withdrawal) Act 2018, as amended.

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