Plant Health Care PREtec Product with Agrii UK

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."

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For further information, please contact:
 

Plant Health Care plc Jeff Tweedy, CEO	Tel: [phone]
Cavendish Securities plc - Nomad & Broker Neil McDonald / Pete Lynch	Tel: [phone]
SEC Newgate (Financial Communications) Robin Tozer / George Esmond / Harry Handyside	Tel: [phone] Email: [e-mail]

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

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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