I believe you are revering to a press release from Oct, 2009…see below
Press release 22 October 2009
Plant Impact plc
("Plant Impact" or the "Company")
Plant Impact awarded €1m research grant from EU
Plant Impact plc (AIM: PIM), which develops and markets ecologically friendly crop nutrition and crop protection products, announces that a Plant Impact led consortium has been granted €1m European Union funding to develop its patented nematicide technology and a soil delivery system.
The grant is in respect of the project "Non-toxic and Cost-Effective Essential Oil-based Nematicide and Soil Delivery System". The research is to be completed during 2011. The project is to provide all relevant research and commercial capabilities to deliver a marketable product. The consortium comprises of seven organisations across Europe, with Plant Impact being the nematicide technology provider and coordinator of the consortium. Approximately €300,000 is payable in respect of Plant Impact's contribution to the consortium.
Pressure to increase yields from available land (especially in Europe) has resulted in the rise of practices such as monoculture and a reduction in crop rotation, providing ideal conditions for nematode survival and spread. Many of the current nematicides are being phased out because of their greenhouse gas emissions or their safety and handling profile.
Plant Impact's approach aims to provide a non-toxic nematicide that can be applied in a timely and cost-effective manner without the need for soil sterilisation which results from fumigation. Following extensive networking within the EU farming communities, Plant Impact believes this solution will be welcomed over existing approaches based on four key-differentiators:
As you can see, they were one of seven companies involved in the research. The object was field trials in 2011. They did them and the results were not promising. Present management decided to focus all efforts on those products that had the best chance of significant returns as soon as possible. This is exactly what they have done and are achieving. Getting into broad acre drops has been the ambition of past and present management and clearly offers the chance of exponential sales growth over the next few years. Present management should be applauded for not wasting precious and scarce resources, both human and financial , on product/s that either do not work or need vast resources to monitise them.
I gather that the nematode trials effectively didn't work which would explain why they are not bothered about chasing patents…waste of time and money!
If you were to bother to chat with management, I am sure they would be happy to tell you all about it. Hope you can make the investor day so you can present all these questions re. patents. I expect, as a concerned share holder, you must want some answ
Upon closer inspection of PIMs patents, it appears they are no longer supporting many of them. I am most concerned at the moment about their decision or requirement, to dump the European nematicide patent!
The IP is the only thing that gives this company a value, as commercially they continue to make losses. I would wish to know every time they drop IP, as less assets = lower valuation of PIM.
PIM valued thgis market at upto €20 billion, and they had a stonking great grant of €1 million euros to get this product ready for market by 2011.
It is very worrying that PIM are walking away from assets as potentially valuable as this, and seem to be pursuing a one trick pony business model based on IP PIM are on public record as saying gives them no protection from competition.
Why are PIM seemingly incapable of defending IP, or developing actual products and sales from any but one of their many historic patent assets?
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