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(Alliance News) - Plant Health Care PLC on Friday said it has made significant steps towards penetrating the European market as it signed agreements to register and distribute products in both Portugal and France.
Plant Health Care is a North Carolina, US-based provider of proprietary agricultural biological products and technology solutions focused on improving crop performance.
The company has signed an agreement with EDAF Unipessoal Lda to become the exclusive distributor in Portugal for its proprietary Pretec-containing fertiliser, Prezym, for use in fruit, vegetable and cereals crop production.
Pretec is a technology that induces natural defensive and metabolic responses in crop plants so that they suffer less harm from stresses like nematodes or disease during a growing season.
Plant Health Care expects to begin commercial sales of Prezym in the first half of 2023. This is the first sale of Pretec-based products in Europe.
"Today's announcement marks a significant milestone for Plant Health Care and our ambitious plans to grow our global footprint/market share," said Chief Executive Officer Jeff Tweedy.
"I am excited for our first sales of the Pretec technology in Europe which has the potential to grow considerably and transform the European farming industry towards a sustainable future with better crops delivering a higher yield for thousands of farmers."
Plant Health Care also said on Friday that its bio-stimulant, Harpin AB, has been successfully registered for use as a fertiliser in France by the Agence Nationale De Securitie Sanitaire.
ANSES is responsible for food, environmental and occupational health and safety. The company also called this development a major milestone, given that France is the largest agricultural producer in the EU.
Looking ahead, Plant Health Care expects to achieve revenue of USD30.0 million by 2025 through the launch of new products and by cultivating current and future distributor relationships.
Plant Health Care shares were trading 2.8% higher at 9.60 pence each in London on Friday afternoon.
By Holly Beveridge; hollybeveridge@alliancenews.com
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