RE: Possible/likely new CEO?1 Sep 2021 00:40
Under the terms of the Hydroponics Agreement, PIC has agreed over the next 12 months to purchase a minimum of 40,000 litres in aggregate, of the eight solutions in the nano.10(-9) range, with an expected revenue for the Group of around GBP80,000. However, this is expected to grow significantly as the market becomes more aware of the benefits of the nano particles in plant nutrient ranges.
Barry Faulkner, director of PIC, said; "We have been working closely with Dr Gareth Cave and his team for several years, constantly developing and improving this nutrient range to be the best it can be. Nanoparticles are going to be revolutionary in fertiliser delivery and we can't wait to bring this fantastic product to the UK and European markets."
Antony Legge, Executive Chairman of RMS, said; "We are delighted to have entered into this agreement with PIC which reflects the excellent demand we perceive for Pharm 2 Farm's high-quality nano particles in the hydroponics sector and also demonstrates the breadth of applications where our nano particles can benefit the end-user. We very much look forward to working with PIC to develop the market opportunities for these high-quality nutrients."
As well as putting in place alternative sub-contracting manufacturing arrangements through Voltz Filters UK Limited, the board has also been working with Lemu in respect of the mask making machine that was installed, but never commissioned, at BioCity. Terms have been agreed, in principle to return the mask making machine to Lemu, further details of which will be announced in due course. In addition, the Company is investigating utilising the cash reserves to improve and increase the nanoparticle production capacity by developing a bespoke system, which has complex engineering challenges. Now think about it what would the reason be for them to expand the nano manufacturing capacity?