Last checked at 20 Jun 2022 07:00
RNS
20 June, 2022
Plant Health Care plc
("Plant Health Care" or the "Company")
New, Long-term Commercial-scale Manufacturing of Harpin-based Products
Plant Health Care® (AIM: PHC.L), a leading provider of novel patent-protected biological products to global agriculture markets, is pleased to provide the following update concerning the volume manufacture of its Harpin αβ based products.
Highlights
- Signed a long-term production and supply agreement with a leading Europe-based fermentation company, securing low-cost production capacity of Harpin αβ, the active ingredient in its ProAct®, Employ®, and H2Copla® products, to meet projected global demand.
- Volume production cost targets have been met, ensuring an improved gross margin for the Company and an attractive Return on Investment (ROI) for customers.
- Continuing manufacturing of PREtec peptides within the same facility in support of new product regulatory filings and commercialization of PREtec-based products.
Background
Harpin αβ works by triggering the plant's own self defense systems, in a manner similar to vaccinations in humans, with crops responding with improved quality, nutrient use efficiency, tolerance to abiotic stress and ultimately, increased yield. Being a biological product, Harpin αβ has a very favorable human and environmental safety profile.
PREtec is a novel class of technology which stimulates the plant to defend itself. Derived from natural proteins, PREtec is an environmentally friendly approach to protecting crops from diseases and soil pests and is compatible with mainstream agricultural practices.
Jeff Tweedy, COO of Plant Health Care said, ‟I am pleased to move our product manufacturing to a high-quality facility in Europe that has both the experience and capacity to meet our current product volume requirements as well as projected future increased demand for our Harpin αβ products and the PREtec product portfolio, including Saori®. By eliminating the need to pay certain import tariffs and other costs, gross margin is expected to improve for our Harpin αβ business beginning in 2023."
For further information, please contact:
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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 Vox Markets and the company website: 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.