Last checked at 4 Feb 2010 07:00
4 February, 2010
Plant Health Care plc ("Plant Health Care" or "the Company")
PLANT HEALTH CARE RECEIVES ORDER FOR MYCONATE TO BE USED IN SOYBEANS
Plant Health Care (AIM: PHC), a leading provider of naturally derived products to the agriculture and landscape industries,announces that its wholly owned subsidiary, Plant Health Care Inc, has received an order for Myconate for use on a significant number of acres of soybeans in the USA. The order, from a major regional soybean seed company, comes after several years of extensive testing of Myconate on soybean by that company.
The Plant Health Care board believes that this order provides further validation of the Myconate technology and its commercial potential. Whilst the order will not have a material impact on Plant Health Care's earnings it is a very encouraging development in the commercialization of Myconate.
Plant Health Care's novel Myconate technology helps crops to develop a larger root mass enabling treated crops to prosper under stressful conditions. Myconate works by triggering the colonisation of plant roots by beneficial microorganisms called mycorrhizal fungi. With more mycorrhizal fungi at work, each plant can draw more nutrients and moisture out of the soil. More nutrients make for healthier plants, and significantly greater overall yields. The board believes Myconate could be a major component of seed treatment systems for many crops, enabling them to perform better under conditions of climate or soil stress. The safety and ease of application of Myconate means that management practices need not be dramatically changed to permit its use.
John Brady, CEO of Plant Health Care commented: "We are delighted with this order which is the first significant sale of Myconate for application on one of our target row crops. Soybeans have a global acreage in excess of 200 million acres."
"We continue to work with several of the world's major seed and agricultural chemical providers towards establishing broad partnering arrangements for Myconate in a wide range of crops."
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For further information, please contact:
| Plant Health Care plc |
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| John Brady, Chief Executive Officer |
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| Tel: +1-603-525-3702 |
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| jabrady@planthealthcare.com |
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| Evolution Securities | Tavistock Communications |
| Tim Worlledge / Tim Redfern | Jeremy Carey/Matt Ridsdale |
| Tel: +44-20-7071-4300 | Tel: +44-20-7920-3150 |
| tim.worlledge@evosecuties.com tim.redfern@evosecuties.com | jcarey@tavistock.co.uk mridsdale@tavistock.co.uk |
Notes to editors:
About Plant Health Care plc: Plant Health Care plc ("PHC") is a leading provider of naturally derived products for plants and soil. Established in 1995 in Pittsburgh (Pennsylvania) in the United States, PHC currently has approximately 90 employees and has operations in the United States, Mexico, the United Kingdom, Spain, and the Netherlands. The Company listed on the AIM market of the London Stock Exchange in July 2004. Ticker symbol is PHC.
PHC's products are aimed at the agriculture and landscape industries and are environmentally beneficial. Through the commercialisation of these products, PHC is capitalising on current long-term trends toward natural systems and biological products for plant care and soil and water management. Further information is available at: www.planthealthcare.com.