Last checked at 22 Aug 2022 07:00
22 August, 2022
Plant Health Care plc
("Plant Health Care" or the "Company")
Trials agreement signed with Agrii UK
Plant Health Care® (AIM: PHC.L), a leading provider of novel, patent-protected biological products to global agriculture markets, announces a trials agreement with Agrii UK ("Agrii") under which Agrii will evaluate Plant Health Care's novel PREtec technology.
Highlights
Preliminary Plant Health Care studies indicate promising results with PREtec products in potatoes, resulting in improved potato quality and yield, with significantly lower environmental impact than many agrochemical treatments. Agrii will now conduct field trials of PREtec products on UK potatoes, in combination with a novel Agrii fertilizer blend.If trials prove successful, Plant Health Care and Agrii will, subject to regulatory and other approvals, look at opportunities to bring the product to market in 2023.Agrii is a leading provider of crop inputs, agronomy advice and services to arable, fruit and vegetable growers in the UK.
Background
Plant Health Care has invested more than $25 million in its PREtec peptide technology platform ("Vaccines for Plants"). PREtec is a novel class of technology which stimulates a plants' immune system to defend itself from a variety of abiotic stresses to improve plant health and yield. Derived from natural proteins, PREtec is an environmentally friendly approach to protecting crops and is compatible with mainstream agricultural practices.
The Company plans to deliver at least one major launch of a PREtec product every year. Saori was the first product to be launched from the PREtec platform, in Brazil in 2021. Similar launches of PREtec technology are planned for US markets in 2022 and 2023.
Pressure on farmers to move to more sustainable practices is very strong in Europe. As a result, Europe is now the largest market in the world for biological products. The commencement of field trials in the UK is a key step for Plant Health Care in preparing to launch a PREtec product in Europe.
With more than 140 thousand hectares of potatoes planted annually in the UK, the crop represents a significant target for Plant Health Care. Extension to other crops in the UK is expected over time.
Jeff Tweedy, CEO of Plant Health Care said, ‟Plant Health Care has had a long-term successful relationship with Agrii for the distribution of our ProAct® product. I am very pleased now to continue the relationship to include trials for PREtec-based fertilizer products and explore the full potential of this new opportunity with a leading distributor in the agriculture sector in the UK."
For further information, please contact:
Plant Health Care plc Jeff Tweedy, CEO | +1 919 926 1600 |
Cenkos Securities plc - Nomad & Broker Neil McDonald / Pete Lynch | +44 (0) 131 220 9771 |
SEC Newgate (Financial Communications) Robin Tozer / Richard Bicknell / George Esmond | +44 (0)7540 10666phc@secnewgate.co.uk |
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 the company website: www.planthealthcare.com