Plant Impact
Plant Impact specialises in plant stress relief. Plant Impact provide a dynamic and uncompromising new approach to crop nutrition and crop health, giving growers significantly increased marketable yields, more consistent quality with reduced environmental impact, leading to the ethically grown food demanded by consumers and the food chain.
Plant Impact enters exclusive evaluation, development and distribution deal with Arysta
Plant Impact (AIM: PIM) has announced an exclusive evaluation, development and distribution agreement with Arysta LifeScience Corp covering its InCa, Balance and Cocoa Stress Tolerance products, extending Plant Impact’s territorial coverage from 24 to 52 countries.
The deal will also increase field trial development of the Crop Nutrient Products as Arysta is planning some 350 field trials over the next 12 to 18 months, resulting in more than 500 field trials being conducted, thus lifting the products’ commercial potential.
Under the agreement, which covers countries in North America, Central and Latin America, Europe, Africa and the Far East, Arysta will have exclusivity to evaluate the products until 31 March 2011, after will the company will register, market and distribute the products on an exclusive basis.
“Agriculture is challenged to feed the world during a time when the population is increasing and natural resources are decreasing. We firmly believe that new science and technologies that are sustainable, environmentally safe, which increase crop marketable yield and yet are able to decrease wastage and conserve natural resources are the way forward. Plant Impact has such science and technologies. With this agreement our company has significantly expanded its route to market and continues to prove efficacy and commercial viability,” said Chief Executive of Plant Impact Pete Blezard.
Plant Impact reported on its interim results last month, saying that revenues amounted to £969,554 compared to £225,287 for the equivalent period of the previous year, while losses narrowed to £879,381 from £1.3 million a year ago. The increase in revenues was largely due to the sales of nutrient products in the US and milestone payments for pesticide product BugOil after the company entered into a licensing agreement with Arysta.
Plant Impact has also signed an extramural agreement with the United States Department of Agriculture (USDA) for extensive trials on its nitrogen delivery technology PiNT. The company has recently been appointed as a member of the parliamentary science committee to the UK House of Commons and its work with the USDA, which it said was key to the widespread commercialisation of its products.
Earlier this month, Plant Impact reported positive results of the studies of its PiNT technology, aimed at enabling higher yielding stronger plantsPiNT, conducted by the US Department of Agriculture (USDA), which it said enabled it to further penetrate a lucrative market.
Investment research company Equity Development Research issued a note on the company in December, noting what it said was “significant progress in terms of commercializing key technologies over the past six months” and maintaining its price target of 60 pence for the stock.
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Other Plant Impact news
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25/02/10 Plant Impact raises £2.1 mln to boost field trials and expand into new markets
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03/02/10 Plant Impact reports positive results from PiNT studies by US Department of Agriculture
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18/01/10 Plant Impact’s INCA shortlisted for Grower of the Year Award
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07/01/10 Plant Impact COO Thompson resigns to pursue other interests