Plant Health Care PLC New distribution agreement with EDAF (4107E)
October 28 2022 - 2:00AM
UK Regulatory
TIDMPHC
RNS Number : 4107E
Plant Health Care PLC
28 October 2022
RNS
28 October 2022
PLANT HEALTH CARE plc
("Plant Health Care" or the "Company")
Distribution agreement for commercial sales in Europe
EDAF Selected as Distributor in Portugal
Plant Health Care(R) (AIM: PHC.L), a leading provider of novel
patent-protected biological products to global agriculture markets,
has signed an agreement for EDAF Unipessoal LDA ("EDAF") to become
the exclusive distributor in Portugal for its proprietary
PREtec-containing fertilizer, PREzym(TM), for use in fruit,
vegetable and cereals crop production.
The Company expects to commence commercial sales of PREzym in
the first half of 2023. Plant Health Care and EDAF have been
working together since 2016 when EDAF became the exclusive
distributor in Portugal of the Company's proprietary ProAct(R)
plant health product. Today's announcement further strengthens the
partnership and will help Plant Health Care fulfill its ambitious
plans to grow its global footprint/market share across Europe.
Derived from natural proteins, PREtec is an environmentally
friendly technology which stimulates crop growth and ability to
withstand a variety of abiotic stresses to improve plant health and
yield. PREtec is compatible with mainstream agricultural
practices.
Plant Health Care continues to expand into new markets around
the world and is growing its relationships with major global
distribution partners. The Company is on track to achieve revenue
of $30 million by 2025 through the launch of new products and
continued organic business growth through current and future
distributor relationships.
This announcement marks the first sales of PREtec-based products
into Europe and supports farmers seeking to use more sustainable
practices. Europe is fast becoming one of the largest markets for
sustainable biological products and PREtec-containing products will
help produce higher crop yields locally to address the global food
supply crisis.
Jeff Tweedy, CEO of Plant Health Care, said: "Today's
announcement marks a significant milestone for Plant Health Care
and our ambitious plans to grow our global footprint/market share.
I am excited for our first sales of the PREtec technology in Europe
which has the potential to grow considerably and transform the
European farming industry towards a sustainable future with better
crops delivering a higher yield for thousands of farmers. EDAF has
proven to be a strong partner over the years, supporting the growth
of PHC's products in Portugal.
Pedro Tavares, CEO of EDAF Unipessoal Lda, said: "Plant Health
Care is a reliable partner, with cutting-edge technology and always
looking for sustainable solutions for an increasingly demanding
market, which allows for differentiated and technologically
advanced products. This agreement aligns with our strategy to
supply an innovative and high-quality portfolio to our customers
and is responsive to the increasing demand for sustainable
solutions. EDAF, LDA and its technical team would like to thank
Plant Health Care for all the trust placed in it to develop and
commercialize PREtec in Portugal"
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) +44 (0)7540 10666
Robin Tozer / Richard Bicknell phc@secnewgate.co.uk
/ George Esmond
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.
About EDAF Unipessoal LDA
EDAF focuses on representing and developing innovative/non
residue high quality products for the portuguese agricultural
markets. By providing qualified technical assistance, EDAF offers
innovative solutions to growers all year around.
Find out more at www.planthealthcare.com
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END
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