Plant Health Care PLC Novozymes Distribution Agreement (4546M)
January 12 2023 - 2:00AM
UK Regulatory
TIDMPHC
RNS Number : 4546M
Plant Health Care PLC
12 January 2023
12 January 2023
Plant Health Care plc
("Plant Health Care" or the "Company")
Plant Health Care ("PHC") and Novozymes Announce Distribution
Agreement to Commence First Harpin ab Commercial Sales in India
Plant Health Care(R) (AIM: PHC.L) and Novozymes South Asia Pvt.
Ltd. ( NASDAQ OMX: NZYM-B) have signed an agreement for the
exclusive distribution of Harpin ab for use in sugar cane
production in India.
First commercial sales are expected to commence in the second
half of 2023, after receipt of the required regulatory approvals.
This is the first product introduced into India by PHC. India is
the world's second largest producer of sugar cane with about five
million hectares under cultivation. Harpin
<ALPHA><BETA> has been used on more than 180,000
hectares of sugar cane in Brazil since the launch in 2018.
Evaluated by Novozymes in prior growing seasons in India, the
application of Harpin ab to sugar cane bolstered crop yield by more
than 10% on average. Harpin <ALPHA><BETA> 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 <ALPHA><BETA> has a very favorable human and
environmental safety profile.
Jeff Tweedy, CEO of Plant Health Care, said: "Building on the
success of our Harpin <ALPHA><BETA> product on sugar
cane in Brazil, it was natural to launch the product in India, the
world's second largest producer of sugar cane. Novozymes is a
leading supplier of biological products to sugar cane processors in
India and will be a strong distribution partner for Plant Health
Care's technology. Commencing commercial sales in India will
materially support continued strong revenue growth at PHC
consistent with previously announced aspirations. First sales in
India are expected in H2 2023 pending regulatory approvals."
Shanmugam Sambanthan, Novozymes India Commercial Head of
Agriculture commented: "Sugarcane production must be increased in
order to achieve the transition to cleaner energy sources envisaged
under India's National Policy on Biofuels. Novozymes is delighted
to be working with Plant Health Care to offer Indian farmers a
revolutionary biostimulant, Harpin <ALPHA><BETA>, that
enhances sugarcane yield and provides superior economic
returns."
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
Novozymes Media Relations +45 30 77 05 52
Lina Danstrup, Head of Media Relations lind@novozymes.com
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 www.planthealthcare.com
About Novozymes
Novozymes is the world leader in biological solutions. Together
with customers, partners, and the global community, we improve
industrial performance while preserving the planet's resources and
helping build better lives. As the world's largest provider of
enzyme and microbial technologies, our bioinnovation enables higher
agricultural yields, low-temperature washing, energy-efficient
production, renewable fuel, and many other benefits that we rely on
today and in the future. We call it Rethink Tomorrow.
http://www.novozymes.com
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