Jul. 14, 2015
Plant Health Care (AIM: PHC), a leading provider of novel patent-protected biological products to global agriculture markets, is pleased to announce that it has received its first product registration in Brazil from the Brazilian Ministry of Agriculture. With this registration, the Company and its partners will be allowed to sell products based on its current generation of commercialized protein technology for foliar use on all crops.
Plant Health Care's protein technology is now approved for usage in 12 countries, including Brazil and the United States, which represent the two largest agricultural markets in the world. In addition, this registration allows the Company to move forward with the development and distribution agreement it signed with Arysta LifeScience in December, 2014 for foliar application of its technology to sugarcane in Brazil. Under that contract, Arysta LifeScience agreed to evaluate the Company's current protein technology across a range of geographical locations throughout Brazil and generate detailed information on increased biomass and sucrose production. In earlier studies, the technology showed significant and reliable increases in sugarcane yield. Pending consistent and reliable test results in the evaluation program, first sales of the product in Brazil are anticipated in the 2017 crop season.
Paul Schmidt, CEO of Plant Health Care, commented, "This registration is very significant to Plant Health Care as Brazil is the single largest agricultural market in the world. Sugarcane is one of the country's most important crops, covering more than 20 million acres, and a feedstock for the production of ethanol, which is a major component of Brazil's renewable fuel policy. Arysta LifeScience is a strong partner for the sugarcane market and we see the potential to establish a formidable position in this important sector."
João Marcos Ferrari, President & CEO of Arysta LifeSciences Do Brasil, commented, "We are excited to move forward with Plant Health Care in this collaborative effort. We have seen this technology provide significant increases in yield and sugar production in sugarcane and believe it will offer substantial benefits to growers. This is another important step toward our goal to be a leader in the applications of biological products in agricultural production."