Agrinos achieved Sales Revenue of USD 2.3 million in H1 2016

1)Agrinos and EuroChem Group AG (“EuroChem”) enter into Equity Investment, Sales & Distribution and Research & Development Agreements
 

2)Private Placement with Manor Investments, Havfonn AS and EuroChem raise USD 20 million to support Agrinos business development strategy
 

3)Rudolf von Plettenberg appointed to Agrinos Board of Directors
 

4)Distributor Relationship with Dehua and Huapu to Bolster Farmer access to Agrinos products in China
 

5)Partnership with Geolife Agritech will expand presence of High Yield Technology Biological Crop Inputs for Organic Farming in India
 

6)Agrinos receives OMRI Certification for iNvigorate, B Sure and Agrinos 5-0-0 in the US
 

7)Fabricio Benatti joins Agrinos as Vice President, Latin America Commercial Operations
 

8)H1 2016 Sales Revenue of USD 2.3 million vs. USD 2.5 million in H1 2015, with significant increase in H1 sales revenue in the core geographies of North America and India
 

9)H1 2016 Operating Expenses reduced by USD 1.0 million vs. H1 2015, a 10% reduction as a result of improved cost management throughout the Company

“In the first half of 2016 the Company accomplished all milestones established as a part of our long-term strategy.  Agrinos has realized improved sales revenue in core markets, improved cost management, continued development of our new Microbial Crop Input Production Facility and Research & Development capabilities in the United States, and made considerable progress in developing the collaborative efforts with our strategic partner, EuroChem.  Our partnership with EuroChem was announced in Q1 2016 as part of a USD 20 million private placement in which strategic investment partners Manor Investments SA (“Manor”) and Havfonn AS (“Havfonn”) participated along with EuroChem to support Agrinos’ long-term growth strategy.” said Chief Executive Officer, D. Ry Wagner. 

 

“Our successful private placement with Manor, Havfonn and EuroChem was an important validation Agrinos’ sharp focus on core markets, development of a best-in-class research and development, and enhanced production capabilities.  Furthermore, the collaborative relationship between EuroChem and Agrinos with regard to both the sales and distribution of Agrinos High Yield Technology (HYT®) products, and the development of innovative products that integrate mineral fertilizers with biological crop nutrition technologies, sets the stage for continued growth in our current and new markets, with both existing and next generation technologies.”

 

“Agrinos also has entered into new commercial partnerships with key distribution channels and growers in major agricultural markets, including, but not limited to, launching relationships with GeoLife Agritech in India and with Dehua and Huapu in China.  Aligned partnerships, in combination with continued growth through existing channels has resulted in double-digit revenue growth in several key geographies during the first half of 2016.  Furthermore, Agrinos has filled a critical leadership position with Fabricio Benatti joining the company as Vice President for Latin America Commercial Operations, and welcomed Rudolf von Plettenberg, Head of Premium Products and Development of EuroChem Agro, to the Agrinos Board of Directors.”

 

“”Agrinos is very satisfied with our Q1 and Q2 performance. Our ability to meet or exceed our planned goals for the first half of the year includes topline revenue, strengthening strategic core capabilities, and reducing our operational expenses (vs. the same period in 2015) through diligent cost controls.  As the year progresses, I anticipate that additional major milestone accomplishments will include the completion of our new U.S. Microbial Crop Input Production Facility, continued revenue growth in key markets, and the development of our collaborative partnership with EuroChem.  Each milestone is aligned with our long-term growth strategy and fully supported by the Agrinos team. I look forward to working with the dedicated professionals within Agrinos, and within our partner organizations, to deliver on our strategy for 2016 and beyond.” Wagner concluded.