20th Aug 2008 07:00
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Press release |
20 August 2008 |
Plant Impact plc
("Plant Impact" or "the Company")
BugOil® - submission of European product registration dossier
Plant Impact plc (AIM:PIM), a global developer of technologies that improve crop productivity, announces that it has submitted the dossier for European registration of BugOil®, the Company's benign insect control product, to the UK Pesticide Safety Directorate (PSD). This is a key milestone for Plant Impact and the commercial development of BugOil.
Submission of the dossier is the requisite first step in a product registration process that would enable Plant Impact to sell and distribute BugOil in Europe. The dossier consists of a set of documents with comprehensive data on BugOil, which would lead to Annex I inclusion under EU directives. Annex I inclusion allows the active ingredients found in BugOil to be sold within the EU for use as a pest control agent. Pending product registration, Plant Impact expects to commence its first sales of BugOil in Europe in 2010. Plant Impact holds all intellectual property rights to BugOil.
According to independent market research based on 2006 sales figures, the global market value for the four leading active substances used for controlling the pests addressed by BugOil is estimated at more than US$1.1 billion and is growing at a rate of 4% per annum.
Earlier this year, Plant Impact signed an agreement with DVA Agro GmbH to distribute BugOil in Tanzania, East Africa, specifically targeting ornamental rose production.
Martyn Pearce, International Development Director of Plant Impact, commented: "We are pleased to have completed this important first step towards registering our product for the European market. The PSD's criteria are some of the most stringent in the world; therefore we can use the same information in gaining registrations in other regions, starting with the USA, Turkey, South America, and parts of the Middle East and Africa."
Peter Blezard, CEO of Plant Impact, comments: "Once the BugOil product registration process is complete, we will be able to sell and distribute BugOil widely throughout Europe and beyond. Along with our other products, we look forward to enabling growers worldwide to increase crop yield in a safe, sustainable and environmentally friendly manner."
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For further information, please contact:
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Plant Impact plc |
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Michael Panteli, Finance Director |
Tel: + 44 (0) 1772 333 873 |
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mike@plantimpact.com |
www.plantimpact.com |
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Grant Thornton UK LLP Nominated Adviser |
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Philip Secrett/Colin Aaronson |
Tel: +44 (0) 20 7383 5100 |
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philip.j.secrett@gtuk.com colin.p.aaronson@gtuk.com |
www.gtuk.com |
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Hichens, Harrison & Co. |
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Jeremy Chantry |
Tel: +44 (0) 20 7382 7791 |
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Jeremy.chantry@hichens.com |
www.hichens.com |
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Fiske plc |
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James Harrison |
Tel: +44 (0) 20 7448 4700 |
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james.harrison@fiskeplc.com |
www.fiskeplc.com |
Media enquiries:
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Abchurch Communications Limited |
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Justin Heath / Stephanie Cuthbert / Monique Tsang |
Tel: +44 (0) 20 7398 7700 |
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monique.tsang@abchurch-group.com |
www.abchurch-group.com |
About Plant Impact plc
Plant Impact addresses the increasing global demand for effective, sustainable and ecologically-sound products to combat environmental plant stress and improve crop productivity. Common environmental plant stresses include drought, salinity, nutrient deficiencies, pests and disease. Plant Impact's advances produce practical results that reduce inputs and benefit the whole of the agricultural value chain, providing solutions for growers, food manufacturers and consumers.
A broad product portfolio has been developed using these innovative and proprietary technologies, the most advanced of which are already being marketed and sold through established agricultural distribution networks. Products for the home and garden market are also distributed direct to consumers through reputable high street stores.
Current Plant Impact technologies include:
Alethea® - resistance to climate, water and salt stress
CaT - reduction of physiological disorders
Speedo™ - accelerated plant growth
PiNT™ - higher yielding stronger plants
BugOil® - benign pest control
For further information please visit www.plantimpact.com
About BugOil®
BugOil is a benign insect and mite control agent derived from essential plant oil technology that offers highly effective control in a non-toxic, environmentally friendly method. The pests targeted by BugOil are mites, whitefly, thrips and aphids; these pests are some of the most damaging and most difficult to control as they reproduce quickly in mass numbers and can build resistance to conventional pest control agents.
Independent field trials conducted on BugOil have demonstrated that the product has pest control abilities at least equal to, if not better, than those of current industry-standard insecticides. BugOil also provides broad-spectrum pest coverage, particularly for ornamentals such as cut flowers. All field trials were conducted to regulatory standard by independent third parties on high-value crops such as ornamentals, fruit and vegetables. To date, successful field trials have been conducted on BugOil in the USA, UK, Europe and Africa.
BugOil technology:
High level of efficacy equivalent to most current synthetic standards.
Based totally on natural plant extracts
Safe for many non-target organisms including mammals, fish, birds, and most beneficial insects (bees, earthworms, lacewings, ladybirds)
No residues and no harvest dwell
Non-toxic and environmentally friendly.
About the UK Pesticide Safety Directorate
The PSD is a UK government agency that aims to ensure the safe use of pesticides, harmonise pesticide regulation, and reduce the negative impacts of pesticides on the environment within the European Community. Amongst its responsibilities it supports the UK and EU review of the safety of pesticides on the market and provides controls on pesticides used in agriculture, horticulture and in the garden.
www.pesticides.gov.uk
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