3rd Jul 2015 07:00
For Immediate Release 3 July 2015
Plant Impact plc
("Plant Impact" or the "Company")
Launch of Cocoa Yield Enhancement Product - Banzai™ with Arysta LifeScience
Plant Impact (AIM: PIM), an agricultural bioscience company that develops and markets crop enhancement and specialty nutrition products today announces, together with Arysta LifeScience Africa, India and Middle East (AIME), the launch of BANZAI™, a new product that improves cocoa yields under stressful growing conditions.
BANZAI™ is based on Plant Impact's Alethea™ technology, and Arysta LifeScience will become the exclusive marketer for the product in the important cocoa-producing countries of Ivory Coast, Ghana, Cameroon, Nigeria and Togo. Together, these countries account for more than 70 percent of total global cocoa production. This is Plant Impact's first crop enhancement product for cocoa and a potentially significant new revenue stream for the Company.
In 2011, Arysta LifeScience made a strategic equity investment in Plant Impact, in connection with Arysta LifeScience's evaluation and distribution of certain Plant Impact products and technologies. Over the past three years, the companies have collaborated to evaluate and test Plant Impact's technologies in West African cocoa-producing conditions. This newly-announced launch of the product BANZAI™ marks the important beginning of the commercial growth phase for this product.
BANZAI™ is a foliar spray applied to cocoa trees to reduce the stress and resulting loss of cocoa pods (fruit) caused by widespread diseases such as Black Pod (phytophthora spp.). In certain cases, use of BANZAI™ may enable growers to reduce other traditional chemical inputs, improving the environmental sustainability of overall cocoa production. Recent demonstration trials in Cameroon have shown yield improvements in excess of 25 per cent.
Under the arrangement between the companies, Arysta LifeScience will exclusively market BANZAI™ to regional distributors, cooperative boards and growers, and Plant Impact will provide structured technical support.
Patrick Dupard, CEO of Arysta LifeScience West Africa and MENA business commented: "Our strategic aim is to offer the West African cocoa grower a complete, integrated solution, including agrochemicals, biosolutions, fertilizer, equipment and advisory services. The launch of BANZAI™ with Plant Impact in the Ivory Coast this year is an important step forward in our development of full grower offers to support sustainable, low-residue cocoa production."
John McGillivray, Plant Impact's Commercial Director for Europe, Middle East and Africa (EMEA) added: "We are delighted to announce the launch of BANZAI™ with Arysta LifeScience. Arysta has a long history and a leading presence in the region which makes it an ideal partner for Plant Impact. The launch of BANZAI™ marks our Company's first entry into small-holder cropping markets, and we are pleased to work with a local expert like Arysta to ensure the commercial and technical success of the product."
For more information please contact:
Plant Impact plc | |
David Jones, Chairman John Brubaker, Chief Executive Officer | Tel: +44 (0) 1582 465 540
|
Peel Hunt - Nominated Adviser and Broker | |
Dan Webster Richard Brown George Sellar
Buchanan Charles Ryland Sophie Cowles Jane Glover | Tel: +44 (0) 207 418 8900
Tel: +44 (0) 207 466 5000
|
About Plant Impact
Plant Impact is a leader in plant science innovation. The company develops and formulates products that realise and enhance crop capacity, enabling growers to improve quality and deliver consistently higher marketable yields. The company's products and technologies are backed by a robust research and development programme, managed from its head office and research facilities at Rothamsted, Harpenden, United Kingdom. Plant Impact's shares are publicly traded on the AIM market of the London Stock Exchange, where its ticker is PIM. Find more information at www.plantimpact.com
About Arysta LifeScience
Arysta LifeScience, now owned by Platform Specialty Products, is a leading crop protection and life science company with 2014 revenues of US $2.2 billion. An entrepreneurial provider of crop protection and life science products in more than 125 countries worldwide, Arysta LifeScience specializes in marketing and distribution of respected crop protection brands and life science products that meet the needs of its global partners. Find more information at www.arystalifescience.com
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