September 20, 2010
Plant Health Care, a leading provider of naturally derived products to the agriculture and landscape industries, announces that it has signed an exclusive agreement with Germain’s Seed Technology, a subsidiary of Associated British Foods plc, to develop and market Plant Health Care’s Harpin proteins as a seed treatment for sugar beets worldwide in combination with Germains’ seed priming technologies. The combined treatments will have the potential to be used on all sugar beet seed, which annually occupy more than 10 million acres worldwide.
Germains, part of the British Sugar Group, is the largest independent seed treatment company in the world. It develops and markets seed priming technologies, and through its Advantage® and XBEET® systems, is the leading provider of priming treatments for sugar beet seed. It currently has a market share in sugar beets of over 40% in the US, over 35% in the Western and Central European markets and a strong presence elsewhere in the world.
Harpin is a specific protein that activates a plant’s innate ability to protect itself and enhance growth and yield. The technology offers yield improvement, the suppression of pests like nematodes and protection against damaging diseases, as well as additive plant health benefits. In trials, Harpin, applied as a seed treatment, has been shown to significantly reduce nematode infestations and increase yields on a variety of crops. Plant Health Care currently has a license in place with Monsanto Company for the use of a specific Harpin protein on major row crops and vegetables. This sugar beet license is the first of several agreements currently being pursued by the company in order to deliver Harpin seed treatments to an increasing range of crops and to a larger acreage worldwide.
Plant Health Care believes that this agreement with Germains clearly demonstrates not only the potential of the company’s Harpin technologies in higher value specialty crops but also the breadth of potential partners available for the commercialization of its technologies.
John Brady, CEO of Plant Health Care said, “We are thrilled to be working with yet another world leading company that has recognized the enormous potential of Harpin. The commitment of Germains to invest in the development of Harpin as a component in sugar beets combined with its worldwide market presence again validates the expectations of our Harpin portfolio.”
Mr. Paul Mullan, Managing Director and CEO of Germains Seed Technology said, “Yield enhancement technologies are a core part of our vision to maximize nature’s potential. At a time when pressure on land, water and resources is greater than at any time in human history, Germains exists to help its customers maximize the productivity and cost-effectiveness of their crops. This opportunity to work with Plant Health Care will allow us to build industry-leading combinations of the latest technological and biological tools and techniques to enhance the natural potential of sugar beet seed.”
Plant Health Care plc (“PHC”) is a leading provider of naturally derived products for plants and soil. Established in 1995 in Pittsburgh, Pennsylvania, PHC currently has approximately 90 employees and has operations in the United States, Mexico, the United Kingdom, Spain and the Netherlands. The Company’s ordinary shares have been quoted on the Alternative Investment Market (“AIM”) of the London Stock Exchange since July 2004 and listed on the Official List of the Channel Islands Stock Exchange (“CISX”) in February 2010 (ticker symbol/mnemonic: PHC).
PHC’s products are aimed at the agriculture and landscape industries and are environmentally beneficial. Through the commercialization of these products, PHC is capitalizing on current long-term trends toward natural systems and biological products for plant care and soil and water management. For more information, go to www.planthealthcare.com.
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