INCOTEC Group BV (“INCOTEC”) and Plant Health Care (AIM: PHC), a leading provider of naturally derived products to the agriculture and horticulture industries, announce that they have signed a non-exclusive, multi-year agreement to develop and market Plant Health Care’s Myconate in combination with INCOTEC’s proprietary seed treatment packages. No financial details are disclosed.
Plant Health Care will contribute its Myconate technology and introduce its current customers to INCOTEC seed treatments. The two companies will work together to develop new and novel uses for Myconate around the world.
INCOTEC, based in The Netherlands, is one of the world’s largest providers of seed treatments, technologies and services for vegetables, ornamentals and field crops.
The board of Plant Health Care believes that this deal further validates the potential of Myconate to deliver yield increases and plant health benefits.
“This is an important breakthrough in our strategy to gain market penetration for Myconate” said John Brady, CEO of Plant Health Care. “INCOTEC is an excellent partner and a major player in seed treatment with a worldwide customer base, with whom we look forward to working closely.”
Myconate is a patented, synthetic compound which encourages plant growth by stimulating existing mycorrhizal fungi in the soil and creating a bigger root mass. More than five years of successful field trials provide product efficacy with increased yields, during tests, of up to 30% depending upon crop and location. It is intended that Myconate will become a standard element of farmer’s seeding and planting programmes on a global basis.
JanWillem Breukink, CEO of INCOTEC commented: “ We are very pleased with this cooperation as we believe Myconate is a very innovative product, that in combination with INCOTEC’s products and technologies provides unique combinations to make plants stronger and to increase yields.”
About Plant Health Care plc: Plant Health Care plc (“PHC”) is a leading provider of naturally derived products for plants and soil. Established in 1995 in Pittsburgh (Pennsylvania) in the United States, 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 horticulture industries and are environmentally beneficial. Through the commercialisation of these products, PHC is capitalising on current long-term trends toward natural systems and biological products for plant care and soil and water management. Further information is available at: www.planthealthcare.com.