Shares in Plant Impact responded to the news of the purchase, announced this morning, by putting on 11.6 per cent to reach 24 pence each in early trading.

Plant Impact’s PiNT product uses a nitrogen-based technology that is eco-friendly and improves plant growth. InCa, the firm’s biggest selling product last year, is a calcium delivery system that enables plants to absorb and retain calcium in tissues where it is most needed.

At the time Plant Impact’s final results for its 2011 financial year were announced in July, Jones said that he had been satisfied that the commercial progress the firm had made with InCa and PiNT was “confirmation that our direct selling and partnering strategy is working and will provide the platform for growth”.

During its 2011 financial year, Plant Impact increased its turnover to £1.8 million from £1.4 million in 2010, although increased R&D spending and a delay in its BugOil product getting regulatory clearance meant that pre-tax losses widened to £1.9 million from £1.7 million.

A week ago the firm announced it had appointed a new chief executive officer. John Brubaker, who becomes CEO on 1 September, was previously the global head of business development for Tokyo-based Arysta LifeScience Corporation – a 9.1 per cent shareholder in Plant Impact and a commercial partner of the firm.

Environmental technology business Plant Impact (LON:PIM) has announced that John Brubaker will be its next chief executive officer.

Brubaker will become CEO on 1 September and he succeeds Peter Blezard, who has resigned.

Until recently, Brubaker was the global head of business development for Tokyo-based Arysta LifeScience Corporation – a 9.1 per cent shareholder in Plant Impact and a commercial partner of the firm.

Prior to Arysta, Brubaker was the director of business development at R4 Global Solutions – a San Francisco-based technology start up that has since been acquired by Verisign.

“On behalf of the board of directors, I am delighted that the company has secured the commitment of such a high calibre individual to lead it as the CEO,” said David Jones, Plant Impact’s chairman. “Plant Impact is expanding its customer base internationally while continuing to invest in innovative new technologies, and further developing its relationships with strategic partners. For this new and exciting phase of the company’s growth, the board is confident that John will bring the right blend of skill and experience to Plant Impact.”

Plant Impact develops and sells product designed to improve the health of crops.

At the start of July, the firm reported that its turnover for the year to the end of March increased to £1.8 million from £1.4 million in 2010, although pre-tax losses widened to £1.9 million (2010: £1.7 million) due to increased R&D spending and a delay in its BugOil product getting regulatory clearance.

Plant Impact (LON:PIM) chairman David Jones told investors that he is satisfied with the commercial progress made, with its two lead products, in the past year.

This morning the group published its preliminary results statement, for the twelve months ended 31 March 2011. 

"The past year can be characterised as one of determined implementation of the Pi crop nutrient strategy,” said Jones.

During the year Plant Impact increased revenues and increased margins but increased R&D spending and a delay in the BugOil product getting regulatory clearance means that pre-tax losses widened compared to last year from £1.68 million to £1.88 million

Turnover increased from £1.41 million to £1.78 million, crucially all this year’s revenue has come from crop nutrients – whereas last year’s comparative was just £911,000. 

Margins improved to 70 percent, compared with 63 percent in the previous year. Plant Impacts research and development spend increased from £1.95 million to £2.14 million.

The group ended the period with cash of £1.17 million.

Reflecting on the year Jones added: “Choices were made to focus on two commercialised products; InCa and PiNT in crop sectors in which we believe show the greatest promise. Sales nearly doubled in the year. 

“On the other hand, the vagaries of the pesticide registration process in the UK and USA, delayed an important Arysta Life Science (ALS) BugOil milestone which led to an overall shortfall on expected revenue.

“Overall, I am satisfied that the commercial progress we made with the two nutrient  products in the  year is confirmation that our direct selling and partnering strategy is working and will provide the platform for growth.” 

It is important to point out that Plant Impacts products are still in the early stages of their life-spans and at the moment much of the groups’ work is focussed on product trials for a variety of different crops. 

Plant Impact’s plan is to demonstrate the benefits, like improved crop yields and improved produce quality, through these trails. 

In the past year the group began field trials, with Syngenta, on Soy crops in Brazil and a variety of trails are underway on potato crops. Also, in the early part of the year, the US Department of Agriculture began field trials on a variety of crops.

Meanwhile on the marketing front Plant Impact has landed a number of significant product distribution deals. 

Last summer it signed a 10-year deal with with Arysta LifeScience Mexico, giving Arysta exclusive distribution rights for sales and marketing of InCa in Mexico, Guatemala, Costa Rica, El Salvador, Honduras, Dominican Republic, Panama, Belize and parts of the Caribbean.

Then in September it landed a deal with Agrimatco. The deal cover several territories - Middle East, North Africa, Eastern Europe and Central Asia – and products including InCa, PiNT K, PiNT Ca, Balance, Saxon, Scope, CaB and Speedo.

Later, in November, in agreed a deal with a key buyer for European agricultural co-operatives, Cebeco Meststoffen, which gave its new partner exclusive distribution rights for the Netherlands, Belgium and Luxemburg, as well as non-exclusive evaluation rights for Germany. 

This deal covered the InCa, PiNT Ca, PiNT K and Alethea K products.

Since the end of the year Plant Impact agreed two further deals with Arysta, and the major lifescience group bought 4.6 million shares million shares in the company. The share subscription, which saw Arysta pay a huge 76 percent premium, was seen a significant endorsement of both the company and its management.

The deal grants Engage – which has already worked with INCA for more than two years – the right to market and sell Plant Impact’s INCA crop enhancement technology in Canada on an exclusive basis for an initial period of five years. The agreement contains customary price and sales targets that, if not met, enable Plant Impact to terminate the deal.

"Engage is a well run, respected national distributor for several international companies, now including Plant Impact, and we believe that there is a need in this market for our crop enhancement technologies,” said Pete Blezard, Plant Impact’s CEO.

INCA, the firm’s biggest selling product last year, is a calcium delivery system that enables plants to absorb and retain calcium in tissues where it is most needed.

The latest deal follows May’s news that Japanese agrochemical company Arysta LifeScience had agreed to pay a premium of more than 76 percent to acquire 4.6 million shares in Plant Impact. The firm’s shares shot up by more than 40 percent to trade higher than 36 pence each on 26 May, the day the Arysta deal was announced.

In early trading today, Plant Impact’s share price was up a penny at 28 pence.

Arysta paid 45 pence each for the approximately 4.6 million shares that it has acquired through the share subscription, which represents a premium of more than 76 per cent to Plant Impact’s closing share price of 25.5 pence yesterday.

The Tokyo-based company, which is the world’s largest privately-held crop protection and life science firm, will hold around 9.1 percent of Plant Impact’s shares once the subscription is completed.

The company, which develops and sells products designed to improve the health of crops, has also signed two deals with Arysta.

The first covers the commercial development of Plant Impact’s PiNT technology in the ‘turf and ornamental’ markets in the US – including the large US professional golf market. The second covers the commercial development of both PiNT and InCa technologies for use in horticulture in Brazil.

Plant Impact plans to use half the new funds announced today to work with Arysta on the commercial development programmes outlined above. The remainder of the funds will be used for product development, recruitment of new sales and development staff and to enable the company to carry out further product branding and marketing.

"I am delighted that Arysta Lifescience has chosen to invest in Plant Impact so that we can implement this growth strategy together. We feel that this shows industry confidence after several years of successful trials,” said Peter Blezard, Plant Impact’s CEO. "The proceeds from the subscription will give us the financial strength to continue the growth of other parts of our business."

Plant Impact’s PiNT products use a nitrogen-based technology that is eco-friendly and improves plant growth. InCa, the firm’s biggest selling product last year, is a calcium delivery system that enables plants to absorb and retain calcium in tissues where it is most needed.

In a trading update also announced today Plant Impact said that although revenues from the sale of its crop nutrients were in line with expectations, the ongoing regulatory approval review in the US of its BugOil insectide means that the firm did not received of £0.5 million milestone payment during the year ended 31 March 2011.

Consequently, Plant Impact expects its loss for the year to be greater than previously anticipated.

Jones comes with a wealth of experience of the agricultural technology sector. From 2008 he was chairman of Arysta Life Sciences and has held senior positions at world leader Syngenta and before that Zeneca.

Chief executive Peter Blezard said: "I have known David for some time and appreciate his knowledge of the sector.  

“I am very pleased to welcome him as chairman.  

“With his wealth of business experience in world agriculture, I believe he will provide excellent leadership to the board and management and I look forward to working closely with him as we drive the business forward."

Plant Impact is an environmental technology business that is focused on developing what it describes as “low-input products” for sustainable agriculture.

The firm, which is based in Preston in the north-west of England, was founded eight years ago and floated on AIM in October 2006.

It sells, and is still developing, a range of products that are designed to significantly improve the health of crops in an environmentally-friendly way. 

Jones today said: "Having watched the development of Plant Impact over the past several years, I have been impressed by their progress with an exciting portfolio of crop enhancement products.  

“I believe that Plant Impact is one of the very few companies that are applying fresh thought and novel science to this sector.  

“Any company that can meaningfully contribute to the crucial business of raising global crop yields in a sustainable manner will undoubtedly be rewarded in the market place.  

“I am delighted to be invited to lead the development of Plant Impact's science into what I consider will become an appreciable global business."

Plant Impact (LON:PIM) is making significant progress on the route to commercialization, according to independent company research specialists Equity Development.

Denis Gross, Equity development analyst, beleives that Plant Impact will be able to accelerate its commercialisation timeline, with the help of its three well chosen strategic partners - Arysta LifeScience, Agrimatco and Cebeco.

The company is developing new types of crop protection products. Its products provide ‘stress relief’ to plants, in the sense that they tackle abiotic stress - negative environmental effects - arising from temperature, salinity, drought and light. 

So far Plant Impact has developed five technologies, with associated patents, and a broad range of high quality products that it believes represent the future of sustainable agriculture and food production.

One of the key drivers of the Plant Impact story are the many ongoing field trials that are testing its products on a variety of crops in many different environments – including the Netherlands, the UK and Kenya.

In his note to investors Denis Gross highlighted Plant Impact’s success with the trials, particularly the study of InCa’s - a calcium delivery system - effect on potato crop yields.

“Trial results to date continue to be very encouraging,” 

Gross adds: “These trials showed that: InCa increased marketable yield; improved the overall quality of the potatoes; and enhanced storage and shelf life.”

The analyst, using a conservative discounted cash flow model (with a 20 percent discount rate and a 1 percent long-term growth rate),  values Plant Impact a 58 pence per share.

The crop nutrition and protection specialist received no milestone payments from the development of the eco-friendly insecticide in the six months to September 30 compared with £500,000-worth in the same period last year.

The aim during the period was to “progress BugOil through the regulatory approval process”.

However both the US and UK watchdogs have asked for additional studies on the product. Here in the UK, approval is expected in the first quarter of 2011. 

“The US authorities have informed Plant Impact that due to unprecedented workloads their review of the dossiers and the approval will be delayed until the first half of 2012. Plant Impact is in negotiations with the US authorities to reduce this timeline,” the company told investors.

The news was contained in the interim results statement which showed the company’s operating loss grew to £1.15 million from £879,381. 

Turnover dropped to £638,409 from £969,554, though sales of crop nutrition products grew 36 percent to £638,409. It had more than £1.7 million of cash at the year end.

Chairman Martin Robinson said: "Plant Impact has made progress on many fronts in the last six months. 

“Crop Nutrient sales and product gross margin have increased, we signed new distribution agreements, commenced trials on broad acre crops with Syngenta and received excellent results from our turf trials with the USDA.

“Total turnover for the period is down on last year as a result of delays in the relevant approval of our BugOil product. 

“However crop nutrient turnover has improved on last year mainly as a result of encouraging results from Northern Europe and despite climatic problems in North America and continuing economic uncertainty in Spain. 

“Despite a reduction in turnover, we anticipate that the group's loss for the current year will be broadly in line with our expectations.

“We continue to make exciting progress with a number of major partners and hope to announce further commercial arrangements with these agrochemical companies shortly."  

Crucially, Brazil's location in the Southern Hemisphere will give Plant Impact a second development growing season for its crop nutrition and protection products.

The Brazilian Ministry of Agriculture granted national product registrations for Plant Impacts products InCa, PiNT Ca, PiNT K and Scope.

The company described it as a key milestone, highlighting the scale of the country’s agricultural industry.

According to Plant Impact, Brazilian farmers grew around 21 million hectares of soybean, 14 million hectares of corn, 2 million hectares of coffee bean and 1 million hectares of cotton in 2008. 

“The company considers the Brazilian agricultural market to be a major opportunity,” Plant Impact said.

Plant Impact is working with major partners in Brazil - including Arysta, Syngenta and the Brazilian Agricultural Research Corporation (EMBRAPA).

“The directors believe that there are major unmet needs already identified in plant nutrition and crop protection where Plant Impact's products can assist,” the company said.

“The knowledge generated from the initiatives in Brazil will also contribute to Plant Impact's commercial development of InCa, PiNT Ca, PiNT K and Scope.”

Plant Impact has developed five technologies, with associated patents, and a broad range of high quality products that it believes represent the future of sustainable agriculture and food production.

The company has been expanding it geographic reach and this move into Brazil follows an important European distribution deal, announced yesterday.

Plant Impact agreed a distribution and evaluation deal with a key buyer for European agricultural co-operatives, Cebeco Meststoffen BV.

The deal covers Plant Impact’s crop nutrient products - InCa, PiNT Ca, PiNT K and Alethea K. It gives Cebeco exclusive distribution rights for the Netherlands, Belgium and Luxemburg, as well as non-exclusive evaluation rights for Germany.

InCa is a calcium delivery system which enables plants to absorb and retain calcium in tissues where it is most needed and especially in parts of the plant that would not naturally absorb calcium under normal growth conditions.

PiNT technology takes amine Nitrogen and binds it into a complex which resists leaching and allows plants to access nitrogen in a form they can utilise to build strong healthy growth. The technology is incorporated in the PiNT Calcium and PiNT Potassium products, or PiNT Ca and PiNT K in short.

Scope is based on Plant Impact’s patented Alethea technology, geared to solving the problems of abiotic stress. Scope provides resistance to all forms of abiotic (climatic) stresses such as heat, cold, excess luminescence, high salts, drought and flood.

Balance, featuring Speedo technology, is a natural chemistry which accelerates reproductive growth and leads to earlier plant maturity.

Saxon, also derived from Speedo technology, reduces transient deficiencies during vigorous growth, flower and fruit development – allowing the plant to achieve its maximum potential.

The deal covers Plant Impact’s crop nutrient products - InCa, PiNT Ca, PiNT K and Alethea K. It gives Cebeco exclusive distribution rights for the Netherlands, Belgium and Luxemburg, as well as non-exclusive evaluation rights for Germany.

“Plant Impact and Cebeco have developed a close working relationship,” chief executive Peter Blezard said.

“We believe that the Dutch market is key to Plant Impact both commercially and technically and having a partner like Cebeco will ensure maximum market potential."

According to Plant Impact the Netherlands is one of the most technically advanced countries for agriculture and horticulture. 

It believes that Dutch agriculture acts as a portal to the rest of the world, and innovations proven in the Netherlands are often adopted by farmers worldwide.

More specifically the region is clearly an important focus, with more than 470,000 hectares of potato crops in the Benelux countries and Germany. 

Plant Impact and Cebeco have been working together for more than 2 years, as part of a significant field trial development programme. 

More than 40 field trials have been carried out by Cebeco, at independent centres in the Netherlands and Germany. The trials have covered various crops including potatoes, sugar beet, onions, carrots, apples and cherries. It has also conducted demonstration trials with growers.

Cebeco was initially focused on the fruit and vegetable market during the early field trials, but more recently it has placed more importance on potato trial. 

Cebeco said that Plant Impact’s products can provide a solution that it has spent many years looking for.

"We are facing a huge challenge to produce more and improve quality of crops, Plant Impact can contribute towards addressing those challenges,” Cebeco’s commercial manager Jan de Laat.

He added: “[The deal] provides us with an excellent opportunity to develop better ways to produce more crops and improve results for farmers."

Plant Impact has developed five technologies, with associated patents, and a broad range of high quality products that it believes represent the future of sustainable agriculture and food production.

The agreement covers countries in the Middle East, North Africa, Eastern Europe and Central Asia.

The additive products covered by the deal include InCa, PiNT K, PiNT Ca, Balance, Saxon, Scope, CaB and Speedo.

The importance of Agrimatco as a strategic partner was reflected in its geographically spread distribution chain and 85 sales outlets, said the company, adding that the deal increased the field trial development programme and boosted the commercial potential of the crop nutrient products.

“We are delighted to announce this agreement which further demonstrates the potential of Plant Impact's products in key territories.

“Agrimatco are and will continue to be a valued and influential partner to Plant Impact,” said Plant Impact Chief Executive of Plant Impact Peter Blezard.

Agrimatco said that the addition of Plant Impact’s products to its portfolio is in line with its strategy of providing the best quality products and services to local farmers.

Under the terms of the agreement, Agrimatco will have exclusivity to evaluate the crop nutrient products until 31 December 2011.

Following the successful completion of the evaluation, Agrimatco will ensure that products are registered locally and will market and distribute these products on an exclusive basis.

Detailed development and distribution agreements will be signed country by country.

About a month ago, Plant Impact signed an agreement with Syngenta Brazil to carry out field trials on its crop nutrition and protection products CaT and PiNT. CEO Blezard said the deal was “potentially huge”.

Once the programme is completed it opens up an initial target market of three million hectares of soybean production, one million hectares of corn and 300 hectares of both cotton and coffee.

To date, Plant Impact has developed five technologies, with associated patents, and a broad range of high quality products that it believes represent the future of sustainable agriculture and food production.

Steven has a PhD from The University of Reading and extensive applied horticulture research experience. Steven's last role before joining Plant Impact was principal investigator at Warwick HRI, The University of Warwick (formerly Horticulture Research International).

Steven has also held roles as associate editor of The Journal of Horticultural Science and Biotechnology, acts as a scientific advisor to the Protected Edible and Protected Ornamental Crop Panels and has lead projects funded by UK regulatory body DEFRA and the Agriculture and Horticulture Development Board (AHDB).

CEO Peter Blezard commented: " With a portfolio of new technologies in the wings and an increasing emphasis on international validation of the company's technologies among leading scientific institutions and potential commercial partners in USA, Brazil and Europe, it is crucial we have someone of Dr Adams expertise and experience to direct activities. Dr Adams appointment is indicative of the company's continuing commitment to underpin the commercial value of Pi innovative technologies, with sound science."

Plant Impact develops and markets ecologically friendly crop nutrition and crop protection products. These products improve crop yields by reducing plant stresses caused by temperature, salinity, drought and light. The company sells its products directly and through licensing agreements with international agrochemical companies. The directors believe that Plant Impact is differentiated from its competitors by marketing effective and environmentally friendly products.

Plant Impact has four key technologies marketed initially to the high value fruit and vegetable crop sectors; Bug Oil, CaT, PiNT and Speedo. The next two years will be dominated by CaT and PiNT sales to existing markets, and BugOil milestone payments in advance of its international roll out through Arysta, a global top ten agrochemical company.

The research house noted a significant increase in revenues from £830,000 to £1.4 million in its recently published full year results, as well as increased crop nutrient sales through direct sales to growers and through its distributor in the US. The gross margin for nutrient product increased from 47.6% in the previous year to 63% due to increased sales of the company’s highest margin product InCa. Its sales grew significantly in the US, UK and Eastern Europe, while overall sales in thse regions and also Africa were “encouraging” with Plant Impact achieving repeat orders, expansion in field trial development and crop coverage.

While revenues climbed, the operating loss was slashed to £1.66 million from £2.55 million, reflecting the improved volumes and margins on nutrient sales and income from initial milestone payments for BugOil. The loss for the year declined from £2.26 million to £1.42 million.

Cash balances at 31 March 2010 stood at £2,895,025, compared with £756,012 for the year ended 31 March 2009.
BugOil approval in the US and UK is scheduled for Q1 2011 with regulatory approvals anticipated in 23 countries by 2013 with first sales expected in 2011. The report noted that the company and partner Arysta LifeSciences had committed significant resources pursuing regulatory approvals progress for BugOil.

Equity Development said that the company achieved revenue increases through its past and continuing work with growers.

“A lengthier process underway is the engagement with government and food agencies around the world, but their technologies and products are well positioned to succeed in this conservative market and we believe the company is poised to make an order-of-magnitude step-change in its business,” said Equity Development Research.

The report said that another strong encouragement for the company’s products' use in broad acre crops came in the form of a recent success in potato field trials, adding that a step-change could come if the company successfully entered the arable crops market, which is valued in excess of US$100 billion.

The timeline of the growth trajectory was hard to define at this stage, but Plant Impact’s technology could play a significant role in the market, offering a sustainable solution to the challenges of global food security, added Equity Research.

Earlier this month, Plant Impact signed a distribution agreement for its InCa calcium delivery product, with Arysta LifeScience’s Mexico-based subsidiary, extending its territorial coverage from 24 to 52 countries, and increased the field trial development of the Crop Nutrient Products - with Arysta planning some 350 field trials over the next 12 to 18 months to take total number field trials over the 500 mark.

Plant Impact has developed five technologies, with associated patents, and a broad range of high quality products that it believes represent the future of sustainable agriculture and food production.