Shares in Plant Health Care PLC (AIM:PHC, OTCQB:PLHCF) grew almost 6% on Friday morning as the company confirmed its fungicide has been approved for use by the Brazilian government.
AIM-listed Plant Health Care’s biochemical fungicide, PHC279, is designed to control disease in sugar cane and coffee, of which Brazil is the world’s largest producer.
“This product will help Brazilian farmers sustainably produce crops and supports the company's vision to be a leading global provider of peptides,” boss Jeff Tweedy said.
Adding it was on track to score revenue of US$30 million by 2025, Plant Health Care said this would be done through new product launches and future distributor relationships.
Shares sprung up 5.88% to 9.9p.