Crop productivity improvement products developer Plant Impact says that tagetes oil, one of the main components of its BugOil insecticide product, has been registered by the US Environmental Protection Agency (EPA).
This means that BugOil can be used on food crops and turf. The plan is to commercialise BugOil in the US. However, management says that it is still primarily focused on crop nutrient technologies.
Shares in Plant Impact rose 1.25p to 16p each, which values the company at £8.07m.
Plant Impact generated revenues of £1.9m in the year to March 2012, against £1.78m the year before, and had cash in the bank of £1.3m.
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