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Plant Impact
- BY: Andrew Hore |
- POSTED: 27/06/2008 |
Plant Impact expects to submit its dossier for EU approval of BugOil by the end of July.
Management believes that the regulatory approvals could be obtained one year after that.
The company believes that BugOil is the first green insecticide that meets commercial standards. It has already signed a commercial deal in Tanzania, where BugOil will be used on roses.
Plant Impact has spent £2m-£3m developing BugOil, whereas ordinary pesticides can cost £100m to develop.
There should be plenty of field trial data from other company treatments being generated over the next few months. Much of this data is likely to be published in September.
It is still early days for the company and a fall in revenues from £377,000 to £285,000 in the year to March 2008 isn’t significant. The loss was flat at £1.85m. There was nearly £3m in the bank at the end of March and cash burn isn’t expected to go above £180,000 a month.
At 45.5p a share, Plant Impact is valued at £12m.
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