Press Releases
RSGF COMPLETES PLANT IMPACT PLC DEAL
22 September 2005
The RisingStars Growth Fund has completed an investment in Plant Impact plc, the plant health technology company, as part of a syndicate of private equity investors. In addition, the Pi Board has been strengthened with the appointment of Martin Robinson and Gordon Harman as Chairman and Financial Director respectively.
The investment from RisingStars Growth Fund will be used for the further development of Plant Impact, in particular expansion of licensing, marketing and distribution of its products such as Pi NT for crop health, increased R&D spend on projects such as field trials for its pipeline of products, recruitment of key personnel and capex and the two new Board members will help to direct these activities.
Martin Robinson, Pi's new Chairman, is CEO of Lloyd Street Private Equity and Chairman of Venturia plc, as well as Non-Executive Director of several private companies. He was formerly CEO of Henry Cooke Group plc. Gordon Harman, Finance Director, was previously Finance Director of Holiday Break plc and International Life Leisure Group, as well as a former Non-Executive Director of several companies including La Tasca restaurants, the restaurant chain.
Pi's CEO Peter Blezard said, '"We are delighted to welcome RisingStars Growth Fund as investors in Plant Impact. With the addition of Martin and Gordon to the Board, given their City and corporate experience, we look forward to maximising the potential of our portfolio of marketed and development stage plant health products."
Plant Impact plc (Pi) is focused on the development and distribution of novel and safe solutions for the enhancement of crop yields and plant health. Pi provides solutions to many of the challenges facing the $30bn pesticide market, such as the de-registration of current products and increased regulatory constraints on pesticide residues.
With the global population expected to expand to 10bn by 2025, and the area of sustainable agricultural land decreasing, there is an increased need for new agrichemicals, particularly for abiotic stress such as salinity and drought, to counteract pests, and to improve plant health and food quality. Pi has a number of marketed products, such as Pi NT for crop health and CaT for crop quality, and a broad pipeline and patent portfolio.
Its pipeline includes insecticides and Alethea, in development for abiotic stress. Pi's partners include the leading sustainable development not-for-profit organisation, CABI, and major agrichemical and food groups, some of which are trialling its products. For more information, please go to www.plantimpact.com or contact Peter Blezard on 07764 654416.
The Rising Stars Growth Fund provides finance to high growth technology companies, at the seed or start-up phase, and will also invest at the 'proof of concept' stage. Companies must demonstrate excellent commercial prospects, and are likely to receive the funding in stages against development milestones. In addition to finance, the Fund offers considerable support and guidance in assisting companies with their strategic, technical and market development.
For further information on the RisingStars Growth Fund, please contact the Technology Investment Team at Enterprise Ventures on 01772 270570 or via email at risingstars@enterprise-ventures.co.uk