Remote Monitored Systems PLC New Hydroponics Agreement (4466C)
June 21 2021 - 2:00AM
UK Regulatory
TIDMRMS
RNS Number : 4466C
Remote Monitored Systems PLC
21 June 2021
21 June 2021
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has
been incorporated into UK law by the European Union (Withdrawal)
Act 2018. Upon the publication of this announcement via Regulatory
Information Service ('RIS'), this inside is now considered to be in
the public domain.
Remote Monitored Systems plc
("RMS" or the "Group")
New Hydroponics Agreement
The Group is pleased to announce that it has signed an agreement
with PIC Consultants Ltd ("PIC") to supply a new range of
high-grade retail hydroponic nutrients for distribution into the UK
hydroponics market (the "Hydroponics Agreement"). The range
consists of eight specially formulated solutions, all of which
contain patented nano particles produced by the Group's subsidiary,
Pharm 2 Farm Ltd ("P2F"), and will be marketed throughout the UK
and Ireland under the brand nano.10(-9) .
The pressure on the agriculture industry to meet the growing
demand for grains and food leads to the search for high-yielding
farming techniques, such as precision farming and urban farming.
Hydroponics is considered a potential solution for the growing
concern about food security in the coming years. (Hydroponics
Market Size & Share, Growth, Trends, and Forecasts | COVID-19
Impact on Hydroponics Market | MarketsandMarkets)
The hydroponics method of growing plants in the absence of soil,
requires extremely detailed nutrient management practices to
overcome pH fluctuations, effective nutrient uptake and
environmental stability issues found with mineral fertilisers. The
Group's patented nano particles are of significant interest to the
hydroponic market as they have been demonstrated to be an improved
alternative to common mineral fertilisers, including
ethylenediaminetetraacetic acid (EDTA) chelates, which are known to
fall out of solution in the presence of UV light sterilisation.
They also deliver minerals at a higher concentration with increased
bioavailability compared to other mineral formats currently used
within this industry, resulting in stronger, healthier plant
growth, with higher yields, shorter cultivation times and improved
nutritional value.
P2F has worked with the founders of PIC over the last couple of
years, initially in developing a powder-based product and now this
new water-based range nano.10(-9) , which is more easily
incorporated in irrigation systems. PIC is a new company that has
been set up to sell the nano10(-9) range to Global Air Supply Ltd,
which is an established distributor to the UK retail hydroponics
market, whose customers include competition growers (giant
vegetables), more general vegetable growers and plant breeders.
Under the terms of the Hydroponics Agreement, PIC has agreed
over the next 12 months to purchase a minimum of 40,000 litres in
aggregate, of the eight solutions in the nano.10(-9) range, with an
expected revenue for the Group of around GBP80,000. However, this
is expected to grow significantly as the market becomes more aware
of the benefits of the nano particles in plant nutrient ranges.
Barry Faulkner, director of PIC, said; "We have been working
closely with Dr Gareth Cave and his team for several years,
constantly developing and improving this nutrient range to be the
best it can be. Nanoparticles are going to be revolutionary in
fertiliser delivery and we can't wait to bring this fantastic
product to the UK and European markets."
Antony Legge, Executive Chairman of RMS, said; "We are delighted
to have entered into this agreement with PIC which reflects the
excellent demand we perceive for Pharm 2 Farm's high-quality nano
particles in the hydroponics sector and also demonstrates the
breadth of applications where our nano particles can benefit the
end-user. We very much look forward to working with PIC to develop
the market opportunities for these high-quality nutrients."
- ENDS -
ENQUIRIES :
Remote Monitored Systems plc
Antony Legge (Executive Chairman) via IFC Advisory
SP Angel Corporate Finance LLP +44 20 3470 0470
Nominated Adviser and Joint Broker
Stuart Gledhill
Caroline Rowe
Peterhouse Capital Limited +44 20 7469 0930
Joint Broker
Lucy Williams
IFC Advisory Ltd +44 20 3934 6630
Graham Herring
Zach Cohen
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