UK - EV further invests in Plant Impact
Enterprise Ventures (EV), via its RisingStars Growth Fund, has made a follow-on investment into publicly listed agriculture company Plant Impact of £1.5m. The deal forms part of a placing of 4,850,000 new ordinary shares.
Preston-based Plant Impact provides enhanced innovative crop nutrition and crop protection products. The company specialises in plant stress relief, particularly with solving the problems of abiotic stress including temperature stress, salinity stress, drought stress, and light stress. Alethea is the latest of Plant Impact's anti-stress technologies and has been found to be highly effective in trials across a broad spectrum of stress conditions.
The new funding will be used to finance further development and testing of the company's range of nutrient products, as well as to fund trials to support claims about the environmental impact of the business' products. The investment will also see the recruitment of additional sales staff to expand the technical sales team.
EV first supported the company in 2004 with an initial proof of concept investment. EV also contributed further funding both pre- and post-Plant Impact's 2006 AIM listing.
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