For Immediate Release
Provivi™ Announces Multi-Year Supply Agreement
Santa Monica, California, November 14, 2018 – Provivi™, an emerging company using pheromones to protect crops from major damaging insects, today announced a multi-year supply agreement with a leading agricultural company. The contract marks Provivi’s largest commercial agreement to date.
“We are delighted to announce this landmark achievement for Provivi™,” said CEO and co-founder, Dr. Pedro Coelho. “This agreement is clear validation of our technology and was made possible by the shared commitment of our employees, board members, and investors.”
Significant sales ramp-up is expected from 2020 onwards.
Provivi’s novel technology enables a step change in the cost of manufacturing pheromones. Pheromones are substances that serve as highly selective attractants for insects, allowing the control of deleterious pests while preserving beneficial insects. These compounds elicit non-lethal, species-specific insect control through disrupting mating cycles, resulting in lower insect pest populations and significantly reducing crop damage and losses. Mating disruption can now be considered a foundational element of integrated pest management programs, reducing farmer dependence on chemicals and lowering the risk of pest resistance.
“This is a remarkable moment,” said CTO and co-founder, Dr. Peter Meinhold. “Scaling our patented, low-cost production method is a great collaborative and technical achievement. Supplying a range of different pheromones further validates the breadth of our approach.”
Provivi’s technology is being directed to the production of a portfolio of pheromones with the objective to provide an effective, sustainable, and value-adding alternative to synthetic chemical insect control and genetically modified crops. Dr. Coelho added “In the next five years, we anticipate continued expansion of the existing insect pheromone market. We are pleased to participate in and facilitate this growth.”
We are a groundbreaking science-based company creating scalable, safer insect control technology that will improve the quality of life for all humans and our world. For more information, see www.provivi.com.
Media Contact: Philip Rollinson