Significant Order for Environmentally Friendly Agrochemical Material Placed to Fulfill Initial Demand;
Subsidiary will House Announced Asset Acquisition from Global Agrochemicals Innovator
Pressure BioSciences, Inc. (OTCQB:PBIO) ("PBI" or the "Company"), a leader in the development and sale of broadly enabling, pressure-based instruments, consumables, and platform technology solutions to the worldwide biotechnology, biotherapeutics, nutraceuticals, cosmetics, agriculture, and food & beverage industries, today announced it has established a wholly-owned agrochemicals subsidiary named PBI Agrochem, Inc.
The Company further announced that it has purchased over a half-million dollars of specialized, proprietary material to be used to fulfill initial demand for its eco-friendly and effective agrochemical pest control and growth stimulant products. Finally, the Company remains focused on its ongoing efforts and is optimistic that it will complete the previously announced asset acquisition of a global developer and supplier of environmentally responsible and organically natural agrochemicals in the coming weeks, subject to certain conditions, including the completion of all due diligence and acquisition financing.
Global population growth is driving a significant increase in food production demand, which in turn is driving an increased need for the use of pesticides and fertilizers. Whether from traditional production-boosting synthetics or the new generation of eco-friendly agrochemicals, all pesticides and fertilizers face common challenges in getting oily "active ingredients" (the material that is going to exert desired effects on the plant or the pest) to become effectively absorbed, which is required for optimal bioavailability (or efficacy) within the targeted plant species. Pesticides, used to control insects that damage crops and severely limit production, are projected to grow in worldwide sales from $84.5 billion in 2019 to $131 billion by 2023. Fertilizers, used to replenish soil with essential nutrients required for better crop growth and production, are expected to achieve global sales of approximately $232 billion by 2025.
PBI's Ultra Shear Technology™ ("UST™") nanoemulsification platform was specifically designed to make oils effectively soluble in water. Consequently, UST is expected to enable safer and more environmentally responsible and effective agrochemical dosing while reducing the amount and consequently the cost burden of expensive active ingredients required in agrochemical product formulations.
Mr. Richard T. Schumacher, President and CEO of PBI, commented: "Our breakthrough UST platform for processing high value oil-based active ingredients into superior quality nanoemulsions is expected to significantly improve absorption and bioavailability of active oily ingredients, with safer, better controlled, and more economical dosing delivery to the targeted plants. We believe our eco-friendly agrochemical products - some to be enhanced by UST processing - will offer revolutionary changes in product capabilities and innovation to agriculture customers worldwide."
Mr. John B. Hollister, Director of Sales and Marketing at PBI, said: "We have developed a very aggressive yet realistic plan to expand our business into the eco-friendly agrochemical space, which is currently over-flowing with growth opportunities. We believe few areas are hotter than eco-friendly agrochemicals, especially those that have been designed to minimize the long-term global environmental impact of persistent or glacially-slow degrading traditional agrochemicals."
Mr. Hollister added: "We look forward with anticipation to the close of the asset acquisition. We believe the line of high quality, eco-friendly agrochemical products being acquired, when combined with PBI's technical capabilities and innovative technology platforms, will result in strong product sales with significant revenue from the new agrochemical business sector for PBIO, beginning as soon as this current third quarter of 2021."
PBI's Board Chairman, Mr. Jeffrey N. Peterson provided a broader context: "In addition to our goal of finishing FY2021 with record strong revenue and a significant decrease in operating loss, we are also intently focused on two additional objectives: (i) eliminating from our balance sheet the expensive debt that PBI has necessarily utilized over the past few years to manage through periods when more reasonable equity financing was unavailable, and (ii) up-listing to either NASDAQ or the NYSE at the earliest appropriate opportunity. We are making excellent progress on both fronts and look forward to updating PBI's shareholders regularly on these two very important goals."
About Pressure BioSciences, Inc.
Pressure BioSciences, Inc. (OTCQB: PBIO) is a leader in the development and sale of innovative, broadly enabling, pressure-based solutions for the worldwide life sciences and other industries. Our products are based on the unique properties of both constant (i.e., static) and alternating (i.e., pressure cycling technology, or PCT) hydrostatic pressure. PCT is a patented enabling technology platform that uses alternating cycles of hydrostatic pressure between ambient and ultra-high levels to control bio-molecular interactions safely and reproducibly (e.g., cell lysis, biomolecule extraction). Our primary focus is in the development of PCT-based products for biomarker and target discovery, drug design and development, biotherapeutics characterization and quality control, soil & plant biology, forensics, and counter-bioterror applications. Additionally, major new market opportunities have emerged in the use of our pressure-based technologies in the following areas: (1) the use of our recently acquired, patented technology from BaroFold, Inc. (the "BaroFold" technology) to allow entry into the bio-pharma contract services sector, and (2) the use of our recently-patented, scalable, high-efficiency, pressure-based Ultra Shear Technology ("UST") platform to (i) create stable nanoemulsions of otherwise immiscible fluids (e.g.,oils and water) and to (ii) prepare higher quality, homogenized, extended shelf-life or room temperature stable low-acid liquid foods that cannot be effectively preserved using existing non-thermal technologies.
Forward Looking Statements
This press release contains forward-looking statements. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, implied, or inferred by these forward-looking statements. In some cases, youcan identify forward-looking statements by terminology such as "may," "will," "should,""could,""would," "expects," "plans," "intends,""anticipates," "believes," estimates,""predicts," "projects,""potential" or "continue" or the negative of such terms and other comparable terminology. These statements are only predictions based on our current expectations and projections about future events. You should not placeundue reliance on these statements. In evaluating these statements, you should specifically consider various factors. Actual events or results may differ materially. These and other factors may cause our actual results to differ materially fromany forward-looking statement. These risks, uncertainties, and other factors include, but are not limited to, the risks and uncertainties discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2019, and other reports filed by the Company from time to time with the SEC. The Company undertakes no obligation to update any of the information included in this release, except as otherwise required by law.
For more information about PBI and this press release, please click on the following website link: http://www.pressurebiosciences.com.
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