Ag/Bio Tech firm buys India based producer of Cold-Pressed Neem Oil
Vancouver, BC (Sept 1, 2014) – Ag/Bio Tech company Terramera PlantScience announced today the acquisition of Plasma Power, an India-based manufacturer of Cold Pressed Neem Oil and other ecologically friendly products for use in agriculture, human health and cosmetic applications. Plasma Power, headquartered in Chennai India, produces a range of products for use in agricultural crop protection, including the only US EPA registered Cold Pressed Neem Oil for use as a pesticide. Plasma Power’s Cold Pressed Neem Oil is the active ingredient in Terramera’s leading biopesticides which include Proof® plant-based insecticides, and CIRKIL® professional products.
Plasma Power was founded in 1987 and has been focusing on the development of Neem and other natural products since 1996. They have perfected the process of cold pressed Neem Oil extraction and hold its patent. Their products include certified organic Cold Pressed Neem Oil, Neem cake, Karanja oil and Karanja cake. Terramera will continue Plasma Power’s operation in India with the existing staff and facilities, serving the Plasma’s current global customer base and will invest to grow the business aggressively.
“The acquisition of Plasma gives Terramera PlantScience security with the only EPA registered source of Cold Pressed Neem Oil and guarantees supply of the key active ingredient in our current biopesticide products,” said Karn Manhas, CEO and founder of Terramera. “It also provides a profitable going concern with a global customer base, and an opportunity to expand use of neem products globally—both through Terramera and with Plasma’s customers—for biopesticides, health and cosmetic applications.”
“Terramera PlantScience has active field trials and a solid pipeline of products in development using Cold Pressed Neem Oil from Plasma Power,” said Manhas, “this acquisition will allow Terramera to accelerate development and regulatory approval processes through this vertical integration of our active ingredient source.”
This acquisition will allow Terramera PlantScience to accelerate development and production of neem, neem products, and better biopesticides. The company will strive to increase the supply of the highest standard of quality cold-pressed neem around the world for all uses.
About Terramera PlantScience: Terramera is the leader in developing revolutionary plant-based products that are a highly effective, minimal-toxicity means of pest management. The company’s flagship products include Proof® and CIRKIL®, EPA-registered biopesticides for control of bed bugs and other household pests. Terramera’s product pipeline includes biopesticides for agricultural use in a variety of crops and applications for bee health. Terramera was highlighted as a leader with potential to dominate the biopesticides market in a recent report by LUX research, an independent research and advisory firm which identified biopesticides as a “hot” industry, predicting growth into a multi billion-dollar market. Terramera is a Vancouver, Canada based company founded in 2009 with the mission to provide safe and innovative pest management products for every person and family. For more information about Terramera, visit our websites at www.terramera.com or www.plasmaneem.com.
Karn Manhas, CEO
Maxwell Samuel, Country Manager
Terramera Biosciences (India) Private Limited