Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Botryzen step closer to securing future

December 17. 2009
For Immediate Release                                                                     
Botryzen step closer to securing international future

Biotechnology company Botry-Zen is a step closer to cementing its international growth aspirations after an existing substantial shareholder of the company has agreed to subscribe a minimum of $500,000 to a new Convertible Notes issue.
The offer is conditional on shareholders subscribing a minimum of $750,000 to the Share Purchase plan currently on offer to them. This closes on December 22. It is also conditional on Botry-Zen raising a total of $2 million by way of the Share Purchase Plan and the Convertible Note issue.
Accordingly the company is offering the Convertible Notes via a private placement through John Paine, of Global Pacific Corporation. This issue is only available to Eligible Persons or habitual investors in terms of the Securities Act.
Botry-Zen general manager Stephen Lorimer said that the company has made strong progress in 2009, especially in the United States where it has gained state registration in California and is seeking similar registration in Oregon and Washington.
“Botry-Zen is also well recognised and highly regarded in Europe where several significant parties have expressed serious interest in partnering us. Detailed discussions are under way with several parties.
“It is the potential of these markets, plus our growth here in New Zealand, that is propelling the capital raising programme. We also need to fund our US market development and field trials as well as our European product evaluation and registration,” he said.
Dr Lorimer said that the world, especially Europe, is becoming very “green focused” which was ideal for companies like Botry-Zen who produce organic, residue-free and sustainable products.
“The wine glut also means that producers, even in New Zealand, are looking for a point of difference.  Several top-end producers, especially premium wine exporters are using Botry-Zen for this very reason.
“To keep up with expected demand, we have to keep looking at the horizon and the exponential growth that could occur with overseas success. It’s tomorrow’s demand that we must be capable of handling,” he said.
Initially Botry-Zen needs to purchase four new fermenters at its Dunedin plant but ultimately the underlying desire is to move away from supplying international markets from its New Zealand factory and to move to an international model where returns are based on royalties and licence fees.
“The New Zealand manufacturing base will be used to seed offshore markets but long term other manufacturing options will be developed to serve these export markets.”
Dr Lorimer said that there is huge scope outside the wine industry in kiwifruit, strawberries black currants and boysenberries. “A recent trial in Holland has confirmed the value of providing an alternative to chemicals in controlling botrytis in berry fruit while back here in New Zealand trials in the high-value seed industry, especially carrots, yielded good results,” he said.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Frog Recruitment: Kiwi Workers Reluctant To Make Business Trips Across The Ditch Despite Trans-Tasman Bubble Opening

When the trans-Tasman travel bubble opens today, many Kiwi companies won't be rushing to buy an air ticket, reluctant to cross the ditch to do business. The latest survey conducted by leading recruitment agency, Frog Recruitment of nearly 1,000 New Zealand ... More>>

Tourism: Employers Welcome Back Working Holidaymakers

Tourism businesses gearing up for the return of Australian visitors from next week will be relieved to learn that they will also have access to an offshore pool of much-needed job candidates, Tourism Industry Aotearoa says. Tourism employers around ... More>>

Commerce Commission: Latest Broadband Report Confirms Improved Performance Of Premium Fibre Plans

The latest report from the Commerce Commission’s Measuring Broadband New Zealand programme shows that the performance of Fibre Max plans has improved substantially. This follows a collaboration between the Commission, its independent testing partner, ... More>>

Air New Zealand: Capital Raise Deferred

Air New Zealand has decided to defer its planned capital raise to later in 2021 allowing more time to assess the impacts of recent developments on the airline’s path to recovery. 'We’ve seen some clearing of COVID-19 clouds recently, with ... More>>

Stats NZ: New Report Shows Impact Of Demands On Land In New Zealand

A new environmental report released today by the Ministry for the Environment and Stats NZ, presents new data on New Zealand’s land cover, soil quality, and land fragmentation. The land cover data in the report, Our land 2021 , provides the most ... More>>


Stats NZ: March Card Spending Rebounds Despite COVID

There was a lift in retail card spending in March following a fall in the lockdown-disrupted February month, Stats NZ said today. Seasonally adjusted retail card spending rose by $53 million (0.9 percent), compared with February 2021. Visit our website to read ... More>>

PwC: Outcome Of Review Into Air New Zealand Gas Turbines Business

Air New Zealand has received the report into its Gas Turbines business from independent external advisers PwC. Air New Zealand Chairman Dame Therese Walsh says the report identified a range of effective controls in the Gas Turbines revenue contracting ... More>>