SenesTech Announces Exclusive Distribution Agreement and Initial Order for Evolve™ Soft Bait in Singapore

Rhea-AI Summary

SenesTech, Inc. (SNES) has announced a Distribution Agreement with Agro Technic PTE Ltd, a pest control product manufacturer and distributor in Singapore. The agreement includes a substantial initial stocking order and annual minimums. SenesTech aims to expand its presence in the region with a focus on fertility control to manage animal pest populations.

Insights

Market Research Analyst

The strategic alliance between SenesTech and Agro Technic marks a significant step in SenesTech's expansion into the Asian market. This partnership leverages Agro Technic's established distribution network and local market expertise. It's crucial to assess the potential market size and growth opportunities in the region. Singapore, known for its stringent environmental standards, could serve as a benchmark for neighboring markets, potentially increasing the demand for SenesTech's environmentally friendly pest control solutions. The agreement's mention of annual minimums suggests a commitment to sustained sales volume, which may be seen positively by investors.

Financial Analyst

The distribution agreement includes a substantial initial stocking order, which is likely to generate a significant upfront revenue boost for SenesTech. This influx could positively impact the company's short-term financials. However, the long-term success of the partnership will depend on market adoption and the efficacy of the product range in the new region. Investors should monitor the company's quarterly earnings and operational updates for signs of sustained revenue growth and market penetration. Additionally, considering the operational costs associated with expansion and potential currency exchange risks is essential for a comprehensive financial analysis.

Environmental Compliance Expert

SenesTech's focus on fertility control for pest management aligns with global trends towards more humane and environmentally sustainable practices. This is particularly relevant in Singapore, which prioritizes eco-friendly solutions. The collaboration with Agro Technic could set a precedent for regulatory approval and adoption in other markets with similar environmental goals. The success of this partnership could also influence environmental policies and regulations surrounding pest control in the region, potentially creating a more favorable market for SenesTech's products. Stakeholders should pay attention to any regulatory changes or endorsements that could arise from this agreement.

Further Expansion in the Region Is Contemplated in the Agreement

PHOENIX, Feb. 5, 2024 /PRNewswire/ -- SenesTech, Inc. (Nasdaq: SNES; "SenesTech" or the "Company"), the leader in fertility control to manage animal pest populations, today announces entry into a Distribution Agreement with Agro Technic PTE Ltd, a pest control product manufacturer and distributor headquartered in Singapore.

"Agro Technic is a leading manufacturer and supplier for equipment and chemicals in Singapore, with a strong presence in public health vector control, professional pest control and plant protection. With their focus on putting forth customized solutions to meet customers' needs in Singapore and throughout the region, they are an excellent partner for SenesTech as we address that market," said Joel Fruendt, SenesTech's President and CEO.

The agreement with Agro Technic includes both a substantial initial stocking order and annual minimums.

Heng Yiwei, Managing Director of Agro Technic, stated, "Singapore is a city in a garden, the modern metropolis of the region. Agro Technic has been at the forefront of bringing in innovative solutions for the public health sector since the 1970s. We continue to do so year on year, bringing to market solutions that are not only environmentally friendly but most importantly effective! The product range that Senestech offers, is a perfect fit to our business model, long term strategy, and market positioning and runs in tandem with the requirements of our garden city. Together with Senestech, we look forward to making Singapore our flagship from where we will spearhead the adoption of a cleaner, greener, more humane form of rodent management to the rest of the region. Let's EVOLVE!"

About SenesTech
We are committed to improving the health of the world by humanely managing animal pest populations through fertility control. We are experts in fertility control to manage animal pest populations. We invented ContraPest, the only U.S. EPA-registered contraceptive for male and female rats, and Evolve, an EPA-designated minimum-risk contraceptive currently offered for rats. ContraPest and Evolve fit seamlessly into all integrated pest management programs, significantly improving the overall goal of effective pest management. We strive for clean cities, efficient businesses and happy households – with a product designed to be humane, effective and sustainable.

For more information visit https://senestech.com/ and https://contrapeststore.com. 

About Agro Technic
With a presence in public health vector control, professional pest control to even plant protection, with our richness in knowledge and experience, we are able to put forth customized solutions that have proven to be highly effective in meeting our customers' needs.

Through the years, AGRO TECHNIC has evolved to become a synonym for high quality products, top-notch innovation and unrivaled customer service in the business. We view the development of best solutions for your everyday public healthcare problems as an exciting commitment, a driving force that spears us towards betterment.

Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements include, among others, our belief that Agro Technic is an excellent partner for us; Argo Technic's plan, together with us, to make Singapore its flagship from where Argo Technic will spearhead the adoption of a cleaner, greener, more humane form of rodent management to the rest of the region; and our expectation that Argo Technic intends to move quickly within Singapore and throughout their regional network of relationships. Forward-looking statements may describe future expectations, plans, results or strategies and are often, but not always, made through the use of words such as "believe," "may," "future," "plan," "will," "should," "expect," "anticipate," "eventually," "project," "estimate," "continuing," "intend" and similar words or phrases. You are cautioned that such statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such factors include, among others, the impacts and implications of the COVID-19 pandemic, the successful commercialization of our products, market acceptance of our products, regulatory approval and regulation of our products and other factors and risks identified from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2022. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. Except as required by law, we do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.

CONTACT: 
Investors:
Robert Blum, Joe Dorame, Joe Diaz, Lytham Partners, LLC,
602-889-9700, senestech@lythampartners.com

Company:
Tom Chesterman, Chief Financial Officer, SenesTech, Inc.,
928-779-4143 x825

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SOURCE SenesTech, Inc.

FAQ

What is the recent announcement from SenesTech, Inc. (SNES)?

SenesTech has announced a Distribution Agreement with Agro Technic PTE Ltd, a pest control product manufacturer and distributor in Singapore.

Who is the partner company in the Distribution Agreement with SenesTech, Inc. (SNES)?

The partner company is Agro Technic PTE Ltd, a pest control product manufacturer and distributor in Singapore.

What is the ticker symbol for SenesTech, Inc.?

The ticker symbol for SenesTech, Inc. is SNES.

What is the focus of the Distribution Agreement between SenesTech, Inc. (SNES) and Agro Technic PTE Ltd?

The focus is on fertility control to manage animal pest populations in the region.

What are the terms included in the Distribution Agreement between SenesTech, Inc. (SNES) and Agro Technic PTE Ltd?

The agreement includes a substantial initial stocking order and annual minimums.