SenesTech Announces Exclusive Distribution Agreement for Evolve™ Soft Bait in Australia and New Zealand

Rhea-AI Summary

SenesTech, Inc. (SNES) has entered into a Distribution Agreement with Evicom, an environmental management firm in Australia, to introduce their fertility control product, Evolve, into the Australian and New Zealand markets. This partnership aims to address the demand for environmentally sound and sustainable pest management solutions in the region, with a focus on controlling 'rat plagues' in Australia and eradicating invasive Norway rats in New Zealand by 2050.

Insights

Market Research Analyst

The distribution agreement between SenesTech and Evicom represents a strategic expansion for SenesTech into the Australasian market. The focus on environmentally sustainable pest control aligns with growing global trends towards eco-friendly solutions. The mention of 'rat plagues' and New Zealand's eradication efforts underscores the high demand potential for SenesTech's products in these regions.

From a market perspective, the partnership could increase revenue streams for SenesTech, considering the stipulated annual minimums, which suggest a level of guaranteed sales. The requirement for Evicom to handle regulatory approvals implies a reduction in bureaucratic burden for SenesTech, potentially accelerating market penetration. However, the success of this venture will hinge on Evicom's efficacy in navigating the local regulatory landscape and their market reach within Australia and New Zealand.

Financial Analyst

Investors should note the potential for long-term revenue growth stemming from this agreement. The partnership's structure, with annual minimums, provides a more predictable revenue forecast for SenesTech. However, the actual financial impact will depend on the scale of the minimums and the product's market adoption rate.

Given the specific mention of 'rat plagues' and a nationwide eradication initiative, one could infer that the market size could be substantial. This suggests that if EvolveTM is successfully integrated into pest management practices, there could be a significant upside potential for SenesTech's stock. Nonetheless, investors should seek further details on the financial terms of the agreement and monitor the progress of regulatory approvals and market adoption.

Environmental Sustainability Expert

The partnership between SenesTech and Evicom highlights a significant step towards integrating sustainable practices in pest management, an area traditionally dominated by chemical methods. Fertility control presents a less invasive and potentially more humane alternative to conventional rodenticides, which can have harmful ecological impacts.

SenesTech's EvolveTM could become an integral part of Australia and New Zealand's efforts to manage pest populations in an environmentally responsible manner. The success of this product could set a precedent for other regions battling similar ecological concerns, potentially opening up further markets for SenesTech. It is essential to monitor the environmental impact assessments and the effectiveness of EvolveTM in real-world scenarios to validate these sustainable claims.

PHOENIX, Feb. 8, 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 Evicom, an environmental management firm based in Australia with distribution throughout Australia, New Zealand and the surrounding region.

"Evicom is an environmental management company that is technology-led and focused on sustainable solutions for the management and control of pests. They already have experience with fertility control as applied to pigeons. With that experience and focus, we are confident they are the right partner to introduce Evolve^TM into their broad markets," said Joel Fruendt, SenesTech's President and CEO.

"Australia and New Zealand have great potential for our fertility control products, with excellent economies and a strong dedication to environmentally sound and sustainable methods and products. Australia is experiencing periodic 'rat plagues', and New Zealand has initiated a nationwide effort to eradicate invasive Norway rats by 2050 – so we know the demand is there," continued Mr. Fruendt.

The agreement with Evicom includes annual minimums, and that Evicom will take the lead on regulatory approvals.

"Evicom is thrilled to be appointed exclusive distributors of Evolve for Australia and New Zealand. Knowing SenesTech really cares about humanely managing animal populations through innovative fertility control aligns with our business strategy," said Simon de Bono, Managing Director of Evicom.  "It is a fantastic opportunity to partner with SenesTech to add Evolve to our product range and offer customers the first and only soft bait for reducing fertility in rats with no risk to human health or the environment."

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/ 

About Evicom
Evicom is focused on providing technology led and focused environmental consulting and on-ground environmental and feral management to all types of clients including aviation companies, local and state government, mining and resource sectors, construction, private companies, property developers, private landowners, and community groups.

The company operates across Australia and New Zealand. With 20+ years combined experience in environmental management and wildlife control we pride ourselves on designing custom-built, flexible, scalable, and cost-effective solutions that exceed customers' expectations. 

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 confidence that Evicom is the right partner to introduce Evolve into their broad markets; and our belief that Australia and New Zealand have great potential for our fertility control products, with excellent economies and a strong dedication to environmentally sound and sustainable methods and products. 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 ticker symbol for SenesTech, Inc.?

The ticker symbol for SenesTech, Inc. is SNES.

What is the Distribution Agreement about?

The Distribution Agreement is between SenesTech, Inc. and Evicom, an environmental management firm, to introduce SenesTech's fertility control product, Evolve, into the Australian and New Zealand markets.

What are the main goals of the partnership?

The partnership aims to address the demand for environmentally sound and sustainable pest management solutions in Australia and New Zealand, specifically focusing on controlling 'rat plagues' in Australia and eradicating invasive Norway rats in New Zealand by 2050.

Who is the President and CEO of SenesTech, Inc.?

Joel Fruendt is the President and CEO of SenesTech, Inc.

What are the target markets for the Distribution Agreement?

The target markets for the Distribution Agreement are Australia and New Zealand.

What is the product being introduced into the markets?

The product being introduced is Evolve, SenesTech's fertility control product.

What are the environmental challenges in Australia and New Zealand?

Australia is experiencing periodic 'rat plagues', and New Zealand has initiated a nationwide effort to eradicate invasive Norway rats by 2050.