Provexis plc

Climate Impact & Sustainability Data (2021, 2022, 2023, 2024)

The trade deal announced in December 2020 removed key tariffs.
The Group is in dialogue with potential UK manufacturers and exploring alternative sales and fulfillment options outside the UK for EU delivery.
The Group has registered for the Import One-Stop Shop (IOSS).
The Company and DSM will maximize commercial opportunities from increased consumer interest in Fruitflow due to Covid-19.
The Company is seeking to expand its Fruitflow+ Omega-3 dietary supplement business to reduce reliance on the DSM Alliance Agreement.
Provexis is actively pursuing the protection and enforcement of its intellectual property rights.

Short-term lockdowns and other COVID-19 disruptions in some of the growing markets for Fruitflow in the Asia Pacific region, leading to more erratic demand.
Brexit
Covid-19 pandemic
Commercial reliance on DSM for development, production, marketing, and commercialization of Fruitflow.
Limited product offering (only Fruitflow).

Two new agreements secured with DSM in June 2022 for Fruitflow, to replace the Alliance Agreement: (i) a Transfer of Business agreement and (ii) a Premix and Market-Ready Solutions supply agreement, both to take effect from 1 January 2023.
Registered for the Import One-Stop Shop (IOSS) for Fruitflow+ Omega-3 business to comply with VAT e-commerce obligations on distance sales to the EU.
Exploring alternative sales and fulfillment options outside the UK for the delivery of finished goods in the EU.
Maintaining principal stocks of Fruitflow in the EU to mitigate Brexit risks.
Fruitflow+ Omega-3 direct selling business operated largely as normal throughout the pandemic.
Expanding Fruitflow direct selling business from 1 January 2023 to reduce commercial reliance on DSM.
Expanding Fruitflow+ Omega-3 dietary supplement business.

Brexit: Potential tariffs on Fruitflow II SD shipments from UK to EU.
Covid-19: Erratic demand for Fruitflow in Asia Pacific due to lockdowns and disruptions.
Commercialisation: Past reliance on DSM for Fruitflow development, production, marketing, and commercialisation.
Limited product offering: Dependence on the success of Fruitflow.
Intellectual property protection: Uncertainty regarding pending patent applications, patent validity, and competitor actions.

Establishing a new Irish subsidiary to serve EU customers and mitigate Brexit risks.
Expanding Fruitflow direct selling business to reduce reliance on DSM.
Expanding Fruitflow+ Omega-3 dietary supplement business.
Securing two new agreements with DSM (Transfer of Business and Premix and Market-Ready Solutions supply agreements) to take effect from 1 January 2023.
Maintaining stocks of Fruitflow in the EU.
Developing a strong patent portfolio for Fruitflow.

Brexit (though mitigated by establishing Provexis Ireland Limited and using EU-based fulfillment centers for EU customers)
Past commercial reliance on DSM (mitigated by new agreements transferring customers to Provexis)
Limited product offering (only Fruitflow)
Funding requirements due to operating losses and increased inventory needs
Intellectual property protection

Establishment of Provexis Ireland Limited to facilitate tariff-free sales to EU customers.
New agreements with DSM to transfer customers and reduce reliance on the Alliance Agreement.
Expansion of Fruitflow+ Omega-3 business.
Tightly managed cost base and exploration of additional funding options (equity or loan finance).
Maintaining and strengthening patent and trademark coverage for Fruitflow.