April 25, 2019 —Newport Beach, CA—ONIT Sciences has executed a letter of intent with an organic products sales and distribution company to introduce and sell ONIT Sciences’ products to agriculture customers through its network of over 500 sales representatives. This agreement will also allow our sales partner to offer ONIT products to major distributors and applicators, including the second largest distributor of fertilizers and specialty products in the U.S., with which our partner has an exclusive for organic inputs.
“This marks the entrance of ONIT Sciences into organic foods markets, which topped $49.4 billion in 2017,” said Gerry Martin, CEO of ONIT Sciences. “They have an enormous footprint in this fast-growing industry, selling to the top strawberry grower in the world and the second largest lettuce producer in the world, as well as to other fruit, nut and salad crops growers. We are tapping into the organic farming movement which continues to significantly outperform traditional food production.”
The U.S. organic food market value is expected to reach $70.4 billion by 2025 as a result of increasing demand from consumers, according to marketwatch.com. The organic crop farming industry in the United States has exhibited strong revenue gains over the past decade. The rising popularity of organic produce has pushed up demand, which also pushes prices much higher than traditionally grown produce. This translates into higher profitability for organic farmers than conventional producers.
This organization creates, licenses and distributes innovative, organic, specialty nutrient and disease and pest protection products. They currently represent over 20 organic, biodegradable and environmentally conscious products to agriculture operations throughout the United States, with plans to expand into Mexico, Ecuador and Europe, starting in late 2019. Their products are written into nutrition, fertilization and soil treatment protocols, or “programs,” for grapes, strawberries, almonds, walnuts, pistachios, lettuce/spinach, tomatoes, potatoes, berries and hops, with major cereal crop testing underway. This partner has fully tested ONIT Grow™ and is extremely pleased by its performance. It is expected that ONIT Grow™ will be written into existing and future programs, increasing the efficacy of the other products included in each protocol—providing a significant source of recurrent revenue for ONIT Sciences.
About ONIT Sciences
ONIT Sciences is a technology company in the agricultural industry (“AgTech”) that is focused on the dramatic growth of the cannabis (and hemp) industry. ONIT’s name is an acronym that describes the company’s unique approach to the industry: Organic Natural Input Technology. It is the company’s mission to increase plant health and crop yield through organic, non-GMO sciences, while maximizing value to shareholders, partners and employees. Established in 2018, the company is led by industry veterans and maintains offices in Newport Beach, California.