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- Environmental tech company Calix (CXL) receives approval for its crop protection product, BOOSTER-Mag, in Australia.
- The company submitted an application to the Australian Pesticides and Veterinary Medicines Authority (APVMA) in January 2020
- This approval means that the product can now be supplied or sold to farmers
- BOOSTER-Mag is reportedly the first registration of a magnesium hydroxide insecticide in the world
- On the market, Calix is up 4 per cent and trading at $6.50 per share
Calix (CXL) has received approval for its environmentally-friendly crop protection product, BOOSTER-Mag, in Australia.
The environmental tech company submitted an application to the Australian Pesticides and Veterinary Medicines Authority (APVMA) in January 2020 looking for its product to be a non-lethal insecticide for the suppression of two-spotted mite in tomatoes and cucurbits.
APVMA has now completed the review and has approved the application. This means BOOSTER-Mag can now be supplied or sold to farmers.
Large-scale field trials have shown that the regular foliar application of the product can allow for a material reduction in the use of conventional pesticides without compromising crop yield or quality.
BOOSTER-Mag is reportedly the first registration of a magnesium hydroxide insecticide in the world.
“This initial registration validates that the unique form of Calix materials can be safely applied to suppress a highly destructive crop pest,” the company told the market.
“With suppression efficacy also apparent on additional crop pests and a variety of crop diseases, the initial registration provides a solid basis to expand the addressable market.”
The suppression of two spotted mite in tomato and cucurbit presents a market opportunity of around 16,000 hectares in Australia.
Additionally, BOOSTER-Mag is also part of several larger field trials overseas where other types of crops and applications are being evaluated.
On the market, Calix was up 4 per cent and is trading at $6.50 per share at 12:30 am AEDT.
