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Plandai Biotechnology, Inc. Announces Completion of $13 Million Production Facility
Plandai Biotechnology, Inc. Announces Completion of $13 Million Production Facility.
About this update from Plandai Biotechnology, Inc.
[{"type":"text","content":"\nPlandai Biotechnology, Inc. Announces Completion of $13 Million Production Facility\n\nPlandai Biotechnology, Inc. Announces Completion of $13 Million Production Facility\n\n\nFirst Samples of Phytofare(TM) Catechin Complex Being Delivered\n\nLOGAN, UT--(Marketwired - December 22, 2014) - Plandaí Biotechnology, Inc. (OTCQB: PLPL) (\"Plandaí\" or \"the Company\"), a developer of highly bioavailable plant extracts for industries including health, wellness, nutraceutical, and pharmaceutical, today announced completion of the Company's production facility in South Africa. Further, the Company announced that samples from the first batch of Phytofare® Catechin Complex, which is derived from green tea, are being delivered to testing facilities for final profiling which will take place once vendors return from holiday. Additionally, samples are being sent to North West University to complete their clinical trials and to potential customers for evaluation. Over the coming days the factory will increase its manufacturing production with the expectation that the Company will then be ready to accept and fill customer orders.Since beginning the Senteeko project in 2012, Plandaí has expended over $4.5 million in rehabilitating the tea estate and another $8.5 million in building the production facility, for a total investment of over $13 million.Roger Duffield, Chief Executive Officer at Plandaí Biotechnology, commented, \"Bringing a factory of this nature online has been a monumental task. We're proud that we've been able to build the factory onsite at the Senteeko plantation and that the clinical data has thus far supported our position that we can produce highly bioavailable, all-natural nutraceuticals.\"The Senteeko factory encompasses approximately 75,000 sq. ft., is fully automated, and includes management offices and research facilities. At full capacity, the facility can process twenty tons of live plant material every day, averaging approximately eight tons of finished Phytofare® Catechin extract every month during the 8-month tea growing cycle.Mr. Duffield added, \"We currently have enough green tea ready for harvest to allow us to produce about six tons of Phytofare® per month based on estimated yields. We plan on bringing an additional 400 acres online this summer so that production can increase...