With more than 500 soil remediation firms (potential customers) in countries like Germany, Netherlands, Belgium, Italy, and France that report the highest amount of soil remediation expenditure, this market would represent for INOQ a business with an annual revenue value of at least €5 Million during the first 3 to 5 years. This increase of annual turnover would lead to a correlated increase of production. To date the production has a capacity to produce up to 0,5 Mio Liter of mycorrhiza fungi, that can serve as biostimulants for up to 50 Mio plants or 20 Mio squared meters.
Based on our market analysis and the advisory from industry experts, the potential is extremely high. Reports from the EU indicate that more than 175.000 sites have been remediated during the period of 2000 to 2010. Moreover, the need for remediation continues growing thanks to the pressure from local governments and private actors. To date exist more than 490,000 contaminated sites and more than 4.5 million potentially contaminated in Europe with an estimated average remediation cost of €180.000 per site. In countries like Germany, Belgium, The Netherlands, Italy, Denmark, Spain and UK by 2013 were reported more than 1000 companies dedicated to ex situ and in situ soil remediation activities, with a total turnover estimated in more than €1billion.
The company has the necessary a reliable production process and quality system to ensure performance and quality of the product. The current projects and trials developed with customers (DE and CH) and with the research team in Leiden (NL), INOQ will gain more experience about the use of the technology and the know-how about the use of mycorrhiza fungi on commercial applications and has developed marketability of such technology. Another synergy of Envisage is that with the database generated, INOQ was able to prepare a project proposal for SME Instrument Phase 1. The project acronym is MYRES (827344). The main focus is to continue with the actions generated during the project ENVISAGE. The objective is to develop business plan for INOQ to grow in different markets including agricultural and urban soil restoration and land reclamation. The status is Accepted, and the Start date is 01.09.2018.