Periodic Reporting for period 1 - Bulhnova (LIQUID BIOFERTILIZER FORMULATED WITH PLANT GROWTH PROMOTING RHIZOBACTERIA)
Période du rapport: 2019-11-01 au 2020-02-29
The aim of the project was to ascertain the technical, commercial and financial viability of Bulhnova and to determine the next actions to ensure that it reaches adequate maturity for successful market entry and guaranteed industry competitiveness.
We determined the optimized formula to achieve a concentration of 108CFU/ML for stability and application across different crops and extreme temperatures. We also defined an improved quality assurance plan to maintain uniformity in the manufacture of Bulhnova as well as the specifications and requirements to optimally scale up the Bulhnova manufacturing process. We accomplished an evaluation of potential technical risk that might endanger the success of the Bulhnova project and developed a risk management strategy.
We conducted an in-depth market study to identify the size of the target market (global bio-fertilizer market); the market needs and the market segmentation (by geography, type and crops being cultivated) and have come up with our sales strategy and distribution network for Bulhnova. We refined our intended sales processes for Bulhnova through the help of the SME coaching services. We have conducted our freedom to operate analysis and can confirm that there are no restrictions to the commercialization of the Bulhnova.
We assessed our skills gap for the successful complementation and commercialization of Bulhnova and developed a hiring plan. We generated a comprehensive budget based on the anticipated work laid out in the EIC project work plan. We also developed 5-year financial projections for the Bulhnova post-project completion. Bulhnova is expected to have significant positive impact on our financial performance of Probelte, increasing annual revenue by >45%.
We conducted an in-depth market study to identify the size of the target market (global bio-fertilizer market); the market needs and the market segmentation (by geography, type and crops being cultivated) and have come up with our sales strategy and distribution network for Bulhnova. We refined our intended sales processes for Bulhnova through the help of the SME coaching services. We have conducted our freedom to operate analysis and can confirm that there are no restrictions to the commercialization of the Bulhnova.
We assessed our skills gap for the successful complementation and commercialization of Bulhnova and developed a hiring plan. We generated a comprehensive budget based on the anticipated work laid out in the EIC project work plan. We also developed 5-year financial projections for the Bulhnova post-project completion. Bulhnova is expected to have significant positive impact on our financial performance of Probelte, increasing annual revenue by >45%.
Bulhnova is the only bio-fertilizer that has been developed to deliver multiple nutritional elements to the plant and soil. While most technologies separate Biofertilizers According to nutrient supply (Nitrogen Biofertilizers and Phosphorus/Potassium Biofertilizers), Bulhnova provides an integrated Biofertilizer that combines Nitrogen, Phosphorus and Potassium supply under a single product. Bulhnova also achieves 40% more crop produce compared to conventional chemical and Biofertilizers and achieves low dosage levels for fertilizer application. Our bacterial strains remain viable and stable for longer periods while maintaining effectivenesss.