Investing.com -- SenesTech Inc (NASDAQ:SNES) stock rose 7% Monday after the company announced its Evolve fertility control solution for rodents has been approved for use in New Zealand by the Ministry for Primary Industries.
The Phoenix-based company, which specializes in fertility control solutions for managing rodent populations, has shipped an initial stocking order to its exclusive distribution partner Evicom. The approval positions SenesTech to support New Zealand’s Predator Free 2050 initiative, an ambitious conservation program aimed at eradicating invasive predators like rats to protect native species.
"We are delivering on our strategy to become the global leader in sustainable fertility control solutions for managing rat populations, while tapping into significant, high-growth markets that are actively seeking sustainable and effective alternatives to traditional rodenticides," said Joel Fruendt, President and CEO of SenesTech.
The company’s Evolve product offers a non-lethal alternative to traditional rodenticides, reducing rat populations by restricting reproduction rather than through poisoning. This approach aligns with New Zealand’s conservation goals, which focus on preserving biodiversity and protecting delicate ecosystems.
New Zealand expects to spend over $4.5 billion on its Predator Free 2050 program, creating a significant market opportunity for SenesTech’s fertility control technology. The company indicated it expects to maintain a regular shipping schedule with Evicom following the initial container shipment.
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