Supaplants to flourish thanks to White Rose venture capital

A range of innovative horticultural products will soon be available from Sheffield University's SupaPlants Ltd, thanks to a £250,000 investment from the White Rose Technology Seedcorn Fund (WRTSF).

SupaPlants is based on the research of Dr Bernie Jarvis and Professor David Lewis from the university's Department of Animal and Plant Sciences, who have developed a unique transparent gel in which cuttings of more than 30 house plant species can be easily propagated. These rooting systems are ready for the market and SupaPlants will focus on them in the short term, with a launch planned for later this year at the International Garden and Leisure Exhibition (GLEE) in Birmingham.

The gel also forms the basis of other products, which can sustain a range of foliage plants for several months without the need for watering, and preserve cut flowers during transport or display.

The investment is the Fund's tenth since its creation in 1999. It has to date invested nearly £2 million to assist the commercialisation of world class research from the universities of Leeds, Sheffield and York, and is receiving a steady flow of new exciting opportunities.

Joining Dr Jarvis and Professor Lewis on the SupaPlants management team are commercial development expert Gary Waters as Managing Director, and Professor Mike Fowler and Dr Nick Gostick of Sheffield University Enterprises Ltd (SUEL) who have extensive business development expertise. David Hobdey has also been appointed as a non-executive on behalf of the WRTSF.

WRTSF Investment Manager, Gerry White said:

"The horticultural market has considerable potential - SupaPlants' products fill an important gap in the market and have major advantages over current competitors. The management team is a mix of academic researchers and successful entrepreneurs, and we believe their experience will drive the company's growth as further new products are finalised."

Dr Bernie Jarvis said:

"We are delighted to be receiving support from the WRTSF and Sheffield University Enterprises, without which we would not be able to fully exploit the opportunities that SupaPlants presents. We are looking forward to introducing our products to the market."

For further information please contact: Gerry White , Aberdeen Murray Johnstone Private Equity, 3 The Embankment, Sovereign Street, Leeds LS1 4BJ. tel 0113 242 2644, email gerry.white@aberdeen-asset.com or see www.whiteroseseedcorn.com

Gary Waters, SupaPlants Ltd, tel 0114 222 0003, email gary.waters@supaplants.co.uk

Notes:

1. The WRTSF was formed in 1999 with £4.5 million from the Government sponsored University Challenge Fund competition (£2.5 million from the Government, £1 million from the Wellcome Trust and £1 million from the Gatsby Foundation). A further £1.5 million was invested by the universities themselves.

It considers investment opportunities of up to £250,000 that meet the following criteria:

• research with protectable intellectual property
• significant market opportunity
• committed management team

The WRTSF Board is made up of experienced businessmen and women who provide guidance and direction to the Fund. The Fund is advised on its investments by Aberdeen Murray Johnstone Private Equity, a division of Aberdeen Asset Managers Limited.

2. The International Garden and Leisure Exhibition (GLEE) takes place on 16/18 September 2001 at the National Exhibition Centre, Birmingham.