EXCLUSIVE: Pressure BioSciences Wins $1M Purchase Order For Agrochem Products

Pressure BioSciences Inc's PBIO agrochemicals subsidiary PBI Agrochem Inc has received initial purchase orders for over $1 million of eco-friendly agrochemical products for delivery in 2021.
Three weeks ago, Pressure BioSciences created the agrochemicals division in anticipation of the planned asset acquisition of a agrochemicals products business.
The Company anticipates that the delivery and booking for most of the orders will occur during Q3 2021.
The incremental revenue from Agrochem represents a potential doubling (or more) of quarterly revenues when added to existing core products and services, the firm added.
PBI's President and CEO Richard T. Schumacher said, "with additional orders expected in the coming weeks and months, we believe Q4 2021 could substantially exceed the results of Q3 2021. Our new agrochem sales are expected to accelerate PBI's rapidly improving growth trajectory and should contribute substantially towards our planned transition to profitability by the end of 2022."
Price Action: PBIO shares closed 20.3% higher at $2.90 on Wednesday.

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