Veratin capitalising on home garden and agriculture markets with release of Verigrow spray

Veratin (NSX: VTN) has announced the release of its new Verigrow foliar spray as it grows its position in the home garden and agricultural markets.

The Perth-based company specialises in developing sustainable high-value products from low-grade wool.

Verigrow foliar spray has been created as a ready-to-use product for indoor plants. Veratin describes the foliar formulation as “particularly convenient” for indoor plants due to the absence of a foul smell.

Veratin founder and executive chairman Dr Ramiz Boulos said the introduction of the company’s second product will help attract a wider market.

“Our target markets for this product are busy customers without a lot of time on their hands,” he said.

“By releasing this product, we aim to expand our customer base allowing the benefits of Verigrow to reach a wider audience.”

Verigrow requires no mixing and can be used directly off-the-shelf.

Upcycling wool waste

With over three times as many sheep as people residing in Australia, accounting for roughly 25% of the wool market worldwide, Veratin is continuing to look for ways to capitalise on wool that isn’t suitable for the textile industry, or, in other words, low-grade or waste material.

Through partnerships with local farms to acquire low-grade wool, Veratin uses green technology to transform it into “sustainable high value products”.

The company has developed intellectual property, which it says is “simple, efficient and cost-effective” and rapidly turns solid wool into liquid keratin.

Veratin is also using this technology to generate other products including liquid keratin, keratin-based gels, drug carriers, amino acids and peptides and biodegradable polymers.

Existing products

On top of its Verigrow spray, Veratin has continued to improve its existing Verigrow all-purpose fertiliser and soil improver, which is also made from waste wool.

The versatile product is a rich source of amino acids and can be used on lawns, fruit trees, vegetables, flowers, natives, and herbs.

Veratin says its sustainable products are attractive in today’s market as consumers constantly look for new environmentally-friendly products.

It takes energy for plants to synthesise the amino acids required to create those cells using primarily nitrogen, phosphorus and potassium (NPK) from fertilisers.

Through amino acids being present in Verigrow, it takes away the need for high levels of NPK fertilisers.

Growth of Veratin

Veratin currently operates and distributes its products across Australia, with almost 50 stores and nurseries in Western Australia and over a handful in the eastern states.

With vast amounts of low-grade wool existing within the nation, the company looks to capitalise on this in innovative ways to create sustainable high value products.

With this comes environmental benefits, reducing the waste associated within the wool industry, which is appealing to consumers, as the demand for greener products continues to surge.

Mr Boulos says he wants to continue to expand into other industries and sectors with its upcycling technology.

“Our plant health solutions are but one arm of the company,” he said.

“Veratin is diversifying into other markets via the research and development of nutraceuticals and cosmetic products – markets with a combined value of $500 billion.”

“This will enable us to be a more resilient company capable of withstanding headwinds.”

“Operating in a space that has very few competitors, we are the leaders in upcycling waste wool. We have a huge market and we’re tapping into various unrelated industries worth billions and billions of dollars.”