Veratin eyes US and Japan markets as part of global expansion efforts

Veratin (NSX: VTN) has made further inroads towards fulfilling its global expansion plans after announcing its trademark application for its flagship Verigrow product had been granted in the United States.

This follows a patent being granted for Verigrow in Japan.

Veratin founder and executive chairman Dr Ramiz Boulos said the company’s ambition is to grow globally, while protecting its intellectual property.

He said given their magnitude, the US and Japanese markets offer great opportunity.

“The US and Japan are big markets and are major food producers,” he said.

“In 2020, the US was the largest exporter of food, accounting for 10% of total global exports while Japan had fertiliser inputs of JPY99 billion in 2015 .”

“Our strategy for these markets is to identify strategic and long-term partners that understand the need for sustainable farming practices, the importance of soil health and the innovative solution that Verigrow presents to address these issues,” he added.

Veratin has a number of new products and developments on the way and Dr Boulos believes the company’s biodegradable polymer will have a “significantly positive impact on the nursery industry…”

Patent status

On 8 July 2022, Veratin announced its patent, “Organic fertiliser and soil conditioner containing keratin” was granted in Japan, which covers the Verigrow product.

Dr Boulos said the opportunity to expand into Japan was exciting for the company.

“Japan is a major agricultural producing country, and the grant will support our future efforts to capitalise on that market,” he said.

The patent was previously granted in South Africa and now Veratin looks to secure patents for Verigrow in Australia, Brazil, Canada, China, Europe, Indonesia, New Zealand and the US.

Biodegradable polymer

Later in July, Veratin revealed it had filed an international patent cooperation treaty application, covering its biodegradable polymer, which the company is commercialising for the use in pot plants and other products.

Dr Boulos said the product has the potential to be a “real game-changer” within the biodegradable materials space.

“In the case of plant pots, customers have an option of either throwing the pots in the green bin or burying them, where they later biodegrade and turn into plant food,” he said.

“We see a huge opportunity in front of us. I believe consumer awareness around sustainability and sustainable products is a pull-incentive that help us capitalise on the opportunity.”

Veratin is focusing its research and development on producing a product the company is proud of and is sustainable yet functional.

The company aims to shift consumer mindsets that sustainable products are less functional through its scientific discoveries.

Cosmetic products development

Veratin also recently completed development of its shampoo and conditioner products, which look to unlock the true value of wool in cosmetics.

The company is now navigating potential manufacturing options for these products.

Dr Boulos said diversification has always been a priority for Veratin and it enables great possibilities moving forward.

“It presents us with an opportunity to grow and to become more resilient at the same time,” he said.