Skin Elements makes first New Zealand ECO-Nurture delivery to Farmlands

First Farmlands Delivery Reaches New Zealand Customers

Skin Elements Limited (ASX:SKN) has made its first commercial-scale ECO-Nurture delivery into New Zealand, supplying NZ$150,000 of the plant bio-stimulant to Farmlands during the September quarter. The delivery generated A$117,000 in receipts and represents the first completed instalment of a NZ$600,000 initial order under an exclusive distribution agreement with the rural co-operative.

The agreement, which followed trials over four growing seasons in New Zealand’s kiwifruit industry, is the clearest commercial milestone in the quarter. Skin Elements is now working on a second NZ$150,000 delivery, with the remainder of the initial order to follow. The company said its initial focus is the kiwifruit industry, where pseudomonas syringae pv actonidiae has caused significant economic damage.

The Farmlands arrangement was announced alongside the company’s broader capital and board reset in July, including regulatory work for ECO-Nurture in New Zealand. Farmlands distribution deal has now moved beyond agreement signing, but it remains only partly fulfilled.

ACVM Approval Still Separates Initial Order From National Sales

Skin Elements is progressing registration under New Zealand’s Agricultural Compounds and Veterinary Medicines Act. Approval is a condition for the next commercial step described in the filing: an intended national sales agreement that would give Farmlands exclusive ongoing distribution rights across New Zealand.

That makes the current revenue useful but limited evidence. The first delivery demonstrates that product can be supplied under the initial arrangement, while the proposed national rollout remains dependent on regulatory approval and has not yet been executed. ECO-Nurture’s performance claims in the announcement relate to independent laboratory and field trials and should not be read as confirmation of a completed regulatory pathway.

Placement Proceeds Extend the Cash Runway

Cash and cash equivalents stood at A$1.455 million at 30 September, after Skin Elements received the A$900,000 raised through its June placement. A$900,000 June placement was intended to support ECO-Nurture, SuprCuvr, Soléo Organics and PapayaActivs, and the proceeds accounted for most of the quarter’s A$887,000 net financing inflow after issue costs.

Net cash used in operating activities fell to A$272,000 from A$874,000 in the June quarter, which included non-recurring legal and professional costs related to section 249D requisitions. On the current quarter’s operating cash use, the Appendix 4C calculates 5.35 quarters of available funding. That is a mechanical runway estimate rather than a forecast: production volumes, regulatory work, working capital and commercial investment could change the rate of cash consumption.

Board Review Targets Manufacturing and Customer Sales

The renewed board has begun a strategic and operational review covering supply chain, manufacturing, laboratory arrangements and expenditure. Skin Elements said it had selected a preferred contract manufacturing laboratory, rationalised operating costs and tightened budgeting and expenditure approvals, while continuing to assess production processes and logistics ahead of higher ECO-Nurture volumes and additional product runs.

The company has also launched a new online shop and started re-engaging 34,816 registered customers through an email campaign. Soléo Organics’ high-performance sunscreen range has undergone formulation changes and is moving towards production, subject to testing and applicable regulatory requirements. A qualifying FY2026 research and development tax refund has been assessed at A$502,090; after repayment of the A$288,000 Radium Capital advance, the net balance is expected during the December quarter.