FLAGSTAFF, Ariz., Sept. 11, 2017 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES), a developer of proprietary technologies for managing animal pest populations through fertility control, today announced a bold statement by the Board of Directors of corporate social responsibility and commitment to sustainability aligned with the SenesTech mission.
SenesTech endeavors to expand its commitment to building a sustainable future for people and the planet. We will expand our positive impact by pursuing innovative partnerships, improving operations, and through market expansion of our core technology to increase health and well-being, promote sustainability and grow our product reach and impact globally.
SenesTech's decisions and actions regarding sustainability practices will be guided by its mission statement and will be reflective of budgetary constraints and legal, regulatory and programmatic requirements. The scope, direction, and expectations underlying SenesTech's Policy on Sustainable Practices will be developed over the course of the next twelve to eighteen months.
"The very nature of our technology offers a sustainable solution that targets the global threats that rodents pose to our health, well-being, and economy," said Dr. Loretta Mayer, CEO of SenesTech. In partnership with Kito Global, Meridian Institute, and Arlene Mitchell, SenesTech has launched a Corporate Social Responsibility (CSR) commitment to address the needs of our customers and demands of the public. "Customers have overwhelming demonstrated a willingness to pay for products from socially or environmentally responsible companies and a full 93% of the world's largest companies now publish CSR reports," said Dr. Jamie Bechtel, Kito Global. Currently 64% of SenesTech orders filled to date are from customers with environmental and sustainable concerns.
SenesTech strives to position itself as a leader in social and environmental impact by integrating CSR into SenesTech's business strategy and management processes. Pursuing an integrated CSR approach will provide additional opportunities for growth, strengthening of brand, and cost savings, while mitigating reputational, legal, and competitive risks. SenesTech recognizes that Corporate Sustainability demonstrably increases shareholder wealth and corporate value and we look forward to pursuing shared value creation.
SenesTech has developed an innovative technology for managing animal pest populations through fertility control as opposed to a lethal approach.
The Company's first fertility control product, ContraPest®, is marketed for use initially in controlling rat infestations. ContraPest's novel technology and approach targets the reproductive capabilities of both sexes, inducing egg loss in female rodents and impairing sperm development in males. Using proprietary bait stations, ContraPest is dispensed in a highly palatable liquid formulation that promotes sustained consumption by rodent communities. ContraPest is designed, formulated and dispensed to be safe for handlers and non-target species such as wildlife, livestock and pets, in a biodegradable product. In contrast, the historical approach to managing rodent pest populations, rodenticides, carries a high risk of environmental contamination and the poisoning of non-target animals, pets and children.
We believe our non-lethal approach, targeting reproduction, is more humane, less harmful to the environment, and more effective in providing a sustainable solution to pest infestations than traditional lethal pest management methods. There is currently no other non-lethal fertility control product approved by the Food and Drug Administration (FDA), or the Environmental Protection Agency (EPA), for the management of rodent populations. We believe ContraPest® will establish a new paradigm in rodent control, resulting in improved performance in rodent control over rodenticides, without the negative environmental effects of rodenticides. For more information visit the SenesTech website at www.senestech.com.
Safe Harbor Statement
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors and other risks identified in our filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.
Company: Tom Chesterman, Chief Financial Officer, SenesTech, Inc., 928-779-4143