TIDMEDEN
RNS Number : 7542C
Eden Research plc
15 June 2023
15 June 2023
Eden Research plc
("Eden" or "the Company")
Appointment of New Product Distributor - Colombia
Eden Research plc (AIM: EDEN), the AIM-quoted company focused on
sustainable biopesticides and plastic-free formulation technology
for use in the global crop protection, animal health and consumer
products industries, today announces the appointment of Anasac
Colombia Ltd ("Anasac") as the Company's exclusive distributor of
Mevalone(R) in Colombia.
Anasac's appointment precedes a regulatory application which
will be made to the relevant authorities to allow the use of
Mevalone on ornamental crops (such as freshly cut flowers) in
Colombia to prevent and cure outbreaks of Botrytis cinerea. Once
approved, ornamental plant growers and florists will be permitted
to apply Mevalone to their flowers during production and after
harvest.
Botrytis infection develops in almost all plant tissues of grown
and cut flowers. Fungicides are typically used in the defence
against botrytis to extend the life and appearance of high-value
flowers. The degree of chemical control required is dependent on
environmental conditions, the crop variety and the severity of the
disease. Given the warm and humid conditions in Colombia, the use
of fungicides is common practice in flower production, particularly
in preparation for the export market.
Cut flowers represent a significant portion of Colombia's export
market, being the 6(th) most exported product in Colombia. In 2021,
Colombia exported $1.73 billion of cut flowers, making it the 2(nd)
largest exporter of cut flowers globally, with the US importing
$1.35 billion of that production. According to research by Mordor
Intelligence, the overall Latin American biopesticides market is
projected to grow 13.8% between 2020 to 2025.
Anasac has a long track-record of product delivery across
Mexico, Central and Latin America, and Asia, operating in 19
countries. Colombia is one of Anasac's largest markets, where it
currently generates sales of over US$18 million per annum, with an
aspiration to increase this substantially.
Sean Smith, CEO of Eden Research plc, commented:
"We are looking forward to making our entrance into the Latin
American market with Mevalone in Colombia. With Anasac as our
chosen distribution partner in Colombia, we are confident the
company's impressive network across the region will enable Eden to
capitalise on the significant commercial opportunities that exist
in this substantial and growing market.
"We expect this initial target application to be the first of
many to come in Colombia as we seek to expand the Mevalone label to
other crops and disease targets. Our continued territorial push
across mature and emerging markets underlines our commitment to
serving the growing global demand for sustainable disease and pest
control in horticulture."
Sergio Comparini, General Manager of Anasac Colombia,
commented:
"We are pleased to be working with Eden to bring its leading
biopesticide product to the Colombian market. There is growing
demand for more sustainable growing practices, and farmers are
increasingly opting for plant-based chemicals that are more kind to
the planet and just as effective as their conventional
counterparts. This is particularly important to those involved in
the ornamental crop segment, where a large proportion of these
products are exported out of the country and need to meet very
strict export standards. Eden's effective yet sustainable products
provide the perfect natural solution."
For further information contact:
Eden Research plc www.edenresearch.com
Sean Smith
Alex Abrey 01285 359 555
Cenkos Securities plc (Nominated advisor
and broker)
Giles Balleny / Max Gould (corporate
finance)
Michael Johnson (sales) 020 7397 8900
Hawthorn Advisors (Financial PR)
Simon Woods eden@hawthornadvisors.com
Felix Meston
Notes to Editors:
Eden Research is the only UK-listed company focused on
biopesticides for sustainable agriculture. It develops and supplies
innovative biopesticide products and natural microencapsulation
technologies to the global crop protection, animal health and
consumer products industries.
Eden's products are formulated with terpene active ingredients,
based on natural plant defence metabolites. To date, they have been
primarily used on high-value fruits and vegetables, improving crop
yields and marketability, with equal or better performance when
compared with conventional pesticides. Eden has two products
currently on the market:
Based on plant-derived active ingredients, Mevalone (R) is a
foliar biofungicide which initially targets a key disease affecting
grapes and other high-value fruit and vegetable crops. It is a
useful tool in crop defence programmes and is aligned with the
requirements of integrated pest management programmes. It is
approved for sale in a number of key countries whilst Eden and its
partners pursue regulatory clearance in new territories thereby
growing Eden's addressable market globally.
Cedroz (TM) is a bionematicide that targets free living
nematodes which are parasitic worms that affect a wide range of
high-value fruit and vegetable crops globally. Cedroz is registered
for sale on two continents and Eden's commercial collaborator,
Eastman Chemical, is pursuing registration and commercialisation of
this important new product in numerous countries globally.
Eden's Sustaine(R) encapsulation technology is used to harness
the biocidal efficacy of naturally occurring chemicals produced by
plants (terpenes) and can also be used with both natural and
synthetic compounds to enhance their performance and ease-of-use.
Sustaine microcapsules are naturally-derived, plastic-free,
biodegradable micro-spheres derived from yeast. It is one of the
only viable, proven and immediately registerable solutions to the
microplastics problem in formulations requiring encapsulation.
Eden was admitted to trading on AIM on 11 May 2012 and trades
under the symbol EDEN. It was awarded the London Stock Exchange
Green Economy Mark in January 2021, which recognises London-listed
companies that derive over 50% of their total annual revenue from
products and services that contribute to the global green economy.
Eden derives 100% of its total annual revenues from sustainable
products and services.
For more information about Eden, please visit: www.edenresearch.com .
Follow Eden on LinkedIn , Twitter and YouTube .
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