TIDMEDEN
RNS Number : 0902E
Eden Research plc
05 July 2021
5 July 2021
Eden Research Plc
("Eden" or "Company")
Regulatory approval for Cedroz(TM) in Morocco and Mevalone(R) in
Romania
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, announces that its bionematicide, Cedroz, has
received authorisation for sale in Morocco and that its
biofungicide, Mevalone, has received authorisation for sale in
Romania.
Cedroz - Morocco
The approval in Morocco covers the use of Cedroz on tomatoes and
cucumbers and is the first product authorisation for an
Eden-developed product in this territory .
Tomatoes form a core part of Morocco's agricultural output, with
the region producing around 565,000 tonnes of the crop per year,
with sales representing 15.5% of the country's nominal Gross
Domestic Product. Of this, Morocco exports around 33% of the
tomatoes produced, with up to 90% consumed by the EU.
There is an increasing focus on Integrated Pest Management by
the Moroccan Government, and a rising preference for the use of
biofertilizers and biopesticides in both conventional and organic
farming. As such, there is an opportunity for bio-nematicides, such
as Cedroz, to address growing demands for the use of fewer
synthetic chemical inputs and reduced residues in food. Cedroz will
be distributed by Eden's regional commercial collaborator, Eastman
Chemical Company, forming part of its Soil Care offering to farmers
in Morocco, being an effective and sustainable solution to help
fight nematodes, while ensuring harvested products meet export
criteria and customer expectations for residue free crops.
Mevalone - Romania
In Romania, Mevalone is now approved for use on wine and table
grapes. Romania is ranked as the sixth largest wine producer in
Europe, where over 182,000 hectares of grapevines produce up to 5
million hectolitres of wine each year. A popular and widespread
variety is Feteasc regal , which is susceptible to botrytis.
The key export markets for Romanian wine are Germany and the UK,
where consumers are becoming increasingly aware of the
sustainability credentials of the wine they purchase. In a 2019
report by the Wine Market Council , 63% of respondents in the UK
said that wine being produced sustainably was a purchasing
consideration. The naturally derived ingredients in Mevalone mean
it is well aligned with growers' needs in Romania and consumer
expectations for sustainable, residue-free produce.
Sean Smith, Chief Executive Officer of Eden, commented: "We are
delighted by these new authorisations, which represent the first
approval of Eden-developed products in the Moroccan and Romania
markets, led by our commercial collaborators, Eastman and KNE
Certis, respectively. With governments in these countries focused
on reducing the use of conventional chemicals in agriculture, these
developments represent exciting opportunities for us, as farmers
seek sustainable and effective alternatives. Cedroz has now been
authorised in ten countries and Mevalone in fourteen and we look
forward to working alongside our commercial partners to expand our
products' footprints in the growing biopesticides market."
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 / Camilla Hume/ Mark Connelly
(corporate finance)
Michael Johnson (sales) 020 7397 8900
Hawthorn Advisors (Financial PR)
Victoria Ainsworth eden@hawthornadvisors.com
Johanna Pemberton
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:
Mevalone (R) is a foliar biofungicide which initially targets a
key disease affecting grapes and other high-value fruit and
vegetable crops. 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.
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