REG - Eden Research plc - AGM Statement

Eden ResearchAnnouncement

29/06/2022 07:00

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RNS Number : 5470Q  Eden Research plc  29 June 2022

29 June 2022

 

Eden Research Plc

("Eden" or "Company")

 

AGM Statement

 

Eden Research plc (AIM: EDEN), the AIM-quoted company focused on sustainable
biopesticides and a plastic-free formulation technology for use in global crop
protection, animal health and consumer products industries, will hold its
Annual General Meeting today at 12:00pm at 10 -11 Carlton House Terrace,
London.

 

At the meeting, Eden's Chairman, Lykele van der Broek, will make the
following statement:

 

"The world has changed since we last came together in-person for Eden's AGM.
Despite this unprecedented backdrop, Eden has continued to make positive
strides that have seen us lay down firm foundations for revenue growth.

 

Over the past year, we have expanded our regulatory footprint for our flagship
biopesticide products, Cedroz™ and Mevalone®, and diversified and
strengthened the business through increased crop and disease coverage in
existing territories. This has resulted in modest sales growth, despite the
highly challenging environment, with increased growth expected in 2022 and
beyond.

 

We eagerly await the approval of our two products and three active ingredients
in the US, which will see us significantly expand our addressable market by
entering one of the largest agricultural markets in the world.

 

2021 also saw us sign an exclusive agreement with Corteva Agriscience, the
fourth largest agriscience input company in the world. This partnership is
strong and we work hard together to bring our innovative seed treatment
product to the market, based on Eden's active ingredients and Sustaine®
microencapsulation technology.

 

After a few challenging years, we have a positive outlook for 2022, with an
anticipated return to stronger year-on-year growth, despite some difficult
conditions.

 

We remain focused on registering and commercialising new products, including
our insecticide and seed treatment offerings, expanding the addressable market
for our existing product set, further developing the use of Sustaine with
conventional agrochemical partners, and expanding our product portfolio.

 

We seek to achieve this using our relatively new in-house innovation
capabilities, which have reduced our dependence on third parties, and which
help us to bring products to market in a more efficient and cost-effective
way.

 

We are the only UK-listed company focused on sustainable biopesticides and
plastic free encapsulation technology. As regulators continue to regulate out
conventional crop protection products across the world, and farmers urgently
seek alternatives to maintain their crop yields, Eden's products align
perfectly with the course set for the global industry. We think that this
offers a significant opportunity for our shareholders, commercial partners and
growers and we look forward to working together and sharing good news in the
coming year."

 

 

 

Company presentation

 

After the conclusion of the formal business of the AGM, Sean Smith, Eden's
Chief Executive Officer, will provide a short presentation to investors with
an overview of the Company's progress and strategy.

 

At the beginning of the presentation, Eden will play a short video entitled
"From Lab to Leaf: The biopesticide registration journey", which seeks to
shine a light on the journey that an Eden product goes through from conception
to commercialisation and seeks to raise awareness and understanding of this
complex process.

 

The presentation and short video will be made available on the Company's
website later today.

 

 

For further information contact:

 

 Eden Research plc                                     www.edenresearch.com (http://www.edenresearch.com/)
 Sean Smith                                            01285 359 555

Alex Abrey

 Cenkos Securities plc (Nominated advisor and broker)
 Giles Balleny / Max Gould (corporate finance)         020 7397 8900

Michael Johnson (sales)

 Hawthorn Advisors (Financial PR)
 Stephen Atkinson                                      eden@hawthornadvisors.com (mailto: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:

 

Based on plant-derived active ingredients, Mevalone® 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™( )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(®)( )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
(http://www.edenresearch.com/)  .

 

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