REG - Eden Research plc - First Order For Ecovelex

Eden ResearchAnnouncement

16/08/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230816:nRSP4283Ja&default-theme=true

RNS Number : 4283J  Eden Research plc  16 August 2023

16 August 2023

 

 

Eden Research

("Eden" or "the Company")

 

Eden receives its first order for Ecovelex(®)

 

Eden's new sustainable seed treatment product helps farmers safely repel
birds.

 

Eden Research plc (AIM: EDEN; OTCQB: EDNSF), 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 that it has received its first commercial order for Ecovelex.

 

Developed by Eden Research over the past three years, Ecovelex represents a
new entrant into the seed treatment market and is intended to replace
conventional chemicals that are facing significant regulatory pressures in the
EU and UK. This new product was developed to tackle crop destruction caused by
birds, a major cause of losses in maize and other crops.

 

Until full authorisation is received, the use of Ecovelex to treat seeds this
year is contingent upon certain countries granting emergency use
authorisation. Unless, and until, emergency use approvals are granted, it is
difficult to anticipate the full demand in the short term.

 

Following the successful fundraise announced by the Company on 28 July 2023,
production of Ecovelex is now underway to fulfil this initial order. It is
expected that the order will be shipped towards the end of the year so that,
in the event of receipt of relevant regulatory approvals, it will be available
in time for the seed treatment window for the 2024 growing season.

 

Sean Smith, Eden CEO, said: "I'm pleased to have received our first commercial
order for Ecovelex and am pleased to report that production is underway here
in the UK to fulfil the order.

 

At this point in the year, and without visibility on emergency use
authorisations, it is not possible to provide guidance on the overall
potential financial impact of the Ecovelex sales, however, this order and
initial production is clearly a positive step forward for maize growers and
the Company."

 

 

 

 

 

 

 

For further information contact:

 

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

Alex Abrey

                                                 +44 (0) 1285 359 555

 Cenkos Securities plc (NOMAD and broker to Eden Research plc)
 Giles Balleny / Max Gould (corporate finance)     +44 (0) 20 7397 8900

Michael Johnson (sales)

 Hawthorn Advisors (Financial PR to Eden Research plc)
 Simon Woods                                       eden@hawthornadvisors.com (mailto:eden@hawthornadvisors.com)

 Felix Meston

 

Notes to Editors:

 

About Eden

 

Eden 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 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, please visit:  www.edenresearch.com
(http://www.edenresearch.com/) .

 

Follow Eden on LinkedIn (https://www.linkedin.com/company/eden-research-plc/)
, Twitter (https://twitter.com/edenresearch)  and YouTube
(https://www.youtube.com/@edenresearch580) .

 

 

About Ecovelex

 

Ecovelex is new entrant into the seed treatment market developed to tackle
crop destruction caused by birds, a major cause of losses in maize and other
crops and is intended to replace conventional chemicals that are facing
significant regulatory pressures in the EU and UK.

 

Ecovelex works by affecting the bird's olfactory system, creating an
unpleasant taste or odour that repels the birds, leaving the seeds safely
intact and the birds unaffected and free to find alternative food sources.
The product is based on Eden's plant-derived chemistry and formulated using
the Company's Sustaine(®) microencapsulation technology, supporting farmers
as they strive to meet consumer and regulator demands for more sustainable
agriculture.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  CNTNKPBBKBKBKFD