REG - Eden Research plc - Organic Certification in Greece

Eden ResearchAnnouncement

30/11/2022 07:00

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RNS Number : 9866H  Eden Research plc  30 November 2022

30 November 2022

Eden Research Plc

("Eden" or "Company")

Eden gains organic certification for Mevalone and Cedroz in Greece

Eden Research plc (AIM: EDEN), the AIM-quoted company focused on sustainable
biopesticides for use in the global crop protection, animal health and
consumer products industries is pleased to announce that both of its products
Mevalone and Cedroz have received certification for use in organic farming in
Greece.

The certification, received by Eden's regional partner, K&N Efthymiadis
('KNE'), follows the authorisation of Eden's three EU-registered active
ingredients for use in organic farming in 2020.

K&N Efthymiadis distributes Cedroz in Greece on behalf of Eastman Chemical
Company ("Eastman"), Eden's distribution partner across nearly 30 countries
globally.  Cedroz is registered and used on a wide variety of both indoor and
outdoor crops, including strawberries, tomatoes, aubergine, peppers, okra,
cucumber, zucchini, pumpkin, melon, and watermelon. Cedroz is a bionematicide
that tackles root knot nematodes, a pest that causes severe damage to crops
globally. Alongside this, KNE also distributes Eden's biofungicide, Mevalone,
for use on a variety of crops including grapes, kiwis, olives and tomatoes.

Greece is an important market for the commercialisation of both Mevalone and
Cedroz with fruit and vegetable crops accounting for 18.8% of total
agriculture production. Tomatoes are Greece's main vegetable export, shipping
to 40 countries around the world, primarily in Europe, Middle East and USA.
Between 2018 and 2021, the UK spent approximately EUR 22.5 million on average
for supplies of Greek tomato products accounting for more than 36% of the
total Greek turnover from agriculture exports of tomatoes.

Furthermore, in 2021, organic crops made up 10% of the country's agriculture
and this figure is increasing year on year reflecting a rapidly growing
market. This trend aligns with a broader transition to organic farming across
Europe.

Sean Smith, Chief Executive Officer of Eden, said: "We are pleased to begin
selling our products to organic farmers in Greece. The country is already an
important market for us and will now continue to grow in significance. We are
seeing a consistent rising demand for organic produce amongst consumers and
growers. This is also supported by regulation.  Under its Farm to Fork
strategy, the EU has proposed that at least 25% of the EU's agricultural land
should be farmed organically by 2030, and the action plan supporting this
change has now reached the public consultation phase. We are, therefore,
delighted that Eden's products can provide growers with effective and
sustainable solutions that meet organic standards.  Organic status also
provides further differentiation for our products within the market for
conventionally grown produce, where Cedroz and Mevalone deliver performance
that is equivalent to conventional chemical pesticides but with all of the
benefits of a sustainable solution, including maximum residue level exemptions
and low pre-harvest intervals."

 

 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)
 Felix Meston                                          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, as well as in the United States on OTC under the symbol EDNSF. 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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