First Order For Ecovelex

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 Alex Abrey	www.edenresearch.com [phone]
Cenkos Securities plc (NOMAD and broker to Eden Research plc)
Giles Balleny / Max Gould (corporate finance) Michael Johnson (sales)	[phone]
Hawthorn Advisors (Financial PR to Eden Research plc)
Simon Woods Felix Meston	[e-mail]

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.

Follow Eden on LinkedIn, Twitter and YouTube. 

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.

 

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