TIDMEDEN
RNS Number : 9140Y
Eden Research plc
07 January 2020
7 January 2020
Eden Research plc
("Eden" or "Company")
Eden's three EU-registered active ingredients approved in
Organic Production Regulation
Eden Research plc (AIM: EDEN), the AIM quoted company that
develops and supplies breakthrough biopesticide products and
natural microencapsulation technologies to the global crop
protection, animal health and consumer products industries, is
pleased to announce that its three EU-registered active
ingredients, geraniol, eugenol and thymol, have all been approved
for use in organic farming following inclusion in the EU's Organic
Production Regulation.
Organic farming covered 12.6 million hectares of agricultural
land in the EU Member States in 2017, equivalent to 7% of the total
utilised agricultural area. Between 2012-2017, land assigned for
organic growing within these Member States increased by 25%. In
Italy and Spain, the conversion rates from conventional to organic
agriculture grew by over 60% with the share of organic production
totalling 15.2% and 13.9% respectively.
Pursuant to this approval, Eden's products will provide organic
growers with the high levels of efficacy often associated with
conventional chemical pesticides, thereby providing the Company's
growers with another alternative and sustainable solution.
Sean Smith, CEO of Eden Research commented: "We are very excited
by this approval for EU organic farming as this opens up a new
commercial opportunity for Eden which is relevant to all of the
products that we have developed and continue to develop using our
three EU registered active ingredients.
"It is clear that there is growing demand from consumers within
the EU for organic products and this is matched by rapidly growing
production. Consequently, areas assigned by EU Member States for
organic agriculture have grown by 70% in the last ten years(*) with
organic retail sales reaching EUR34bn in 2017."
For further information contact:
Eden Research plc www.edenresearch.com
Sean Smith
Alex Abrey 01285 359 555
Cenkos Securities (Nominated advisor and
broker)
Giles Balleny / Cameron MacRitchie (corporate
finance)
Michael Johnson (sales) 020 7397 8900
Powerscourt (Financial PR)
Nick Dibden 020 7250 1446
Courtney Sanford eden@powerscourt-group.com
* A report from the European Commission into Organic farming in
the EU, published March 2019.
https://ec.europa.eu/info/sites/info/files/food-farming-fisheries/farming/documents/market-brief-organic-farming-in-the-eu_mar2019_en.pdf
Notes:
Eden Research is an AIM listed company that develops and
supplies breakthrough biopesticide products and natural
microencapsulation technologies to the global crop protection,
animal health and consumer products industries
Eden's Sustaineä encapsulation technology harnesses the biocidal
efficacy of naturally occurring chemicals produced by plants
(terpenes) and can 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 extract. They
produce stabilised aqueous suspensions which, are easy to mix and
apply, have phased release patterns, are safer for the environment
and the crops themselves.
The European Chemicals Agency (ECHA) has proposed an EU-wide
restriction on the placing on the market or use of
"intentionally-added" microplastic particles. The proposed
restriction includes the use of microplastics for agricultural and
horticultural purposes, including polymers utilized for
controlled-release fertilizers, encapsulated plant protection
products (PPPs), seed coatings, and biocides.
By 2025 in the EU, pesticides containing synthetic polymer
microplastics are likely to be banned and removed from the market.
The only acceptable alternative is the substitution with
biodegradable formulations. Reformulated products will need to be
evaluated and registered within the five-year transition
period.
Sustaine is one of the only viable, proven and immediately
registerable solutions to the microplastics problem in formulations
requiring encapsulation.
Historically, terpenes have had limited commercial use in the
agrochemical sector due to their volatility, phytotoxicity and poor
solubility. Sustaine provides a unique, environmentally friendly
solution to these problems and enables terpenes to be used as
effective, low-risk agrochemicals.
Eden is developing these technologies through innovative
research and a series of commercial production, marketing and
distribution partnerships.
The Company has a number of patents and a pipeline of products
at differing stages of development targeting specific areas of the
global agrochemicals industry. To date, the Company has invested in
the region of GBP14m in developing and protecting its intellectual
property and seeking regulatory approval for products that rely
upon the Company's technologies. Revenues earned by the Company
have been modest whilst the Company has concentrated on securing
patent protection for its intellectual property, gaining regulatory
approvals, identifying suitable industrial partners, and entering
into commercial agreements.
In May 2013, the three actives that comprise Eden's first
commercial product, Mevalone, were approved as new ingredients for
use in plant protection products by the European Commission ("EC").
This represented a major milestone in the commercialisation of
Eden's technology and is a significant accomplishment for any
company. To illustrate this point, one should note that in 2013,
Eden's approvals represented 3 of only 10 new active ingredients
approved by the EC.
Mevaloneä is a foliar fungicide which has been authorised for
sale in Kenya, Malta, Greece, Bulgaria,
Spain, Italy, France, Cyprus, Albania, Portugal and
Macedonia.
Cedrozä is a nematicide which has been authorised for sale in
Malta, Belgium and Mexico.
Eden was admitted to trading on AIM on 11 May 2012 and trades
under the symbol EDEN.
For more information about Eden, please visit:
www.edenresearch.com.
END
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 or visit www.rns.com.
END
READZGGMGVDGGZZ
(END) Dow Jones Newswires
January 07, 2020 02:00 ET (07:00 GMT)
Eden Research (LSE:EDEN)
Historical Stock Chart
From Apr 2024 to May 2024
Eden Research (LSE:EDEN)
Historical Stock Chart
From May 2023 to May 2024