EDEN Eden Research Plc

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

16 December 2024

Eden Research

("Eden" or "the Company")

Appointment of distributor in Austria

Eden Research plc (AIM: EDEN), a leader in sustainable biopesticide and biocontrol products, is pleased to announce it has signed an agreement with Sumi Agro Europe for the distribution of its flagship fungicide, Mevalone®, in Austria.

Sumi Agro Europe's appointment as Eden's exclusive distributor expands the companies' partnership across the Central European region, with Sumi Agro Europe already acting as the exclusive distributor for Mevalone in a number of countries, including Poland and Germany. Application for Mevalone's use has been submitted with the local regulators, and a decision is expected in 2025. Authorisation will initially apply to grapes and apples.

Renowned for its dry and delicate Grüner Veltliner grape variety, Austria is amongst Central Europe's largest wine markets, with over 45,000 hectares of vineyards across the country. Austria is a leader in not only conventional production but also organic and biodynamic viticulture. Over 15% of vineyards are certified organic, reflecting the country's commitment to sustainability. Additionally, strict wine regulations ensure high-quality production, with classifications like DAC (Districtus Austriae Controllatus) defining regional typicity.  As a biopesticide derived on plant-based chemistry, Mevalone is exempt from such residue limits, providing vineyard managers and grape growers with greater flexibility.

As the third largest producer of apples across Central Europe, behind Poland and Germany, apples also make up a sizable portion of Austria's overall agricultural output, with apple orchards spanning approximately 15,000 hectares. Mevalone has been shown to extend the life of apples in the supply chain, minimising food waste between farm to consumer.

Sean Smith, Chief Executive Officer of Eden Research plc, commented:

"As we prepare for a full launch of our product across Austria, we are delighted to expand our partnership with Sumi Agro who have been a trusted and reliable partner across the Central European region, backed by a strong network of customers. As with other neighbouring territories, Mevalone's upcoming introduction to the Austrian market comes at a time when regulators are taking increasing action against conventional products, leaving local farmers with few alternatives. We believe Mevalone not only provides a direct alternative to those farmers needing to address these market challenges but it is also aligned with the regulator's objectives to foster a more sustainable agricultural future."

Nicola De Tomasso, Business Development Manager in Sumi Agro Europe, commented:

"Eden's mission to bring sustainable agriculture to the industry through plant-derived chemistry has resonated incredibly well with our customers across Germany and Poland. Extending our partnership with the company into Austria has been an obvious decision considering Mevalone's recent success in the region, which we expect to continue growing from strength to strength. We look forward to cooperating closely with Eden towards achieving full authorisation for Mevalone and, upon its receipt, working swiftly to distribute the product across our network of Austrian vineyards and orchards."

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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 three 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 seed treatment product, EcovelexÔ was developed to safely tackle crop destruction caused by birds - a major cause of losses in maize and other crops. Ecovelex works by creating an unpleasant taste or odour that repels 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, registered in the EU, U.S. and elsewhere, and formulated using Eden's Sustaine® microencapsulation system.

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.