(Alliance News) - Eden Research PLC on Tuesday said its biofungicide Mevalone has been approved in California.
Eden Research is an Oxfordshire, England-based company focused on sustainable biopesticides and plastic-free formulation technology for use in the global crop protection, animal health and consumer products industries.
The firm said Mevalone, which was initially developed to target botrytis on grapes, acts as a viable alternative for farmers, as regulators continue to ban conventional chemical pesticide products. Mevalone, it said, is based on naturally occurring substances.
The firm said California is a key area of its focus due to the prevalence of high-value horticultural crops and it being home to the US's largest wine-producing regions, including the Napa Valley.
It noted that it has begun marketing for its product for this year's growing season. The firm said there is an EUR94 million market for Mevalone in the US.
Brent Merek, Chief Executive of its partner Sipcam Agro USA, said: "Mevalone is a highly effective, sustainable biofungicide. Mevalone provides the perfect natural solution for farmers in California adopting more sustainable growing practices.
"Sipcam Oxon SpA has enjoyed several years of success with Mevalone in key European countries such as Italy and Spain, and we look forward to working with the Eden team to bring this product to California, which is a significant addressable market in the US considering its production of high value crops such as grapes."
Eden Research shares rose 7.1% to 6.16 pence each on Tuesday morning in London.
By Harvey Dorset, Alliance News reporter
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Eden (EDEN)