Eden Regulatory News (EDEN)

15 June 2023

Eden Research plc

("Eden" or "the Company")

Appointment of New Product Distributor - Colombia

Eden Research plc (AIM: EDEN), 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 the appointment of Anasac Colombia Ltd ("Anasac") as the Company's exclusive distributor of Mevalone® in Colombia.

Anasac's appointment precedes a regulatory application which will be made to the relevant authorities to allow the use of Mevalone on ornamental crops (such as freshly cut flowers) in Colombia to prevent and cure outbreaks of Botrytis cinerea. Once approved, ornamental plant growers and florists will be permitted to apply Mevalone to their flowers during production and after harvest.

Botrytis infection develops in almost all plant tissues of grown and cut flowers. Fungicides are typically used in the defence against botrytis to extend the life and appearance of high-value flowers. The degree of chemical control required is dependent on environmental conditions, the crop variety and the severity of the disease. Given the warm and humid conditions in Colombia, the use of fungicides is common practice in flower production, particularly in preparation for the export market.

Cut flowers represent a significant portion of Colombia's export market, being the 6th most exported product in Colombia. In 2021, Colombia exported $1.73 billion of cut flowers, making it the 2nd largest exporter of cut flowers globally, with the US importing $1.35 billion of that production. According to research by Mordor Intelligence, the overall Latin American biopesticides market is projected to grow 13.8% between 2020 to 2025.

Anasac has a long track-record of product delivery across Mexico, Central and Latin America, and Asia, operating in 19 countries. Colombia is one of Anasac's largest markets, where it currently generates sales of over US$18 million per annum, with an aspiration to increase this substantially.

Sean Smith, CEO of Eden Research plc, commented:

"We are looking forward to making our entrance into the Latin American market with Mevalone in Colombia. With Anasac as our chosen distribution partner in Colombia, we are confident the company's impressive network across the region will enable Eden to capitalise on the significant commercial opportunities that exist in this substantial and growing market.

"We expect this initial target application to be the first of many to come in Colombia as we seek to expand the Mevalone label to other crops and disease targets. Our continued territorial push across mature and emerging markets underlines our commitment to serving the growing global demand for sustainable disease and pest control in horticulture."

Sergio Comparini, General Manager of Anasac Colombia, commented:

"We are pleased to be working with Eden to bring its leading biopesticide product to the Colombian market. There is growing demand for more sustainable growing practices, and farmers are increasingly opting for plant-based chemicals that are more kind to the planet and just as effective as their conventional counterparts. This is particularly important to those involved in the ornamental crop segment, where a large proportion of these products are exported out of the country and need to meet very strict export standards. Eden's effective yet sustainable products provide the perfect natural solution."

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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 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. 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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