Eden Research says France sign-off for key product opens up significant new market

Eden Research PLC (AIM:EDEN, OTCQB:EDNSF) said France gave the green light for the company’s biofungicide, Mevalone, to be used on apples and pears to prevent post-harvest storage diseases.

The sign-off from regulatory agency ANSES opens up a significant new market for the business, investors were told.

France produces close to 1.6mln tonnes of apples annually and is consistently among the top three apple producing countries in the EU.

Mevalone’s advantage over traditional crop protection is it can be applied in the critical last weeks of the season when skin damage occurs leading to rot in storage, the sustainable biopesticides and plastic-free products group said.

Traditional pesticides often have to be applied earlier than is optimal because of the chemicals left behind. The Eden product contains natural plant active ingredients which are exempt from EU crop residue limits.

"The new use of Mevalone on apples, which are classed as a major crop in France, is an exciting development for Eden, and grows our addressable market in this key European territory,” said chief executive Sean Smith.

“Mevalone has significant potential in several market segments, and we are focused on developing the product to meet the needs of farmers who are increasingly unable to use many conventional chemicals due to more stringent regulations.”

The product has been available in the country under an emergency use authorisation since 2019.