Aug. 17, 2023
Eden Research plc (AIM: EDEN; OTCQB: EDNSF), 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, announces that it has received its first commercial order for Ecovelex.
Developed by Eden Research over the past three years, Ecovelex represents a new entrant into the seed treatment market and is intended to replace conventional chemicals that are facing significant regulatory pressures in the EU and UK. This new product was developed to tackle crop destruction caused by birds, a major cause of losses in maize and other crops.
Until full authorisation is received, the use of Ecovelex to treat seeds this year is contingent upon certain countries granting emergency use authorisation. Unless, and until, emergency use approvals are granted, it is difficult to anticipate the full demand in the short term.
Following the successful fundraise announced by the Company on 28 July 2023, production of Ecovelex is now underway to fulfil this initial order. It is expected that the order will be shipped towards the end of the year so that, in the event of receipt of relevant regulatory approvals, it will be available in time for the seed treatment window for the 2024 growing season.
Sean Smith, Eden CEO, said: "I'm pleased to have received our first commercial order for Ecovelex and am pleased to report that production is underway here in the UK to fulfil the order.
At this point in the year, and without visibility on emergency use authorisations, it is not possible to provide guidance on the overall potential financial impact of the Ecovelex sales, however, this order and initial production is clearly a positive step forward for maize growers and the Company."