Eden Research raises £9.9mln and secures first commercial Ecovelex order
October 10, 2023 at 04:06 am EDT
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Eden Research PLC (AIM:EDEN, OTCQB:EDNSF) CEO Sean Smith speaks to Thomas Warner from Proactive following a busy period for the sustainable biopesticide company that has included the publication of interim results, the first commercial order for its seed treatment Ecovelex and a £9.9mln fundraise.
Smith addresses the interims first, highlighting the company's steady progress despite challenging market conditions particularly in southern Europe. He goes on to discuss the company's new bird-repelling seed treatment, Ecovelex, developed in partnership with Corteva Agriscience, the world's largest agriscience pure play company. Ecovelex is awaiting regulatory clearance, with farmers in the UK and Italy petitioning for emergency approval due to the removal of a current product from the market.
He finishes by revealing more details about what Eden Research investors can expect the company to do with the proceeds of a £9.9mln fundraise, noting that Eden will be working to support the commercialisation of Ecovelex as moves toward regulatory clearance.
He also mentions a potential new insecticide product "which is currently undergoing trials in more than 140 different locations around the world."
Contact Details
Proactive UK Ltd
+44 20 7989 0813
uk@proactiveinvestors.com
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Eden Research plc is a United Kingdom-based company, which is focused on biopesticides for sustainable agriculture. The Company develops and supplies biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries. Its products are formulated with terpene active ingredients, based on natural plant defense metabolites. Its product portfolio includes Mevalone and Cedroz. Mevalone is a foliar biofungicide, which targets a key disease affecting grapes and other high-value fruit and vegetable crops. Cedroz is a bionematicide that targets free-living nematodes, which are parasitic worms that affect a range of high-value fruit and vegetable crops globally. The Company'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.
EDEN RESEARCH PLC 
