Eden Research plc Organic Certification in Greece (9866H)

TIDMEDEN

RNS Number : 9866H

Eden Research plc

30 November 2022

Eden Research Plc

("Eden" or "Company")

Eden gains organic certification for Mevalone and Cedroz in Greece

Eden Research plc (AIM: EDEN), the AIM-quoted company focused on sustainable biopesticides for use in the global crop protection, animal health and consumer products industries is pleased to announce that both of its products Mevalone and Cedroz have received certification for use in organic farming in Greece.

The certification, received by Eden's regional partner, K&N Efthymiadis ('KNE'), follows the authorisation of Eden's three EU-registered active ingredients for use in organic farming in 2020.

K&N Efthymiadis distributes Cedroz in Greece on behalf of Eastman Chemical Company ("Eastman"), Eden's distribution partner across nearly 30 countries globally. Cedroz is registered and used on a wide variety of both indoor and outdoor crops, including strawberries, tomatoes, aubergine, peppers, okra, cucumber, zucchini, pumpkin, melon, and watermelon. Cedroz is a bionematicide that tackles root knot nematodes, a pest that causes severe damage to crops globally. Alongside this, KNE also distributes Eden's biofungicide, Mevalone, for use on a variety of crops including grapes, kiwis, olives and tomatoes.

Greece is an important market for the commercialisation of both Mevalone and Cedroz with fruit and vegetable crops accounting for 18.8% of total agriculture production. Tomatoes are Greece's main vegetable export, shipping to 40 countries around the world, primarily in Europe, Middle East and USA. Between 2018 and 2021, the UK spent approximately EUR 22.5 million on average for supplies of Greek tomato products accounting for more than 36% of the total Greek turnover from agriculture exports of tomatoes.

Furthermore, in 2021, organic crops made up 10% of the country's agriculture and this figure is increasing year on year reflecting a rapidly growing market. This trend aligns with a broader transition to organic farming across Europe.

Sean Smith, Chief Executive Officer of Eden, said : "We are pleased to begin selling our products to organic farmers in Greece. The country is already an important market for us and will now continue to grow in significance. We are seeing a consistent rising demand for organic produce amongst consumers and growers. This is also supported by regulation. Under its Farm to Fork strategy, the EU has proposed that at least 25% of the EU's agricultural land should be farmed organically by 2030, and the action plan supporting this change has now reached the public consultation phase. We are, therefore, delighted that Eden's products can provide growers with effective and sustainable solutions that meet organic standards. Organic status also provides further differentiation for our products within the market for conventionally grown produce, where Cedroz and Mevalone deliver performance that is equivalent to conventional chemical pesticides but with all of the benefits of a sustainable solution, including maximum residue level exemptions and low pre-harvest intervals."

For further information contact:

 
 Eden Research plc                           www.edenresearch.com 
 Sean Smith 
  Alex Abrey                                 01285 359 555 
 
 Cenkos Securities plc (Nominated advisor 
  and broker) 
 Giles Balleny / Max Gould (corporate 
  finance) 
  Michael Johnson (sales)                    020 7397 8900 
 
 Hawthorn Advisors (Financial PR) 
 Felix Meston                                eden@hawthornadvisors.com 
  Johanna Pemberton

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 (R) 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 (TM) 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(R) 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, as well as in the United States on OTC under the symbol EDNSF. 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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