Eden Research plc (AIM: EDEN) Mevalone Approval in the State of California

Eden granted regulatory approval in the State of California for Mevalone

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, announces that it has received regulatory approval in the State of California for Mevalone ^®, a foliar biofungicide developed initially to target botrytis on grapes. 

California is a key area of focus given the prevalence of high value horticultural crops, including grapes, and is home to the nation’s largest wine producing regions such as Napa Valley, Sonoma Valley and Monterey. According to the Wine Institute, California produced a total of 649,437,429 gallons of wine in 2021 accounting for 84% of the United States’ total production. Marketing of the product has commenced for this year’s growing season in partnership with Sipcam Agro USA, part of Sipcam Oxon Group.

Regulators around the world have banned a growing number of commonly used conventional chemical pesticide products in recent years. As a result, farmers need viable alternatives to maintain yields and keep up with growing demand for food. Biopesticides, such as Eden’s Mevalone, are becoming an increasingly popular option for farmers looking to adopt more environmentally friendly practices. These products are based on naturally occurring substances without compromising efficacy, yield or production costs.

This development follows regulatory approval from the United States Environmental Protection Agency (EPA) in September 2022 for all five petitions submitted by Eden, presenting significant revenue opportunities for the company with an addressable market in the US of approximately €94 million for Mevalone and €189 million for Cedroz™, Eden’s nematicide product.

Sean Smith, Chief Executive Officer of Eden Research plc, commented:

“This development represents another step in Eden’s expansion into the United States, the world’s second largest food market.

As a small, innovative British business, we are proud of the impact that Eden can have on the global stage. Our pioneering products and technologies are receiving regulatory approval and being distributed by our partners across Europe, Africa and now North America, accelerating the adoption of more sustainable practices in agriculture globally.“

Brent Marek, CEO of Sipcam Agro USA, commented: “Mevalone is a highly effective, sustainable biofungicide. Mevalone provides the perfect natural solution for farmers in California adopting more sustainable growing practices. Sipcam Oxon SpA has enjoyed several years of success with Mevalone in key European countries such as Italy and Spain, and we look forward to working with the Eden team to bring this product to California, which is a significant addressable market in the US considering its production of high value crops such as grapes.”

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