Eden Research plc New authorisations for bio-fungicide in Spain (0352U)
March 31 2021 - 1:00AM
UK Regulatory
TIDMEDEN
RNS Number : 0352U
Eden Research plc
31 March 2021
31 March 2021
Eden Research Plc
("Eden" or "Company")
New authorisations for bio- fungicide in Spain
Eden Research plc (AIM: EDEN), the AIM-quoted company focused on
sustainable biopesticides and plastic-free formulation technology
for use in global crop protection, animal health and consumer
products industries, announces that Sipcam Iberia, Eden's
commercial partner in Spain and Portugal, has received
authorisation for the sale of Eden's bio-fungicide in Spain for use
on a range of new crops for the control of a larger number of
fungal pathogens. The product, known as 3LOGY(R) in Italy and
Mevalone(R) in the rest of Europe, is authorised and marketed under
the trade name "ARAW(R)" in Spain.
ARAW has been authorised for use in Spain where it is used as a
sustainable and residue-free solution for control of the disease
Botrytis cinerea, a prominent fungal pathogen affecting many plant
species. Botrytis causes annual economic losses of more than $10
billion worldwide and is a significant disease in grapes and
several other crops, severely impacting crop yield and quality.
The new authorisation will see ARAW used on major crops
including strawberries, peppers, courgettes, aubergine, tomatoes,
lettuce, brassicas, and raspberries. Authorisation has now also
been given for the use of ARAW on an expanded list of diseases
including powdery mildew on a range of significant horticultural
crops, as well as on grapes.
Spain is a key market for Eden and Sipcam Iberia, which markets
and sells ARAW. Over 24% of the European Union's production of
fruit and vegetables originates in Spain, according to Eurostat
figures. The value of horticultural production alone (excluding top
fruit and stone fruit) in Spain was estimated to be EUR10 billion
in 2020.
ARAW has been in the Sipcam portfolio for a number of years, so
the sales and marketing teams already have detailed knowledge of
its performance, which will assist in the promotion of the product
in these new crop areas. As a product with an organic designation,
the label extension for ARAW brings significant benefit to organic
producers of horticultural crops in particular. The organic sector
is a fast-growing market with 9.3% of the country's total Useful
Agricultural Area already dedicated to organic production and an
average annual increase in the total organic acreage of 7.5% over
the last five years. However, Sipcam also sees multiple
opportunities for ARAW to be used by non-organic growers too due to
its high efficacy as a fungicide. ARAW performs well in multiple
conditions and within various integrated pest management
strategies.
Sean Smith, Chief Executive Officer of Eden, said: "This
expansion of the label for ARAW in Spain represents a meaningful
increase in Eden's addressable market. Given the significance of
Spain as a producer of horticultural crops in Europe, we are
directly able to capitalise upon the growing trends toward
sustainable agriculture and residue-free products that can be used
in both organic and conventional growing systems. There is growing
pressure within the food chain for the reduction of pesticide
residues, which was pointed out in the Eurobarometer 2019 as one of
the major concerns for European consumers. For this reason, the
fact that ARAW is exempt from the maximum residue limits is
becoming ever more significant for many producers.
These trends are also aligned with the EU's European Green Deal
priorities, and we are pleased to help empower this shift toward
sustainable, residue-free crop production in one of Europe's key
agricultural markets."
For further information contact:
www.edenresearch.com
Eden Research plc
Sean Smith
Alex Abrey 01285 359 555
Cenkos Securities plc (Nominated advisor
and broker)
Giles Balleny / Camilla Hume/ Mark Connelly
(corporate finance)
Michael Johnson (sales) 020 7397 8900
Hawthorn Advisors (Financial PR)
Lorna Cobbett / Victoria Ainsworth eden@hawthornadvisors.com
Notes to Editors:
Eden Research is an AIM quoted company that develops and
supplies breakthrough biopesticide products and natural,
plastic-free microencapsulation technologies to the global crop
protection, animal health and consumer products industries.
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 extract. It is one
of the only viable, proven and immediately registerable solutions
to the microplastics problem in formulations requiring
encapsulation.
Eden has numerous patents and a pipeline of products at
differing stages of development targeting specific areas of the
global agrochemicals industry. Eden was admitted to trading on AIM
in May 2012.
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