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Eden Research plc - New office and laboratory in Oxfordshire

RNS Number : 6103R
Eden Research plc
01 July 2020
 

1 July 2020

Eden Research Plc

("Eden" or "Company")

New office and laboratory in Oxfordshire

New laboratory facilities in Oxfordshire supports Eden's growth ambitions

Eden Research plc (AIM: EDEN), the AIM-quoted company focused on sustainable biopesticides and plastic-free encapsulation technology for use in global crop protection, animal health and consumer products industries, today announces that it has moved office and opened up a new laboratory facility at Milton Park, one of Europe's leading science and technology communities, located in Oxfordshire. The Company's registered office address has not changed.

The new laboratory facility will allow the Company to do more in-house, including formulation, microbiological screening, plant and seed evaluations and analytical work. It also features high-tech plant growth chambers, allowing Eden to undertake relatively rapid, small scale tests on different plant species. Eden also plans to use the laboratory for important insect-focussed work as part of the Company's plan to develop its first bioinsecticide products, which will allow the Company to enter new addressable markets valued at approximately €850m in the EU and US combined.

Milton Park is home to more than 250 companies and over 9,000 workers and is one of the largest science clusters in the country. The business community features cutting-edge science, technology and innovative businesses, making it a perfect fit for Eden to relocate as part of its strategic ambition to capitalise on new product and market opportunities.  

Sean Smith, CEO of Eden Research, commented: "We are delighted to have been able to complete our office move on time and safely, in spite of the challenges posed by the Covid-19 pandemic. The opening of our new laboratory facilities is an important milestone for Eden. The fact that we now have the ability to conduct in-house research and development improves the efficiency of our operations, helping us to expand the footprint of our business through product development.

"Milton Park is well regarded for being home to some of the UK's top science and technology firms. We are excited to be joining the community and look forward to continuing our work in sustainable agriculture from our new Oxfordshire base."    

 

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 / Cameron MacRitchie (corporate finance)
Michael Johnson (sales)

020 7397 8900

 

 

Hawthorn Advisors (Financial PR)

 

Jana Tsiligiannis
Ed Curtis

[email protected]

 

 

Notes:

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 encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can 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. They produce stabilised aqueous suspensions which, are easy to mix and apply, have phased release patterns, are safer for the environment and the crops themselves.

The European Chemicals Agency (ECHA) has proposed an EU-wide restriction on the placing on the market or use of "intentionally-added" microplastic particles. The proposed restriction includes the use of microplastics for agricultural and horticultural purposes, including polymers utilized for controlled-release fertilizers, encapsulated plant protection products (PPPs), seed coatings, and biocides.

By 2025 in the EU, pesticides containing synthetic polymer microplastics are likely to be banned and removed from the market. The only acceptable alternative is the substitution with biodegradable formulations. Reformulated products will need to be evaluated and registered within the five-year transition period.

Sustaine is one of the only viable, proven and immediately registerable solutions to the microplastics problem in formulations requiring encapsulation.

Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Sustaine provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.

Eden is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.

The Company has a number of patents and a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of 14m in developing and protecting its intellectual property and seeking regulatory approval for products that rely upon the Company's technologies. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, gaining regulatory approvals, identifying suitable industrial partners, and entering into commercial agreements. 

In May 2013, the three actives that comprise Eden's first commercial product, Mevalone, were approved as new ingredients for use in plant protection products by the European Commission ("EC"). This represented a major milestone in the commercialisation of Eden's technology and is a significant accomplishment for any company.  To illustrate this point, one should note that in 2013, Eden's approvals represented 3 of only 10 new active ingredients approved by the EC.

Mevalone is a foliar fungicide which has been authorised for sale in KenyaMaltaGreeceBulgaria, SpainItalyFranceCyprusAlbaniaPortugal and Macedonia.

Cedroz is a nematicide which has been authorised for sale in Malta, Belgium and Mexico.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.

 


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Quick facts: Eden Research PLC

Price: 8.5

Market: AIM
Market Cap: £32.33 m
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