Eden Research, an AIM-listed company specializing in sustainable biopesticides and plastic-free casting technology for use in the global crop protection, animal health and consumer products industries, announced that it has received regulatory approval from the United States Environmental Protection Agency. (EPA) for all five petitions covering the company’s three active ingredients (eugenol, geraniol and thymol) and two synthetic products (Mevalon and Cedrose).
Eden products and active ingredients The EPA approval opens up significant revenue opportunities for Eden, with a total market potential of €94m for Mevalon and €189m for Cedrose. Additionally, the Board expects that, ultimately, Eden’s developmental insecticide registration will follow a shorter timeline because it is based on currently approved active ingredients. Eden will follow the registration of this new product over time based on the results of the field trials. The insect’s total market capitalization is €237m.
American farmers spend hundreds of millions of dollars each year on products that protect their crops from disease and pests in lost yields, food waste, and inefficient production. Pesticides account for the largest share of total expenditure on crop inputs. However, regulators around the world have banned an increasing number of common chemical pesticides in recent years, and farmers need suitable alternatives to meet the growing demand for food production. As a result, biopesticides such as Eden Cedrose and Mevalon are turning to biopesticides that are based on natural ingredients and are sustainable without compromising efficacy, safety, yield and production costs.
Coastal and southern states such as California and Florida will be the primary focus for Eden products use given the expansion of high value vegetable crops. Marketing of the products will begin as soon as possible, subject to state-level regulatory approval in these regions, which is expected in the coming months. Given current state-level approvals, meaningful sales are expected to begin in 2023 after several years of preparations for production launch.
Eden Research CEO Shane Smith commented: “Eden has been at the forefront of accelerating change in the sustainable agricultural input market for many years, and our US license marks the next phase of this journey, significantly expanding our reach to include the second largest food market in the world. . As a small but innovative UK business, Eden is proud of the impact it has on a global scale.
Despite our size, we partner with the largest global players in the crop protection industry and export our pioneering products and technologies to Europe, Africa, Australia and North America. EPA permits are the result of more than four years of effort by our experienced regulatory, development and commercial teams who have worked tirelessly to address Eden’s extensive and evolving list of stringent requirements. We are one of very few British crop protection companies to have received approval for multiple biopesticides in the US, and we believe we are the smallest company to achieve the ambitious goal of registering three active ingredients and two combination products at the same time, thereby opening one. The most important world markets for agricultural inputs.
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