Eden Research PLC (AIM:EDEN, OTCQB:EDNSF) shares leapt 11% as the natural pesticides group received state approval for products in California and Florida, two of the largest horticultural growing areas in the US.
Sean Smith, chief executive, said the two states were the most significant addressable markets in the US, where he estimates a total market size of approximately €94mln for grape treatment Mevalone and €189mln for nematodes preventative Cedroz.
Biopesticides are rapidly becoming the standard for farmers looking to adopt more environmentally friendly practices, Smith added.
With these latest two, Eden Research has now received approvals from nine US states in addition to numerous European countries.
Shares rose 0.45p to 4.7p.