Shares in Eden Research PLC (AIM:EDEN, OTCQB:EDNSF) flourished to around an 18-month high on Thursday morning, up 32% to 8.8p, after the sustainable biopesticides group revealed a new South American distributor deal.
Anasac will be the exclusive distributor for its Mevalone biopesticide in Colombia ahead of pending regulatory application that could allow the product to be used to treat ornamental plants for common fungal infection Botrytis cinerea.
Colombia is the world's second-largest exporter of cut flowers.
Eden said it expects this regulatory green light to be "the first of many to come in Colombia" as it seeks to expand the number of applications on which Mevalone can be used to other crops and diseases.
As well as operating in Colombia, distributor Anasac is based in Chile and also delivers across 18 other South and Central American countries, as well as Mexico.