Eden Research PLC (AIM:EDEN, OTCQB:EDNSF), an AIM-listed firm specialising in sustainable biopesticides and plastic-free formulation technologies, has confirmed its first commercial order for Ecovelex, a product designed to deter birds from crops.
Developed over three years, Ecovelex aims to supplant traditional chemicals currently under regulatory scrutiny in the EU and UK. The product addresses crop damage from birds, particularly impacting maize.
The application of Ecovelex this year is based on emergency use authorisation from specific nations making it difficult, in the short term at least, to anticipate demand for the product.
Following July's successful fundraising round, Eden has commenced Ecovelex production to meet this order. Shipping is projected for year-end, aligning with potential regulatory green lights and the 2024 cultivation season's seed treatment phase.
"I'm pleased to have received our first commercial order for Ecovelex and am pleased to report that production is underway here in the UK to fulfil the order," said chief executive Sean Smith.
"At this point in the year, and without visibility on emergency use authorisations, it is not possible to provide guidance on the overall potential financial impact of the Ecovelex sales, however, this order and initial production is clearly a positive step forward for maize growers and the company."