Eden Research PLC (AIM:EDEN, OTCQB:EDNSF) CEO Sean Smith speaks to Thomas Warner from Proactive after the sustainable biopesticide company announced it has received regulatory approval in California for Mevalone, its biofungicide targeting botrytis in grapes.
Smith explains that the state-level approval follows a previous national authorisation from the EPA, before going on to highlight California's importance as the largest wine producer in the U.S. Eden's commercial partner for Mevalone in the US, Sipcam Agro, will be responsible for marketing and distributing Mevalone.
While 2024 is a launch year for Mevalone in the US, Smith maintains a conservative forecast, expecting peak volumes to be reached in three to four years. Smith goes on to say that Eden Research's global operations, particularly in Europe, remain its key focus.
The company anticipates further growth with the introduction of their new product, Ecovelex and potential emergency authorisations across Europe.
Despite the unpredictable nature of agriculture, Smith says he's "very optimistic about how 2024 will look", expecting strong performance and continued expansion in both the U.S. and European markets.