logo-loader

Eden Research performing strongly and looking to build on commercial traction

Last updated: 21:03 29 Jan 2024 GMT, First published: 13:26 03 Nov 2023 GMT

Snapshot

  • Eden Research says it expects 'step up' in activity after strong end to 2023
  • Eden Research’s killer app
  • Eden Research up 7% after trading statement; broker repeats 20p price target
  • Sustainable Agriculture: Eden Research CEO Reveals Global Expansion Plans and Launch in California
Eden Research plc - Eden Research PLC

About the company

Eden Research PLC is the UK’s only AIM listed company focused on biopesticides for sustainable agriculture.

It develops and supplies innovative biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries.

Eden’s focus is on sustainably protecting high-value crops, improving crop yields and marketability.

The company's products, two of which are now commercially available, are based upon natural plant chemistry but deliver performance, ease of use, and cost on par with conventional alternatives.

How it is doing

22 Jan 2024

Sustainable biopesticides specialist Eden Research PLC (AIM:EDEN, OTCQB:EDNSF) said it is expecting a 'step up' in commercial activity this year after it revealed its performance in 2023 was ahead of expectations.

Revenue of £3.1 million was up 72% year-on-year and 11% ahead of forecast, while the projected underlying (EBITDA) loss of £1.2% was 37% lower than expected.

Eden exited the year with £7.4 million in the bank (after securing successful £9.9 million of new investment) and having secured its first commercial sales of Ecovelex, its bird repellent being marketed by agri-giant Corteva.

Earlier this month, it was given the green light by California regulators for Mevalone, a biofungicide used to protect the grape harvest, which will add to the company's commercial momentum.

09 Jan 2024

Eden Research PLC (AIM:EDEN, OTCQB:EDNSF)’s regulatory approval of its biofungicide product Mevalone in the state of California amounts to a “significant milestone” for the sustainable agriculture group, according to Cavendish analysts.

This development is particularly notable given California's prominence in wine production, where Mevalone's target disease, botrytis, is a common concern.

09 Jan 2024

Eden Research PLC (AIM:EDEN, OTCQB:EDNSF), a company specialising in sustainable biopesticides and plastic-free formulation technology, has received regulatory approval in California for Mevalone, its biofungicide targeting botrytis in grapes.

This marks a significant milestone, considering California's status as a major wine producer, with regions like Napa Valley contributing to 84% of US wine production in 2021. The marketing of Mevalone has begun in partnership with Sipcam Agro USA for the current growing season.

Insight: Eden Research’s killer app

19 May 2023

Eden Research PLC (AIM:EDEN, OTCQB:EDNSF) has been on a roll this year.

Its flagship biopesticide products Mevalone and Cedroz have gained regulatory approvals left, right and centre, gaining access to new European markets including Greece, Poland and Italy.

What the brokers say

22 Jan 2024

Share in Eden Research PLC (AIM:EDEN, OTCQB:EDNSF) were up 7% in afternoon trading after the green biopesticides group delivered a better-than-expected financial performance as part of a broader progress report.

In the wake of the update, Cavendish, the company's broker repeated its 20p share price target, which represents a 233% premium to the current stock price. 

In a note to clients, it said: "Ongoing, positive news flow has demonstrated the progress Eden Research is making.

What management says

29 Jan 2024

Eden Research CEO Sean Smith joined Steve Darling from Proactive to discuss the company's focus on sustainable pesticides for professional agriculture and horticulture. Eden Research is listed on the AIM market and is committed to providing effective, plastic-free pesticides using natural chemistry. Eden Research's flagship product is a natural fungicide designed to address challenges faced by grape growers globally.

This sustainable solution aligns with the growing demand for environmentally friendly crop protection. The company has obtained regulatory approval for sales in the United States, with a particular focus on California, the largest grape producer in the country. This expansion into the US market represents a significant growth opportunity for Eden Research.

Smith told Proactive Eden Research has formed partnerships with industry leaders and is expanding its presence in key countries, including France. The company's global growth strategy aims to provide sustainable pest control solutions to a wide range of agricultural markets. The interview underscores the importance of sustainability in the agriculture industry and highlights Eden Research's position as a provider of eco-friendly solutions. As the company enters the US market and continues its expansion efforts, 2024 is expected to be a crucial year for Eden Research's commercial success and global market

Sustainable Agriculture: Eden Research CEO Reveals Global Expansion Plans...

Eden Research CEO Sean Smith joined Steve Darling from Proactive to discuss the company's focus on sustainable pesticides for professional agriculture and horticulture. Eden Research is listed on the AIM market and is committed to providing effective, plastic-free pesticides using natural...

on 29/1/24