Eden Research PLC (AIM:EDEN, OTCQB:EDNSF), the AIM-quoted company focused on biopesticides for sustainable agriculture, has received regulatory approval from the United States Environmental Protection Agency (EPA) for the company's three active ingredients (eugenol, geraniol and thymol) and two formulated products (Mevalone and Cedroz).
The EPA approval of Eden's products and active ingredients will open significant revenue opportunities, with total market potential of approximately €94mlm (£84.9mln) for Mevalone and €189m for Cedroz, the company said in a statement.
The board now expects the registration of Eden's developmental insecticide (total market potential €237mln) to follow a shortened timeline as it is based upon the now-approved active ingredients.
Chief executive officer Sean Smith commented: "Eden has been at the forefront of accelerating change in the sustainable agricultural input market for several years, and our authorisations in the US marks the next milestone in this journey, significantly expanding our addressable market to include the second-largest food market in the world.”