Eden Research (EDEN) , a sustainable biopesticide and plastic-free formulation technology company, has received its first commercial order for Ecovelex, a product designed to tackle crop destruction caused by birds.
Ecovelex™ is made to replace banned chemicals and utilises plant-derived chemistry and the Sustaine® microencapsulation system, offering a sustainable solution for farmers to meet consumer and regulatory demands.
Until full authorisation is received, the use of Ecovelex to treat seeds this year rests on certain countries granting emergency use authorisation. Production of Ecovelex is now underway to fulfil this initial order.
Sean Smith, Eden CEO, said: "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.
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."
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The news today builds upon Eden's announcement in July, applying for authorisation of Ecovelex in the UK, following an application in the EU shortly before.
The seed treatment market in Europe is projected to register a CAGR of 5.7% between 2023-2028, with the non-chemical or bio-based seed treatment growing at the fastest rate, due to the shift in preference for organic products. According to a 2022 report by the Research Institute of Organic Agriculture, in Europe, 17.1 million hectares were managed organically in 2020, up from a measly 1.4 million 30 years ago. Once regulatory approval for Ecovelex™ is received, Eden is in a strong position to capitalise on this market trend.
Among its other products on offer, Eden also has two commercialised eco-friendly crop protectors, Mevalone and Cedroz. These two products are also well-positioned, as growers are having to meet pressure on improving crop yields while also being conscious that high levels of pesticide residue are now a focus for the consumer.
Amid consumer concerns about pesticide residues on produce, governments worldwide are revisiting maximum residue levels (MRLs) for pesticides and bolstering residue testing capabilities. This is part of a broader initiative to ensure public health and safety while promoting transparency in the agricultural sector.
As a result of the increased transparency over farming practices and enforcement of MRLs in recent years, consumers have become more aware of the use of crop production products and have continued to demand produce that is free from pesticide residues. Consequently, the EU has pledged to reduce the use of synthetic pesticides by 50% by 2030. Such EU regulations are likely to remain in place and become law in the UK as well.
Having now received its first order for Ecovelex, Eden Research looks set to solidify its position in the market and offer a viable, eco-friendly alternative for growers looking for sustainable agricultural solutions.
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