Oxford's Eden Research receives regulatory approvals in California and Florida
Oxford-headquartered sustainable biopesticide and plastic-free formulation technology company Eden Research plc has received regulatory approvals for its Cedroz product in California, and its Mevalone and Cedroz products in Florida.
These approvals open up significant revenue opportunities for the company. The market potential in the US is approximately £81 million for Mevalone and £164 million for Cedroz.
Eden expects meaningful product sales to begin in time for the 2024 growing season and that peak market penetration will be achieved after three years in the US.
The biopesticide products, Cedroz and Mevalone, are specifically lucrative in California and Florida because of the prevalence of high-value horticultural crops in those states.
Mevalone has been approved in Florida for use on botrytis on table and wine grapes. Cedroz has been approved in both states for use in combatting nematodes, small worms that tend to target fruit and vegetables like cucumbers, tomatoes, strawberries, grapes, aubergines, and more.
Eden's application for regulatory approval in California is still in progress, with clearance expected to be received soon.
CEO of Eden Research plc Sean Smith said: "California and Florida are amongst the most significant addressable markets in the US considering their production of high value crops. These approvals represent another important step in Eden's expansion into the United States, the world's second largest food market. We look forward to sharing progress of our other applications in individual states from across the US in due course.
"As a small but innovative British business, we are proud of the impact that Eden can have on the global stage. Our pioneering products and technologies are receiving regulatory approval and being distributed by our partners across Europe, Africa and now North America, accelerating change in the sustainable agricultural space globally."
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