(NewsDirect)
Eden Research PLC CEO Sean Smith tellsProactive's Stephen Gunnion the company achieved significantadvancements and a robust performance in 2023.
Revenue for the year to 31 December 2023increased by 78% to £3.2 million, surpassing market expectations.This growth was attributed to strong sales across various productlines.
A noteworthy development wasa successful fundraising event that raised £9.9 million, enhancingthe firm's cash position and enabling further product development.
In partnership with CortevaAgriscience, Eden introduced Ecovelex, a new seed treatment productdesigned to repel birds from maize, marking a new category for thecompany. This product received temporary approval in Italy,facilitating its use in the 2024 growing season.
Additionally, Eden expanded its productrange to include an insecticide targeting pests like mites and aphids,which has undergone extensive field testing with over 140 trialsworldwide.
Regulatory approvals forMevalone were a significant focus, with expansions in the US includingcrucial approval in California, important for the grapevine fungicidemarket.
Looking forward, Smith said the company is optimistic about 2024, despite potential challengesfrom climate conditions and regulatory dependencies. Key futuredevelopments include ongoing product label expansions and regulatoryauthorisations, particularly in Europe.
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