Business
Appointment of Distribution Partner in Kenya
Appointment of Distribution Partner in Kenya.
About this update from Eden Research Plc
[{"type":"text","content":"\n\nThe information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the \"UK MAR\") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \n24 March 2025\n \n\n \nEden Research plc\n(\"Eden\" or \"the Company\")\n \n \nAppointment of Distribution Partner in Kenya\n \n \nEden Research plc (AIM: EDEN), a leader in sustainable biopesticide and biocontrol technology, is pleased to announce the appointment of Andermatt Kenya Limited (\"Andermatt\") as the Company's exclusive distribution partner for Mevalone® in Kenya. Mevalone is Eden's flagship biofungicide developed to prevent and treat outbreaks of fungal pathogens on high-value crops, initially targeting Botrytis cinerea, but with an ever-widening list of disease targets. Mevalone is formulated using Eden's proprietary natural terpene chemistry and yeast-based microencapsulation technology.\n \nThe appointment of Andermatt is a result of the Company's commercial drive to increase sales of Mevalone in Kenya, where it already has regulatory approval. With a diverse agricultural sector producing a vast array of high-value fruits, vegetables, and ornamental crops, Kenya represents a significant opportunity for Mevalone to be applied to a multitude of crops. The Company already has regulatory approval for several of these uses in place and intends to apply to broaden the label, ultimately further enlarging the addressable market.\n \nFood items and agricultural raw materials constitute over half of Kenya's exports, with exports of fruits, vegetables, and cut flowers generating earnings of approximately $2.7 billion in 2022. Cut flowers made up approximately 8% of Kenya's exports in 2023. Moreover, the Horn of Africa has unpredictable weather conditions, and during times of unseasonably high rainfall, outbreaks of fungal diseases such as Botrytis cinerea are regular occurrences.\n \nAndermatt Kenya, a subsidiary of the Swiss-based Andermatt Group, a gl...