United Kingdom
January 8, 2020
Eden Research plc (AIM: EDEN), the AIM listed company that develops and supplies breakthrough biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries, is pleased to announce that it has signed a one year exclusive Evaluation Agreement ("Agreement") with Corteva Agriscience ("Corteva").
This agreement will allow Corteva time to evaluate Eden's Sustaineä encapsulation technology and several formulations in specific biological seed treatment applications in certain major territories and, if successful, will lead to Corteva being granted exclusive distribution rights.
Agreement highlights:
· One year exclusive Evaluation Agreement signed with Corteva (NYSE: CTVA), the fourth largest agriculture input company in the world.
· This will be the first use of Eden's products and technology in the treatment of seeds.
· Corteva will have until the end of 2020 for the exclusive evaluation of products which use SustaineTM in select seed treatment applications.
· If successful, the agreement will then lead to Corteva being granted exclusive distribution rights in the EU, Russia, Ukraine and Turkey.
Corteva (NYSE: CTVA) is the fourth largest agriculture input company in the world and is a publicly traded, pure-play agriculture company. It was created by combining the best of DuPont Crop Protection, DuPont Pioneer seeds and Dow AgroSciences. Pioneer is a global leader in seeds for a wide range of crops.
Corteva will have until the end of 2020 for the exclusive evaluation of products which use SustaineTM in select seed treatment applications. Following this Corteva may enter into an exclusive agreement for the distribution of products in the EU, Russia, Ukraine and Turkey. This represents a major milestone for Eden as it will be the first use of Eden's products and technology in the treatment of seeds and is an initial step into this area across a range of functional uses and seed types.
SustaineTM microcapsules are naturally sourced, plastic-free, biodegradable micro-spheres derived from yeast. The Sustaine technology has enabled the safe and effective use of Eden's registered active ingredients and those of third parties by improving bioactivity, controlling volatility and improving crop safety.
Sean Smith, Chief Executive Officer of Eden, said: "The potential use of Eden's active ingredents and Sustaine formulation technology in seed treatments has been understood by Eden for some time, but this is the first opportunity on a major scale where we have partnered with a company to develop fully and commercialise a product using Sustaine in this new application area.
"We are very pleased to be partnering with Corteva who, aside from being one of the largest agriculture input companies in the world, is particularly well known for its expertise in the area of seeds and seed treatments. This Agreement follows positive initial field trials which Corteva undertook during 2019 and so this next stage represents a great step forward in our working partnership."
Andre Negreiros, Seed Applied Technologies Leader, Europe, for Corteva Agriscience, said: "We are excited to be working with Eden to offer farmers complete solutions with an environmentally favourable profile. As a company committed to sustainability, we are pleased to be using the Sustaine™ formulation technology to help solve the microplastics problem in line with consumer expectations.
"This collaboration reflects Corteva Agriscience's approach to open innovation, leveraging collaborations around the world to pursue innovations that enhance growers' productivity, environmental sustainability, and keep growing what matters - now and for generations to come."
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