Eden News

Eden Research plc (AIM: EDEN), the AIM listed natural micro-encapsulation company, announces that it has raised £750,000 before expenses through a placing of 10 million new ordinary shares of 1p each at a price of 7.5p per ordinary share ("the Placing").

The Placing is to provide additional working capital to fund the Company's commercialisation of its suite of products using plant terpenes and its proprietary encapsulation technology.

Application will be made for the new ordinary shares to be admitted to AIM and it is expected that admission will take place and trading in the new ordinary shares will commence on 28 November 2014.

Tom Lupton, Chairman and Ken Brooks, deputy Chairman, are participating in the Placing through the subscription by each of them of 333,333 new ordinary shares at the Placing price.

The directors (apart from Tom Lupton and Ken Brooks) having consulted with WH Ireland, confirm their opinion that the terms of the transaction are fair and reasonable insofar its shareholders are concerned.

Notes:

Eden is an early stage revenue company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions to the global agrochemicals industry, the animal health industry, and consumer products.

Eden's encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with hydrophobic compounds both natural and synthetic. The technology uses yeast cells to deliver a slow release of natural compounds for agricultural and non-agricultural uses. Terpenes are already widely used in the food flavouring, cosmetic and pharmaceutical industries.

Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Eden's platform encapsulation technology provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.

With leading consultants in their respective fields, the Company is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.

The Company has a number of patents and has a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of £12m in developing and protecting its intellectual property. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, identifying suitable industrial partners and entering into licence agreements.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.

For more information about Eden, please visit www.edenresearch.com

Eden Research plc (AIM: EDEN), the AIM listed natural micro-encapsulation company, announces its interim results for the six months ended 30 June 2014.

Operational highlights

• Data Access Licence and Royalty Agreement signed with Daymsa
• First commercial launch of products using Eden's GO-E™ technology in the biocides sector
• Three further grants of patents strengthening Eden's Intellectual Property portfolio
• Confirmation of Completeness-Check for dossier submitted to gain approval for lead plant protection product, 3AEY, using the Company's three EU approved active substances

Financial highlights

• Revenue for the period of £0.02m (H1 2013: £0.05m
• Operating Loss for the period, excluding amortization and share based payments, of £0.55m (H1 2013: £0.4m)Administrative expenses £0.57m (H1 2013: £0.45m)
• Cash at bank £0.08m (H1 2013: £0.40m)

Tom Lupton, Non-executive Chairman, said:

"The Operational Highlights above show the traction that Eden is rapidly gaining as it heads towards significant commercialization of products using its proprietary GO-E technology. As part of this progress, I am pleased to reiterate that, since the reporting period, Eden has strengthened its management team with the appointment of Sean Smith as Chief Executive Officer. Sean's experience in intellectual property, speciality chemicals and industrial biotechnology will, I believe, be very valuable to Eden as it advances into its next commercial phase.

"In addition to Sean's appointment, since the half year Eden announced that it has signed an exclusive evaluation agreement with Belgian speciality chemicals company Taminco BVBA for our nematicide product "B2Y". This is a potentially significant deal for Eden and is the first of a number of commercial arrangements which Eden expects to announce in the second half of 2014 in addition to news on the first EU approval of 3AEY, which will pave the way to further contractual milestone payments and royalties."

Eden Research plc (AIM: EDEN), the AIM listed natural micro-encapsulation company, announces that its Greece based licence partner, Redestos S.A ('Redestos'), has carried out successful pre-launch trials on grapes using Eden's plant protection product, 3AEY, which uses low-risk active ingredients and Eden's natural encapsulation technology, GO-E Inside™, to combat botrytis, a fungus that affects many plants and is a major concern for grape producers and vineyards.

The trials have been carried out in advance of completion of the EU regulatory process which is expected in spring 2015, and mark the early stages of preparation for commercial launch in Greece and sales of products containing Eden's active ingredients and technology. The work reinforces the results seen in Eden's regulatory trials across the southern Mediterranean zone where 3AEY showed comparable disease control to conventional synthetic products.

Eden entered into a Licence Agreement with Redestos in 2006 to develop and commercialise agricultural products to treat botrytis in grapes which will be sold in Greece and the Balkan states. The results of the trials have shown that the product is effective against botrytis, including when infestation has already occurred, and that it did not cause any phytotoxicity issue, i.e. the discolouring of the grapes.

Sean Smith, Chief Executive Officer of Eden, said: "We are delighted that our technology has stood up to the rigorous testing that our partners in Greece have subjected it to and that testing is taking place now, ahead of the completion of EU regulatory approval for our product, 3AEY, as this will allow Redestos to move to commercial launch shortly after we receive final approval."

Eden Research plc (AIM: EDEN), the AIM listed natural micro-encapsulation company, announces that the Norwegian Patent Office has formally granted a patent (number 334975) for its platform encapsulation technology.

The Patent, number 334975, which expires in 2025, relates specifically to "compositions containing a hollow glucan particle or a cell wall particle encapsulating a terpene component, methods of making and using them."

The patent is owned outright by Eden and is already granted elsewhere in Europe and also New Zealand, Australia, China, Mexico, Singapore, the Philippines, South Africa and across a number of designated African states covered by the African Regional Intellectual Property Organisation (ARIPO).

Sean Smith, Chief Executive Officer, said: “I am pleased to report that Eden has successfully secured the patent in Norway which further strengthens our growing intellectual property portfolio. Every time a patent is granted for Eden, the inherent value of the business increases while at the same time it validates the technologies and, therefore, products that Eden has to offer. This is why events such as these are important to the success of the Company and its licensees and also valuable to shareholders.”

Notes:

Eden is an early stage revenue company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions to the global agrochemicals industry, the animal health industry, and consumer products.

Eden’s encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with both natural and synthetic hydrophobic compounds. The technology uses yeast cells that are a by-product of numerous commercial production processes to deliver a slow release of natural compounds for agricultural and non-agricultural uses. Terpenes are already widely used in the food flavouring, cosmetic and pharmaceutical industries.

Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Eden’s platform encapsulation technology provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.

With leading consultants in their respective fields, the Company is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.

The Company has a number of patents and a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of £12m in developing and protecting its intellectual property and seeking regulatory approval for products that rely upon the Company’s technologies. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, gaining regulatory approvals, identifying suitable industrial partners, and entering into licence agreements. 

In May of 2013, the three actives that comprise Eden’s first commercial product, 3AEY, were approved as new ingredients for use in plant protection products.  This represents a major milestone in the commercialisation of Eden’s technology and is a significant accomplishment for any company.  To illustrate this point, one should note that in all of 2013, Eden’s approvals represented 3 of only 10 new active ingredients approved by the EC.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.

For more information about Eden, please visit www.edenresearch.com 

Eden Research plc (AIM: EDEN), the AIM listed natural micro-encapsulation company, announces the appointment of Sean M. Smith as Chief Executive Officer of Eden, with effect from 1 September 2014. At the same time, Ken Brooks, currently Executive Deputy Chairman will become Non-Executive Director and Clive Newitt, Managing Director, will become Business Development Director.

Mr Smith has extensive experience as an international business leader with a record of success and career progression over 25 years within large corporate and start-up environments. Mr Smith joins Eden Research from Intellectual Ventures having been Head of Europe, Innovation Advisor within its Invention Development Fund. Intellectual Ventures collaborates with leading inventors, partners with pioneering companies and invests both expertise and capital in the process of invention. Sean was responsible for the Invention Development Fund's efforts in Europe and secured deals across multiple channels and technology areas.

Between January 2012 and December 2013, Mr Smith was CEO for MatOx Group, a group of companies that develop and commercialise new materials technologies. During his time at MatOx, Mr Smith secured multiple high-value, long term technology commercialisation contracts, secured substantial non-dilutive funding commitments and agreed terms for the investment of up to €1.65m from US and European private equity and venture capital investors.

Mr Smith has an in-depth knowledge of the speciality chemical and biotechnology sectors Eden works in having led life sciences technology commercialisation at Bath Ventures (The University of Bath) and previously leading Ciba's business development activities in the area of bioprotection. He obtained his Bachelor of Arts (Honours) degree from the University of Kansas in Microbiology.

Tom Lupton, Non-Executive Chairman of Eden Research, said: "The restructuring of the Board and Sean's appointment as Chief Executive comes at a key inflection point for the business. In recent months we have seen the products using Eden's GO-E™ technology sold to customers for the first time and with the huge progress that has been made in gaining EU approval for the first plant protection products using our key active substances, Eden is poised to become a commercially active business with a wide range of revenue streams.

"We know we still have more to do and the opportunities available for our natural encapsulation GO-E™ technology are numerous. It is with great confidence that we look forward to taking advantage of these opportunities and benefitting from Sean's wealth of experience in leadership, corporate development, project management, as well as intellectual property licensing."

Additional information:

Mr Sean Michael Smith, aged 47, is currently a director, or has held directorships at the following companies during the previous five years:

Mr Smith holds no shares in Eden Research Plc, but as part of his remuneration package has been granted the following conditional shares options:

At any point after the first six months' service Mr Smith will also be entitled to share options over a further 1,000,000 shares at three times the opening offer price on 1 September 2014.

The options will be valid for three years while Mr Smith remains in Eden's employment or for three months after leaving Eden's employment (after the six month probation period has been satisfactorily completed).

There is no further information to be disclosed under Schedule 2(g) and Rule 17 of the AIM rules in respect of Mr Smith's appointment as Chief Executive Officer.

Directors' Share Options

The share options below, which lapsed on 19 May 2014, have been reinstated with effect from the 14 August 2014 at an exercise price of 10 pence and with an expiry date of 19 May 2019.

The grant of share options to directors is a related party transaction. The Directors who include the Chairman (who is not participating in the transaction and who chairs the Remuneration Committee) have consulted with the Company's Nominated Adviser, W H Ireland Ltd, and having done so, consider the transaction to be fair and reasonable and in the interests of shareholders.

Notes:

Eden is an early stage revenue company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions to the global agrochemicals industry, the animal health industry, and consumer products.

Eden's encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with hydrophobic compounds both natural and synthetic. The technology uses yeast cells to deliver a slow release of natural compounds for agricultural and non-agricultural uses. Terpenes are already widely used in the food flavouring, cosmetic and pharmaceutical industries.

Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Eden's platform encapsulation technology provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.

With leading consultants in their respective fields, the Company is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.

The Company has a number of patents and has a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of £12m in developing and protecting its intellectual property. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, identifying suitable industrial partners and entering into licence agreements.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.

For more information about Eden, please visit www.edenresearch.com 

Eden Research plc (AIM: EDEN), the AIM listed natural micro-encapsulation company, announces that it has signed an exclusive evaluation agreement ("Agreement") with Belgian speciality chemicals expert, Taminco BVBA ("Taminco").

The Agreement grants Taminco the right to evaluate Eden's nematicide product for crop protection uses until 31 December 2014. It is anticipated, in case of a successful evaluation and if a profitable business case can be made, that Eden and Taminco will negotiate a global licensing arrangement to allow the commercialisation of the nematicide product which is expected to use Eden's active ingredients and GO-E Inside™, Eden's natural encapsulation technology.

Clive Newitt, Managing Director of Eden, said: "The market for nematicides is worth around $1 billion per year at grower level and, in recent years, has seen a significant number of effective products being removed from sale due to their risk  profiles. Eden has created an effective, natural alternative to replace some of these products' uses which we believe Taminco will be able to commercialise alongside their existing soil fumigant business in order to fully exploit this opportunity."

Notes:

Eden is an early stage revenue company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions to the global agrochemicals industry, the animal health industry, and consumer products.

Eden's encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with hydrophobic compounds both natural and synthetic. The technology uses yeast cells to deliver a slow release of natural compounds for agricultural and non-agricultural uses. Terpenes are already widely used in the food flavouring, cosmetic and pharmaceutical industries.

Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Eden's platform encapsulation technology provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.

With leading consultants in their respective fields, the Company is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.

The Company has a number of patents and has a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of £12m in developing and protecting its intellectual property. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, identifying suitable industrial partners and entering into licence agreements.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.

For more information about Eden, please visit www.edenresearch.com

This document contains statements that may constitute forward-looking statements. A variety of factors, many of which are beyond Taminco's or Eden's control could cause the actual developments to be materially different from any developments that may be expressed or implied by such forward-looking statements.

Taminco and Eden neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.

Eden Research plc (AIM: EDEN), the AIM listed natural micro-encapsulation company, announces that it has received a Notice of Decision of Patent Registration from the Korean Patent Office for its patent covering the use of its GO-E Inside™ encapsulation technology in the treatment of mites.

The patent covers the Company's core technology, specifically "A method of killing mites which infest plants, said method comprising the step of administering to said mites in an effective dose a composition comprising a hollow glucan particle or cell wall particle encapsulating a terpene component, wherein the terpene component comprises citral alone or a combination of eugenol, thymol and citral."

Clive Newitt, Managing Director of Eden comments: "The patent coverage in South Korea follows the Mexican patent that was awarded back in May, and is another extension of our valuable portfolio of patent protection globally. We are delighted to move into South Korea as it is a large market for us to penetrate with a number of interesting opportunities particular in the area of fungicides for agricultural use, which is worth over US $200m in South Korea alone focussing on produce such as rice, and key fruit and vegetables. This patent brings the total number of granted patents for Eden to 46."

Notes:

Eden is an early stage revenue company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions to the global agrochemicals industry, the animal health industry, and consumer products.

Eden's encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with hydrophobic compounds both natural and synthetic. The technology uses yeast cells to deliver a slow release of natural compounds for agricultural and non-agricultural uses. Terpenes are already widely used in the food flavouring, cosmetic and pharmaceutical industries.

Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Eden's platform encapsulation technology provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.

With leading consultants in their respective fields, the Company is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.

The Company has a number of patents and has a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of £12m in developing and protecting its intellectual property. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, identifying suitable industrial partners and entering into licence agreements.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.

For more information about Eden, please visit www.edenresearch.com

Eden Research plc (AIM: EDEN), the AIM listed natural micro-encapsulation company, held its Annual General Meeting today at mid-day at The Four Pillars Hotel, Ducklington Lane, Witney OX28 4EX.

Following the formal proceedings of the meeting, at which all resolutions were duly passed, the Chairman, Tom Lupton, made the following statement:

"In the recently published 2013 Eden Report and Accounts, I gave shareholders a detailed update of the Company's development and trading position. I do not propose to repeat this at great length, however I would like to highlight certain key points which I feel, show that Eden is developing into a commercially successful business.

3AEY

"EU approval for the active substances in our first plant protection product, the terpene based fungicide 3AEY, was granted in May 2013 and we expect to complete the EU regulatory process this year. This means that we are less than a year away from 'off the shelf' products being approved. This will allow sales of 3AEY to begin through our licensing partners and, we hope, will provide sustained long term revenues.

Encapsulation

"Eden has branded its unique, natural encapsulation technology as GO-E Inside™, which will enable us to build brand recognition and form a basis for all future products developed by Eden and its partners. The first sales of products using GO-E Inside™ have been made by our licensee, TerpeneTech Limited. This is clearly a significant milestone and will result in royalties being paid to Eden.

Outlook

"The short-term picture is that of increasing revenues and deal flow. The Board plans to reorganise the business to maximise the value of our intellectual property portfolio. This will give Eden a clearer focus and allow us to strengthen the management team to address the challenges faced in the wide range of sectors where our encapsulation technology may be utilised.

"From what I have said to you here, as well as in the Chairman's Report, you will hopefully see that there is a lot happening at Eden. Our aim is to make Eden a leader in natural encapsulation technologies and for GO-E Inside™ to become a globally recognised brand. I believe that we now have a very firm foundation upon which to achieve this."

Notes:

Eden is an early stage revenue company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions to the global agrochemicals industry, the animal health industry, and consumer products.

Eden's encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with hydrophobic compounds both natural and synthetic. The technology uses yeast cells to deliver a slow release of natural compounds for agricultural and non-agricultural uses. Terpenes are already widely used in the food flavouring, cosmetic and pharmaceutical industries.

Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Eden's platform encapsulation technology provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.

With leading consultants in their respective fields, the Company is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.

The Company has a number of patents and has a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of £12m in developing and protecting its intellectual property. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, identifying suitable industrial partners and entering into licence agreements.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.

For more information about Eden, please visit www.edenresearch.com

Eden Research plc (AIM: EDEN), the AIM listed natural micro-encapsulation company, confirms that the Annual Report and Accounts for the year ended 31 December 2013 ("2013 Annual Report and Accounts"), the Notice of the Annual General Meeting ("AGM") and a Form of Proxy were posted to shareholders on 4 June 2014.

The AGM is to be held at 12 noon on 26 June 2014 at The Four Pillars Hotel, Ducklington Lane, Witney OX28 4EX.

A copy of the 2013 Annual Report and Accounts and other documents are available on the Company's website.

Notice of AGM to be held on 26 June 2014

Proxy Form for 2014 AGM to be held on 26 June 2014

Notes:

Eden is an early stage revenue company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions to the global agrochemicals industry, the animal health industry, and consumer products.

Eden's encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with hydrophobic compounds both natural and synthetic. The technology uses yeast cells to deliver a slow release of natural compounds for agricultural and non-agricultural uses. Terpenes are already widely used in the food flavouring, cosmetic and pharmaceutical industries.

Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Eden's platform encapsulation technology provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.

With leading consultants in their respective fields, the Company is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.

The Company has a number of patents and has a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of £12m in developing and protecting its intellectual property. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, identifying suitable industrial partners and entering into licence agreements.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.

For more information about Eden, please visit www.edenresearch.com

Eden Research plc (AIM: EDEN), the AIM listed natural micro-encapsulation company, announces its unaudited preliminary results for the year ended 31 December 2013. In the year the Company has met key milestones as part of its evolution from a research and development company to a commercial business.

Financial highlights

• Revenue of £0.08m (2012: £0.04m)
• Operating loss of £1.58m (2012: £1.60m)
• Loss before tax reduced to £1.63m (2012: £2.28m) - significant reduction in finance costs
• Loss per share of 1.30p (2012: 2.11p loss)
• Cash in bank of £0.31m (2012: £0.34m)

Operational highlights

• Major milestone achieved with EU approval of three active substances used in 3AEY
  • First country approval expected by end 2014, with remaining countries in Spring 2015
  • Product approvals advancing in line with expectations
  • Additional revenues through access to regulatory data and dossiers
  •  
• Development of products in human health, cosmetics, flavours & fragrances, and animal health
• Proprietary technology rebranded as GO-E™ to maximise exploitation of IP base
• Exclusive, worldwide licence agreement with Neo-Pharma Innovations Ltd for head-lice product
• IP protection expanded with further patent grants

Post period end

• Sir Ben Gill, Non-Executive Chairman passed away on 8 May 2014
• Tom Lupton appointed as Non-Executive Chairman on 19 May 2014
• First products using Eden's encapsulation technology launched by TerpeneTech in France

Commenting on outlook, Tom Lupton, Chairman said: "With the significant EU regulatory hurdle having been surmounted, national product approvals just around the corner and product sales already underway, I am very optimistic that Eden has a bright future and that all of the hard work and significant investment is now coming to fruition.

"The Board is confident that it will be able to deliver against the shareholders' high expectations. In addition to new licence agreements being signed and royalties being received within the next twelve months, it is the Board's intention to re-organise the business so as to further protect its IP and maximise shareholder value from each business sector where GO-E™ is applicable.

"This, we believe, will clarify Eden's valuable business proposition to investors and also strategically place Eden in the sights of larger companies who are interested in adopting our various technologies for their particular market sector."