Join our daily newsletter At The Bell to receive exclusive market insights
- Eden Innovations (EDE) has provided an update on its U.S. business, Eden Innovations LLC (Eden U.S.) and the impacts of COVID-19
- Eden is pleased to report that all employees and their families are healthy and safe
- Georgia Ports (GA ports) has recently started using EdenCrete and will use the mixture to supply concrete for installation at a Georgia port
- EdenCrete is a concrete additive, used to create stronger and long-lasting concrete
- The decision to add EdenCrete into the concrete came after just 63-days in a 90-day trial
- Additionally, Eden’s US$634,000 (around A$986,000) USA CARES loan has been approved and will help the company keep its employees on board
- Eden is up 11.1 per cent on the market today, trading for 4¢ per share at 11:05 am
Eden Innovations (EDE) has provided an update on its U.S. business, Eden Innovations LLC (Eden U.S.) and the impacts of COVID-19.
Eden says companies around the world are feeling the impact of COVID-19 and are struggling during this pandemic.
As a result, the company has introduced measures to ensure the health and safety of its employees and is pleased to report that all employees and their families are healthy and safe.
Eden creates EdenCrete, a carbon-strengthened concrete additive which creates more long-lasting and durable concrete.
Georgia Ports uses Eden Crete for the first time
Georgia Ports (GA ports) began trialling EdenCrete in February and will use the mixture to supply concrete for installation at a Georgia port.
This decision occurred just 63 days into GA Ports’ 90-day field trial, which commenced on February 5, 2020.
Work on the project will use US$25,000 (nearly A$39,000) worth of EdenCrete, and is scheduled to commence in the third quarter of 2020.
Eden says this is a “massive breakthrough” into the ports and marine market, especially during this difficult time.
U.S. Government help loan
Eden U.S. was eligible to apply to the USA CARES loan of approximately US$634,000 (around A$986,000). This loan will be able to assist companies to keep staff on board, rather than put them on leave or terminate contracts.
Last Friday, the company’s application was approved. Eden says further details of the loan will be announced in the near future.
Growing sales team
Despite this pandemic and the challenges it represents, Eden continues to grow its sales team. Recently, the company employed two more manufacture representatives.
“By adding these reps, we are further priming the pump for our success as the pandemic eases and companies get back to regular business,” Eden told the market.
“While many companies involved in infrastructure are continuing their essential jobs, just as Eden U.S. is, the start of new trials or product evaluations has been slowed significantly,” it added.
Eden is up 11.1 per cent on the market today, trading for 4¢ per share at 11:05 am AEST.
