Why the Eden Innovations Ltd share price is higher today

It has been a positive start to the week for the Eden Innovations Ltd (ASX: EDE) share price.

In morning trade the clean energy company’s shares are up over 3% to 21.7 cents.

Eden Innovations’ shares climbed higher today after it announced that it has received approval from the North Carolina Department of Transportation for the use of EdenCrete in concrete.

In light of this, the proprietary carbon-strengthened concrete additive has been added to the department’s approved products list.

This now means that EdenCrete has been approved for use in one or more applications by the Departments of Transportation in seven U.S. States. These include North Carolina, Mississippi, Arkansas, Tennessee, Virginia, Texas, and Georgia.

Moving forward management intends to progressively increase the number of States where EdenCrete is approved for use, as well as expand its use into other applications.

The share price of major shareholder Tasman Resources Ltd (ASX: TAS) has also climbed higher on the news.

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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