Marrone Bio Innovations, Inc. (NASDAQ: MBII) (MBI), a leading provider of effective and environmentally responsible pest management and plant health products, announced today the signing of a commercial agreement with Anasac Chile S.A. to develop and distribute GRANDEVO® Bioinsecticide and VENERATE® Bioinsecticide in Chile.
DAVIS, Calif., March 09, 2020 (GLOBE NEWSWIRE) -- Marrone Bio Innovations, Inc, (NASDAQ: MBII) (MBI), a leading provider of effective and environmentally responsible pest management and plant health products, announced today the signing of a commercial agreement with Anasac Chile S.A. to develop and distribute GRANDEVO® Bioinsecticide and VENERATE® Bioinsecticide in Chile.
Anasac is a leading Chilean agricultural inputs provider, committed to agricultural productivity and its people. Since 1948 Anasac has been a leader in delivering solutions that enable growth for its customers. Anasac has more than 17% share of the $440 million Chilean crop protection market, and is the second largest player in plant nutrition and corn seed in Chile as well, among other business lines in the agricultural & livestock markets.
The production of fruits and vegetables in Chile was 7.9 million metric tons in 2018. Within South America, Chile is responsible for 60% of all fruit exports. Chile is the leading exporter of fresh blueberries, grapes, plums, dried apples and prunes. It is also the second largest exporter of avocados, cherries, walnuts, and raspberries. Grape is the leading fruit followed by apples and blueberries.
Anasac’s initial focus will be in table grapes, stone fruit and tomatoes for thrips, mealybug, oriental moth, San Jose scale and whitefly control where both products have proven highly effective in official field studies and will be of great value to its customers.
Both bioinsecticides offered by MBI provide resistance management in integrated program, while not harming beneficial insects and pollinators. They are also exempt from food tolerance requirements which helps growers manage the residue levels on exported crops.
Dr. Pam Marrone, Founder and Chief Executive Officer of Marrone Bio Innovations, commented, “We continue executing on our growth plans with international expansion in key row crops and specialty crop markets. We are pleased to have a clear leader such as Anasac as our Chilean partner.”
Gabriel Ormeño H., Anasac Chile’s General Manager, said, “We are excited to work with MBI, and to introduce effective, novel biological products like GRANDEVO and VENERATE into integrated pest management programs and for residue and resistance management in Chile’s important fruit production and export markets.
GRANDEVO is an advanced broad-spectrum bioinsecticide that offers protection against chewing and sucking insects and mites including mealybugs, thrips, whiteflies, Lygus bug, armyworms and other pests. The active ingredients in GRANDEVO bioinsecticide is a novel species of non-living bacteria that produce insecticidal compounds during the fermentation manufacturing process. Grandevo repels, stops feeding and reduces egg laying of pest insects and mites.
VENERATE Bionsecticide features multiple modes of action and is effective against a wide variety of chewing and sucking insects and mites. The active ingredient is also a non-living, novel microbial species that produces several active compounds. These compounds provide control by exoskeleton degradation and molting interference; control of the pests is achieved through exposure and ingestion of the product.
About Marrone Bio Innovations
Marrone Bio Innovations Inc. (NASDAQ: MBII) is a growth-oriented company leading the movement to more a sustainable world through the discovery, development and sale of innovative biological products for crop protection, plant health and waterway systems treatment that help customers operate more sustainably while increasing their return on investment. MBI has screened over 18,000 microorganisms and 350 plant extracts, leveraging its in-depth knowledge of plant and soil microbiomes enhanced by advanced molecular technologies and natural product chemistry to rapidly develop seven product lines. Supported by a robust portfolio of over 400 issued and pending patents, MBI’s currently available commercial products are Regalia®, Stargus®, Grandevo®, Venerate®, Majestene®, Haven® and Amplitude®, Zelto® Jet Oxide® and Jet Ag® and Zequanox®, with a breakthrough bioherbicide and biofumigant in the Company’s product pipeline. Pro Farm, MBI’s Finland-based subsidiary, employs a proprietary technology derived from wood waste to stimulate plant growth and improve plant health, resulting in improved yields and crop quality. Products include UBP-110®, LumiBio™, LumiBio Valta™, LumiBio Kelta™, Foramin®.
Learn more about Marrone Bio Innovations at www.marronebio.com. We also use our investor relations website, https://investors.marronebio.com, as well as our corporate Twitter account, @Marronebio, as means of disclosing material non-public information, and encourage our investors and others to monitor and review the information we make public in these locations. Follow us on social media: Twitter, LinkedIn and Instagram.
Marrone Bio Innovations Forward Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations and plans, including assumptions underlying such statements, are forward-looking statements, and should not be relied upon as representing MBI’s views as of any subsequent date. Examples of such statements include the potential of Grandevo and Venerate in Chile. Such forward-looking statements are based on information available to the Company as of the date of this release and involve a number of risks and uncertainties, some beyond the Company’s control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including weather, regulatory and other factors affecting demand for the MBI’s products, any difficulty in marketing MBI’s products in its target markets, competition in the market for pest management products, lack of understanding of bio-based pest management products by customers and growers. Additional information that could lead to material changes in MBI’s performance is contained in its filings with the SEC. MBI is under no obligation to, and expressly disclaims any responsibility to, update or alter forward-looking statements contained in this release, whether as a result of current information, future events or otherwise.
Marrone Bio Innovations Contacts:
Pam Marrone, CEO and Founder
Telephone: +1 (530) 750-2800
Email: Info@marronebio.com
Investor Relations Contact:
Greg Falesnik, Managing Director
MZ Group – MZ North America
Main: 949-385-6449
MBII@mzgroup.us
www.mzgroup.us
