ATESSA, Italy and DAVIS, Calif., July 11, 2019 (GLOBE NEWSWIRE) — Marrone Bio Innovations Inc. (the “Company” or “MBI”) (NASDAQ: MBII), a leading developer of bio-based products for pest management and plant health, today announced that it has entered into a strategic partnership to collaborate on research and development efforts with Valagro S.p.A, a leader in the production and commercialization of biostimulants and specialty nutrients.
The global, non-exclusive research collaboration will leverage a subset of Marrone Bio’s collection of 18,000 microorganisms in conjunction with Valagro’s biostimulant and plant nutrition products that enhance crop yield and quality. Products resulting from this partnership have the potential to enhance a grower’s productivity and return on investment with plants that develop better root systems, grow with more vigor and thrive under harsher growing conditions. Additonally, growers of specialty crops would have the potential to produce higher quality fruit that matures more quickly.
“As a leader in the plant biostimulants development space, Valagro is excited to combine our unique know-how acquired in the field of plant biostimulants and plant nutrition with Marrone Bio’s strength in microorganisms and biopesticides, addressing a $155 billion global plant nutrition market1,” said Giuseppe Natale, Chief Executive Officer of Valagro. “This collaboration with the clear industry leader in bio-based products reinforces our global corporate positioning as a leading player in agricultural nutrition and biologicals – which includes biostimulants and biofertilizers – by integrating and delivering advanced products and value-added tech-based services to farmers globally. ”
“We strive to be the partner of choice with notable players in the global ag market such as Valagro,” said Dr. Pam Marrone, Chief Executive Officer of Marrone Bio Innovations. “This collaboration allows us new opportunities to further monetize our microorganism collection, applying our biologicals expertise into adjacent markets. The products from this partnership have the potential to provide growers with innovative new products addressing unmet needs.
“We have long known that MBI’s suite of innovative bio-based products work best in combination with complementary traditional and biological agricultural solutions, such as those from Valagro. Combining them into unique new products would provide growers with a better bottom line, and also increased sustainability. This partnership is an excellent example of our disciplined approach to research, which maximizes productivity, and leverages previously invested capital, thus conserving capital.”
As the collaboration matures, crops, uses and commercial terms will be defined for both parties.
1 World Fertilizer Magazine
About Valagro S.p.A.
Valagro is a leader in the production and commercialization of biostimulants and specialty nutrients. Founded in 1980 and headquartered in Atessa (Italy), Valagro is committed to providing innovative and effective solutions for plant nutrition and care. Its mission is to increase the quantity and quality of plants and harvested crops while enhancing productivity and reducing the environmental impact of cultivations.
Valagro uses science in the service of mankind to improve nutrition and quality of life while respecting the environment. For more information, please visit www.valagro.com.
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® and Zequanox®, with a breakthrough bioherbicide and biofumigant in the company’s product pipeline.
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, including examples regarding the potential of and market for MBI’s Regalia Maxx product and its use and value to growers should not be relied upon as representing MBI’s views as of any subsequent date. Examples of such statements include the potential of the MBI’s products and product combinations with Valagro’s products and technology and market projections. 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.
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