Company poised for continued growth in a $6+ billion market¹
RALEIGH, N.C., March 24, 2022 (GLOBE NEWSWIRE) -- Marrone Bio Innovations, Inc. (NASDAQ: MBII), has signed an agreement with Corteva Agriscience (NYSE: CTVA) that expands the opportunity for MBI technologies to be used on seeds sold by Corteva for row crops globally. Marrone Bio currently provides seed treatment solutions to Corteva for use throughout Europe.
MBI introduced biological seed treatments as a sustainable alternative to control yield-robbing pests in the United States in 2017. Those offerings expanded to include plant health solutions, particularly in the European market, with the acquisition of Pro Farm in 2019. Today, more than 30% of MBI’s annual revenues come from seed technologies used on approximately 35 million acres of major row crops such as corn, soybeans, wheat, cotton and sunflowers.
“Expanding our global cooperation with Corteva affirms the strength of the partnership we have developed over the last two years,” states Kevin Helash, chief executive officer of Marrone Bio. “This new collaboration solidifies both companies’ commitment to provide growers with efficacious and sustainable solutions that enhance crop productivity and return on investment.” The agreement is effective immediately.
Matti Tiainen, Marrone Bio’s senior vice president of international sales added, “Combining industry-leading, naturally-derived seed treatments with one of the largest agriculture companies in the world will allow both organizations to capitalize on their strengths and provide growers with new technologies and valuable results.”
Marrone Bio is an international leader in sustainable bioprotection and plant health solutions with 18 commercial products and 20 additional technologies in its research and development pipeline. This pipeline includes MBI-206, which has been submitted for approval in Brazil for use as a seed treatment to control nematodes in soybeans and corn.
Source: 1. Mordor Intelligence, Size of Global Seed Treatment Market
About Marrone Bio Innovations
Marrone Bio Innovations Inc. (NASDAQ: MBII) is a growth-oriented agricultural company leading the movement to environmentally sustainable farming practices through the discovery, development and sale of innovative biological products for crop protection, crop health and crop nutrition. Our portfolio of 18 products helps customers operate more sustainably while increasing their return on investment. The company’s commercial products are sold globally and supported by a robust portfolio of more than 500 issued and pending patents. Our end markets include row crops; fruits and vegetables; trees, nuts and vines; and greenhouse production. Marrone Bio’s research and development program uses proprietary technologies to isolate and screen naturally occurring microorganisms and plant extracts to create new, environmentally sound solutions in agriculture.
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 within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding strategy, product development, future operations and plans, including assumptions underlying such statements, are forward-looking statements, and should not be relied upon as representing the company’s views as of any subsequent date. Examples of such statements include statements regarding the collaboration with Corteva and the companies’ ability to provide value to customers. 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 the recent uncertainty in the global economy and industry-specific economy caused by the COVID-19 pandemic, consumer, regulatory, weather and other factors affecting demand for the company’s products, any difficulty in expanding the company’s sales and marketing infrastructure or marketing the company’s products in global markets, competition in the market for herbicide products, lack of understanding of bio-based herbicide products by customers and growers, adverse actions by distributors, manufacturers, regulatory agencies and other relevant third parties. Additional information that could lead to material changes in the company’s performance is contained in its filings with the Securities and Exchange Commission. The company 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 new information, future events or otherwise.
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