Marrone Bio Innovations and Nufarm Join Forces to Improve Crop Productivity and Sustainability for Growers in New Zealand and Australia
DAVIS, Calif.--(BUSINESS WIRE)--
Marrone Bio Innovations (MBI), Inc. (NASDAQ:MBII) and Nufarm Australia
Limited announced today the signing of a commercial agreement to develop
GRANDEVO® Bioinsecticide, with Nufarm to be the exclusive
distributor in Australia and New Zealand (ANZ).
Grandevo is a new generation product that helps growers effectively
protect their crops against chewing and sucking insects and mites
including mealybugs, thrips, whiteflies, Lygus bug, armyworms and other
pests. The active ingredient in GRANDEVO® is a unique species
of non-living bacteria that produces insecticidal compounds during the
fermentation manufacturing process.
GRANDEVO® provides resistance management in an IPM program,
while not harming beneficial insects and pollinators. It is also exempt
from the requirement of a food tolerance, and provides an effective
solution for late season pest control on exported crops that are subject
to maximum residue levels.
Dr. Pam Marrone, Founder and Chief Executive Officer of Marrone Bio
Innovations said, "The completion of this agreement with Nufarm is the
first of many agreements we expect in the execution of our growth
strategy by expansion into receptive international markets."
Royden Hearn, ANZ Lead Portfolio Solutions at Nufarm said, "We are
excited to be working with MBI and see GRANDEVO® as an exciting step
forward in integrating biorationals into what we do. Combining this
innovative product with Nufarm's expertise in trees, nuts, vines and
vegetables will have a positive impact for farmers who need to do more
"Nufarm has recently celebrated 100 years of servicing the ANZ market
and continues to work with our channel partners, as a reliable supplier
of competitively positioned quality products that meet the needs of a
diverse range of growers. We continue to innovate and develop within
Nufarm and work with partners, such as MBI, to deliver innovative
products to a market that continues to change."
Both Australia and New Zealand represent significant opportunities for
GRANDEVO®. Combined, horticulture crop protection revenues in
these markets are estimated to exceed AUD$400m (USD$300m) annually
(Source: Nufarm estimate).
For additional information and distribution inquiries, please contact:
Julie Versman, Senior Director of International Business, Marrone Bio
or visit www.marronebio.com
Royden Hearn, ANZ Lead Portfolio Solutions, Nufarm
+61 39282 1000
About Marrone Bio Innovations
Smart. Natural. Solutions.
Marrone Bio Innovations,
Inc. (NASDAQ: MBII) strives to lead the movement to a more sustainable
world through the discovery, development and promotion of biological
products for pest management and plant health. Our effective and
environmentally responsible solutions help customers operate more
sustainably while controlling pests, improving plant health, and
increasing crop yields. We have four products for agriculture on the
market (Regalia®, Grandevo®, Venerate®
and Majestene®), and also distribute Bio-tam 2.0®
for Isagro USA in the western U.S. MBI also markets Zequanox®
for invasive mussels for water markets. We also have a proprietary
discovery process, a rapid development platform, and a robust pipeline
of pest management and plant health product candidates. At Marrone Bio
Innovations we are dedicated to pioneering better biopesticides that
support a better tomorrow for users around the globe. For more
information, please visit www.marronebio.com.
About Nufarm Limited
Grow a better tomorrow.
Nufarm Limited is one of the
world's leading crop protection and specialist seeds companies. We
produce products to help farmers protect their crops against damage
caused by weeds, pests and disease.
With manufacturing and marketing operations based in Australia, New
Zealand, Asia, Europe and the Americas, Nufarm employs more than 3,400
people, all of whom make a vital contribution to the company's
reputation for quality products, innovation and first class marketing
and technical support.
Nufarm is listed on the Australian Stock Exchange (symbol NUF) and its
head office is located at Laverton in Melbourne.
For more information, please visit http://www.nufarm.com/
Marrone Bio Innovations Forward Looking Statements
This press release contains forward-looking statements that involve
substantial risks and uncertain-ties. 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 statements regarding sales of the
Company's products, including GRANDEVO in Australia and New Zealand and
other markets, the potential benefits of the Company's products, and
MBI's efforts with respect to expansion of its product labels. 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 consumer, regulatory and other
factors affecting demand for the Company's products, any difficulty in
marketing MBI's products in Australia and New Zealand, competition in
the market for pest management products, lack of understanding of
bio-based pest management products by customers and growers, and adverse
decisions by regulatory agencies and other relevant third parties.
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 new information, future events or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170130005864/en/
James Palczynski, +1 203-682-8229
Source: Marrone Bio Innovations
News Provided by Acquire Media
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