Marrone Bio Innovations, Inc. (NASDAQ:MBII), (MBI), a leading provider of bio-based pest management and plant health products for agriculture, turf, water treatment and ornamental markets, has signed an exclusive distribution agreement with Kenya Biologics Ltd (KBL) to bring MBI’s biopesticides to Kenya and Tanzania.
These new markets represent notable opportunities for MBI’s portfolio of biopesticides. Kenya is the second largest exporter of French beans and peas to the EU, as well as a key supplier of roses globally. Farmers in Kenya rely heavily on low residue crop protection methods in order to comply with strict EU regulations on imports, which has created notable need for effective biological pest control solutions.
“Our expansion into Kenya and Tanzania affirms our commitment to work with farmers, food companies and retailers to provide cost-effective, proven solutions to increase crop yields, while helping farmers meet sustainability goals,” said Pam Marrone, MBI’s Chief Executive Officer. “With our strong product line and demonstrated commercialization capabilities, we are excited about the market potential for our portfolio of biopesticides as the segment becomes increasingly relevant in international trade.”
KBL based in Kenol, Kenya, produces and distributes biological farm inputs in Kenya and Tanzania. KBL has over 13,000 customers across all farm sizes. The company is supported by the African Enterprise Challenge fund, which provides catalytic funding to innovative companies working on sustainable solutions.
Chris Kolenberg, Chief Executive Officer of KBL, said: “Kenya Biologics is pleased to announce our collaboration with Marrone Bio Innovations. Together, our goal is to make farming more sustainable, while at the same time increasing yields for farmers in Kenya and Tanzania. We believe that MBI’s portfolio of biopesticides represents an important step in achieving this goal.”
Source: Kenya Biologics Ltd.
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. MBI’s effective and environmentally responsible pest management solutions help customers operate more sustainably while uniquely improving plant health and increasing crop yields. MBI currently has six commercially available products (Regalia, Grandevo, Venerate, Majestene, Haven(TM) and Zequanox) as well as eight product candidates in various stages of the company’s rapid development pipeline. MBI also distributes Bio-tam 2.0 for Isagro USA and Jet-Ag for Jet Harvest in most regions of the U.S.
Marrone Bio Innovations is dedicated to pioneering smart biopesticide solutions that support a better tomorrow for both farmers and consumers around the globe. For more information, please visit www.marronebio.com.
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 statements regarding completion of the registration process in Kenya and Tanzania, MBI’s ongoing relationship with KBL, sales of the MBI’s products in Kenya and Tanzania and other markets, market projections, including anticipated growth in the crop protection and biopesticide markets, the potential benefits of the MBI’s products, and MBI’s plans for testing products for additional uses. 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 MBI’s products, any difficulty in marketing MBI’s products in global markets, 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 current information, future events or otherwise.
Marrone Bio Innovations Contacts:
Pam Marrone, CEO and Founder
Julie Versman, Sr. Director of International Business
Telephone: +1 (530) 750-2800
MBI Investor Relations:
MZ Group – MZ North America
Kenya Biologics Contact:
<img src=”http://www.globenewswire.com/newsroom/ti?ndecode=MTUwIzY5NjA1MTE=” alt=”” width=”1″ height=”1″/>