Marrone Bio Innovations, Inc. (NASDAQ:MBII) (MBI), a leading provider of bio-based pest management and plant health products for the agriculture, turf and ornamental and water treatment markets, today announced that it has signed an exclusive distribution agreement with Great Harvest Agri Chemicals Corporation (GHAC), a leading supplier of agricultural inputs in the Philippines.
GHAC plans to register and commercialize MBI’s REGALIA biofungicide in the Philippines. Regalia stimulates a plant’s innate ability to fight diseases while delivering better yield and improved harvest quality. Local trials have shown Regalia’s benefits in combatting the ever-present black sigatoka disease in bananas, with comparable performance to the leading chemical pesticide. The Philippines has 60,000 hectares in banana production, and treatments to control this yield-robbing disease are applied 52-60 times per year. In 2016, 1.73 metric tons of the fruit were exported, valued at $730 million U.S. dollars (USD).
MBI’s broad spectrum bio-insecticide, VENERATE, will also be submitted for registration and commercialized by GHAC in the Philippines. Local trials have shown Venerate to provide control of banana thrips (Frankinella occidentalis) in equal or better measure to the standard synthetic chemicals used. Joacanima is also coordinating banana trials with Venerate and GRANDEVO for scale insects, as well as Majestene trials for control of root destroying nematodes. Testing is also planned for hoppers and Cecid fly in mangoes. Cecid fly has been difficult to manage with chemical controls and as a result, mango hectares in the Philippines are on the decline. Trials on vegetables showed that Grandevo and Venerate controlled diamondback moth as well as the chemical standard.
In the Philippines, 30 million hectares, or 47% of the land, is dedicated to agriculture. Major crops include rice, mangoes, vegetables, bananas and pineapples. MBI’s portfolio of effective biopesticide products are exempt from food residue tolerances, offering all growers the required residue management benefits for exported crops. Besides the major exportation of bananas, other key Philippine exports slated for these product labels are fresh pineapples (599,000 metric tons valued at $240 million USD) and mangoes (15,000 metric tons valued at $13 million USD).
Dr. Pam Marrone, Founder and Chief Executive Officer of MBI, commented, “Our relationship with Great Harvest is strong and the company is a proven champion of biotechnologies in the Philippines. We are proud to partner with them to bring our effective, bio-based solutions to the region’s growers.”
Source: Philippines Statistics Authority
About Great Harvest Agri Chemicals Corporation
Great Harvest Agri Chemicals Corporation is part of JOCANIMA Corporation, a key innovator and provider of quality agrochemicals to top multinationals and important distributors throughout the Philippines. Since its beginning in July 2001, the company has been utilizing extensive resources and expertise developed over the past years of collaboration with reputable international companies. The company’s success is a result of emphasis on supplier relations and professional product marketing to meet customers’ needs and expectations.
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’s currently available commercial products are Regalia, Grandevo, Venerate, Majestene, Haven Stargus(TM) and Amplitude(TM), Zelto(TM) and Zequanox. 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, turf managers 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 the potential of Regalia, Venerate, Grandevo, Majestene and other MBI products in the Philippines and other international markets, market projections, including the potential benefits of MBI’s products, and MBI’s plans for expanding additional label 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 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
Julie Versman, Sr. Director of International Business
Telephone: +1 (530) 750-2800
MBI Investor Relations:
MZ Group – MZ North America
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