International Growth Advanced with Addition of Major Export Nation
DAVIS, CA – Dec 5, 2016 – Marrone Bio Innovations, Inc. (MBI), (NASDAQ: MBII), 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 its flagship biofungicide, REGALIA MAXX, is now registered in Chile.
Chile produces a wide range of fruits, nuts and vegetables for export, and therefore needs solutions to manage chemical residues at time of harvest. Biopesticides like REGALIA MAXX can be applied right up to harvest, providing growers and exporters end of season protection, flexibility, and peace of mind. Chilean growers have been early adopters of biopesticides, recognizing the need to minimize residues, while maintaining or enhancing yields and quality.
REGALIA MAXX, based on an extract of Giant Knotweed (Reynoutria sachalinensis), prevents and fights crop diseases by triggering treated plants to produce disease-fighting biochemicals (Induced Systemic Resistance), while simultaneously enhancing plant health, crop yield and crop quality. REGALIA MAXX is safe to workers, crops, beneficials and pollinators and can be sprayed right up to harvest to manage residues for export. REGALIA also has the minimum restricted-entry interval for workers to enter the field after spraying, increasing operational flexibility.
The REGALIA MAXX label was developed by FMC in Chile for three important exported crops 1) Table and wine grapes: powdery mildew (Erysiphe necator) and a complex of plant pathogens that cause and contribute to fruit rot (Botrytis cinérea, Cladosporium herbarium, Penicillium expansum, Rhizopus stolonifer,), 2) Blueberries: blossom blight (Botrytis cinérea), and 3) Walnuts: walnut blight (Xanthomonas arborícola pv. juglandis).
There are over 183,000 hectares (close to 475,000 acres) of grapes in Chile, approximately two-thirds are wine grapes. Chile is the 8th largest wine producer and the 5th largest wine exporter in the world. 70% of Chile’s wine is exported. Chile is the world’s number one exporter of table grapes, with 27% of the global market. In 2015, table grape exports were 740,000,000 metric tons worth approximately $1 billion1.
Blueberry production in Chile has experienced high growth from 1,360 hectares in 2005 to more than 14,500 hectares (36,000 acres) in 2014, with exports topping $500 million in value. Chile’s blueberry acreage continued to expand in 2015, with 15,900 hectares (almost 40,000 acres) planted. Leading blueberry production region Maule will export a projected 80 million pounds in 2015-16, a 35% increase over 2014-15, according to the Chilean Blueberry Committee. Chile exports between 60% and 70% of its production primarily to the United States and Europe.1
Walnuts is an emerging crop for Chile with nearly 30,000 hectares (almost 75,000 acres) of walnuts. Chile expects to double production in the next five years.2
These markets represent an excellent growth opportunity for Regalia Maxx, according to FMC. Under an agreement with MBI, FMC now distributes REGALIA MAXX in Chile, Brazil, Peru, Mexico and some other Latin American countries.
REGALIA MAXX is an excellent resistance management tool,” said Juan Pable Luco, FMC Agricultural Solutions Country Manager for Chile and Peru. “By offering a different mode of action, REGALIA MAXX expands growers’ options and will help producting better quality crops. We are pleased to add an effective Biofungicide for integrated disease and residue management programs in Chile.”
REGALIA MAXX is now registered in 10 countries in the LATAM region.
1Source: Office of Agricultural Studies and Policies (PASO)
2 Sources: Eurofresh Distribution, CropLife Foundation, USDA-FAS.
3 Source: Chilean Walnut Commission
About FMC Corporation
For more than a century, FMC Corporation has served the global agricultural, industrial and consumer markets with innovative solutions, applications and quality products. FMC acquired Cheminova in April 2015. Revenue totaled approximately $3.3 billion in 2015. FMC employs approximately 6,000 people throughout the world and operates its businesses in three segments: FMC Agricultural Solutions, FMC Health and Nutrition and FMC Lithium. For more information, visit www.FMC.com.
About Marrone Bio Innovations
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. We market 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.
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 and market for MBI’s REGALIA MAXX product and its use and value to growers. 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 risks associated with marketing MBI’s Regalia with MBI’s principal customers, competition in the market for pest management products, lack of understanding of bio-based pest management products by customers and growers, adverse decisions by regulatory agencies and other relevant third parties and the impact of weather conditions and other factors affecting use of crop protection products. 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.
Marrone Bio Innovations Contact:
Julie Versman, Senior Director of International Business
Telephone: +1 (530)750-2800
MBI Investor Contact:
James Palczynski, ICR
Telephone: +1 (203) 682-8229