DAVIS, Calif., April 25, 2018 – Marrone Bio Innovations Inc. (NASDAQ: MBII) (MBI) and Lidorr Chemicals Ltd.(LCL) today announced their partnership to distribute a range of novel biopesticides for sustainable farming in Israel: REYSANA™ Biofungicide, MAJESTENE® Bionematicide and VENERATE® Bioinsecticide.
Marrone Bio Innovations, Inc. (NASDAQ:MBII) (MBI), based in Davis, California, is a leading provider of bio-based pest management and plant health products for agriculture, turf, ornamental and water treatment markets.
Lidorr Chemicals Ltd., a subsidiary of the privately owned The Lidorr Group, has been marketing important crop protection solutions in the Israeli market for many decades. It has pioneered chemigation based solutions to significantly reduce the exposure of non-target insects, such as pollinators and natural enemies to insecticides, and firmly believes in IPM solutions for crop protection problems. The increased use of biopesticides will lead to substantially reduced chemical residues in fresh fruits and vegetables and at the same time will improve the environment in rural areas.
Lidorr Chemicals Ltd., will develop and market three of MBI’s products in Israel:
- The biofungicide REYSANA™ stimulates a plant’s innate ability to fight diseases while delivering better yield and improved harvest quality. Reysana™ contains the same ingredients as MBI’s Regalia® Maxx Biofungicide, which is already marketed and sold in more than 10 countries worldwide.
- The bionematicide MAJESTENE®, can be applied at planting and in-season, providing season long nematode reduction for improved quality and yield.
- The broad spectrum Bioinsecticide, VENERATE®, provides protection against sucking and chewing insects and mites, and is active against adults and nymphs by multiple mode of actions.
The Israeli Agricultural market is well-known for its state of the art technologies in the use of pesticides and high level of agricultural self-sufficiency. Soon important changes in the local agricultural market will be expected due to a major increase of housing development plans in rural areas. This will cause a significant increase in the use of biological crop protection products under a more closely monitored integrated pest management system .
“Together with LCL our goal is to bring effective and environmentally responsible pest management solutions into the Israeli market and help local growers operate more sustainably, while uniquely improving plant health and increasing crop yields,” said Dr. Pam Marrone, Founder and Chief Executive Officer of MBI.
“We congratulate MBI for their outstanding progress providing great innovative Bio solutions for crop protection, said Ami Lidor, Managing Director of Lidorr Chemicals Ltd. We feel privileged to be a partner of excellence to MBI’s endeavor.”
About Marrone Bio Innovations
BIO WITH BITE.
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® StargusTM, AmplitudeTM, ZeltoTM 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 Venerate, Majestene, Reysana and Regalia in the Israel market, international markets, market projections, including the potential benefits of these products, and MBI’s plans for expanding additional label uses and international expansion. 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 inside and outside the United States, 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