DAVIS, Calif., Nov. 6, 2018 – Marrone Bio Innovations, Inc. (NASDAQ: MBII) (MBI), a global 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 Agricultural Materials Company (AMC-TR), a leading supplier of agricultural inputs in Turkey.
AMC-TR was established in Turkey in 2001. They are affiliated with Agrimatco, which is a ¬¬-leading provider of Agricultural Inputs and Services to farmers in the Middle East, North Africa, Eastern Europe, Russia, Ukraine, The Balkans and Gulf countries.
Through this agreement, AMC-TR plans to register and commercialize two of Marrone Bio’s most innovative products. Majestene® a breakthrough bionematicide for nematode control and Grandevo® an advanced bioinsecticide that suppresses and manages early insect populations; protecting crops from the start while helping to prolong the lifespan of other pesticides.
Turkey’s crop protection market is valued at $305M and it is one of the largest exporters for vegetables to Europe, Russia and the Middle East. AMC-TR needed a partner that provides products that are MRL exempt to support export objectives as well as strong efficacy data showing true control of nematode and insect populations. Local field trials reported Majestene’s ability to control root knot nematodes in vegetables even when compared to traditional chemical nematicides. It can be applied in the field or through drip irrigation at planting and throughout the season. Like Majestene, Grandevo bioinsecticide, has shown similar results, when used early, to suppress insect populations. Majestene and Grandevo are traditionally used for both organic and non-organic IPM programs in agriculture and greenhouse markets. Both are organic/OMRI listed and require minimal PPE, making them some of the smartest and safest crop protection products available in the market today. Both products will be developed in vegetables which includes a 375,000 hectare (927,000 acre) area in Turkey, and Grandevo will also be developed in vines- a 435,000 hectare (1.1 Mil acre) area.
“Marrone Bio is proud to further expand sales in Turkey. We’ve seen an increased demand for our products in a number of key territories. Seeing this adoption occur at a quicker pace, and around the world, further affirms the need for biologicals to become a regular part of any IPM program – even with tough pests such as nematodes” said Pam Marrone, MBI’s, Founder and Chief Executive Officer.
About Marrone Bio Innovations
BIO WITH BITE.
Marrone Bio Innovations, Inc. (NASDAQ: MBII) strives to lead the movement to more sustainable world through the discovery, development and sale of innovative biological products for crop protection, plant health and waterway systems treatment. MBI has screened over 18,000 microorganisms and 350 plant extracts, leveraging its in-depth knowledge of plant and soil microbiomes enhanced by advanced molecular technologies to rapidly develop seven effective and environmentally responsible pest management products to help customers operate more sustainably while uniquely improving plant health and increasing crop yields. Supported by a robust portfolio of over 400 issued and pending patents around its superior natural product chemistry, MBI’s currently available commercial products are Regalia®, Grandevo®, Venerate®, Majestene®, Haven® Stargus® and Amplitude™, Zelto® and Zequanox®.
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 the potential above named relationship to drive sales, provide market projections, and realize the potential benefits of our products. 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 weather, 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
Telephone: +1 (530) 750-2800
MBI Trade Public Relations:
Marrone Bio Innovations
MBI Investor Relations:
MZ Group – MZ North America