12/09/2019 | Press release | Distributed by Public on 12/09/2019 07:57
DAVIS, Calif., Dec. 09, 2019 (GLOBE NEWSWIRE) - Marrone Bio Innovations, Inc. (NASDAQ: MBII) (MBI), an international leader in sustainable bioprotection and plant health solutions, announced today that its 2019 field trial results for biology-based seed treatments in Europe demonstrated improved yields and cost-effective control of soil insects and nematodes that are equivalent to or better than current industry standards.
Additionally, the company's wholly owned subsidiary, Pro Farm Technology OY (Pro Farm), has demonstrated significant benefits to growers when its patented Foramin® nutrient technology is used in conjunction with conventional or biology-based seed treatments. Foramin offers growers enhanced plant physiology, reduced plant stress, and improved yields and crop quality.
Results from recent yield and stress tolerance trials will be presented by Kalle Virta, director of research and development for Pro Farm, at the 'Exceed The Seed' event during the American Seed Trade Association meeting on December 9, 2019 in Chicago, Illinois.
'The past growing season marked our first international tests - including in the European Union - of the Marrone Bio suite of seed- and soil-applied products,' said Chief Commercial Officer Kevin Hammill. 'These bioprotection products complement Pro Farm's existing portfolio of plant health products. With Pro Farm's broad international distribution capabilities, we expect to bring to more growers the benefits of MBI's technology and broad bioprotection product portfolio.'
Marrone Bio's and Pro Farm's family of seed and soil treatment products are currently available to growers through its distribution and seed company partners in the United States, Canada, Uruguay and Europe with near term expansion into India, Australia, Brazil, Argentina, Paraguay, Bolivia and CIS region for use in a wide variety of crops including corn, soybean, cotton, wheat, barley, sunflower, oilseed rape and vegetables.
MBI European Seed Treatment Field Trial Results
Corn seed treatment trials testing MBI-203 and MBI-206 for corn root worm and nematode control showed yield gains against both the untreated control and a currently used chemical option. When compared with the current treatment, yield gains as high as 35 percent were observed when used at commercial application rates.
Pro Farm Stress-Tolerance Greenhouse and Field Trial Results
Pro Farm tested its Foramin products for 18 different stress parameters across multiple growth stages for barley and wheat in both greenhouse and field conditions in Europe throughout 2019. Foramin is designed to be used in combination with a standard conventional seed treatment package. The Foramin products include both a seed treatment and a foliar applied product.
Last season's results from barley and wheat field trials in Latin America showed yield increases in barley ranging from 2.1 percent to 6.7 percent; and in wheat from 9.0 percent to 14.3 percent. At current commodity prices, these yield gains would add approximately $8 to $26 per acre in revenue for barley growers, and approximately $44 to $68 per acre in revenue for wheat growers.
About Marrone Bio Innovations
Marrone Bio Innovations Inc. (NASDAQ: MBII) is a growth-oriented company leading the movement to a more sustainable world through the discovery, development and sale of innovative biological products for crop protection, plant health and waterway systems treatment that help customers operate more sustainably while increasing their return on investment. 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 and natural product chemistry to rapidly develop seven product lines. Supported by a robust portfolio of over 400 issued and pending patents, MBI's currently available commercial products are Regalia®, Stargus®, Grandevo®, Venerate®, Majestene®, Haven® and Amplitude®, Zelto® Jet Oxide® and Jet Ag® and Zequanox®, with a breakthrough bioherbicide and biofumigant in the Company's product pipeline. MBI also recently completed the acquisition of Pro Farm Finland-based Pro Farm's technology employs a proprietary technology derived from wood waste to stimulate plant growth and improve plant health, resulting in improved yields and crop quality.
Learn more about Marrone Bio Innovations at www.marronebio.com. We also use our investor relations website, https://investors.marronebio.com, as well as our corporate Twitter account, @Marronebio, as means of disclosing material non-public information, and encourage our investors and others to monitor and review the information we make public in these locations. Follow us on social media: Twitter, LinkedIn and Instagram.
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. 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 hiring new leadership, the potential of new revenue generating activities, field trial results 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:
Kevin Hammill, Chief Commercial Officer
Matti Tainen, Managing Director, Pro Farm Technologies
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ac047212-6374-4a0f-b575-83f62408fcf0