DAVIS, Calif.--(BUSINESS WIRE)--Marrone Bio Innovations (MBI), Inc. (NASDAQ:MBII) and Nufarm Australia Limited announced today the signing of a commercial agreement to develop GRANDEVO® Bioinsecticide, with Nufarm to be the exclusive distributor in Australia and New Zealand (ANZ).
Grandevo is a new generation product that helps growers effectively protect their crops against chewing and sucking insects and mites including mealybugs, thrips, whiteflies, Lygus bug, armyworms and other pests. The active ingredient in GRANDEVO® is a unique species of non-living bacteria that produces insecticidal compounds during the fermentation manufacturing process.
GRANDEVO® provides resistance management in an IPM program, while not harming beneficial insects and pollinators. It is also exempt from the requirement of a food tolerance, and provides an effective solution for late season pest control on exported crops that are subject to maximum residue levels.
Dr. Pam Marrone, Founder and Chief Executive Officer of Marrone Bio Innovations said, “The completion of this agreement with Nufarm is the first of many agreements we expect in the execution of our growth strategy by expansion into receptive international markets.”
Royden Hearn, ANZ Lead Portfolio Solutions at Nufarm said, “We are excited to be working with MBI and see GRANDEVO® as an exciting step forward in integrating biorationals into what we do. Combining this innovative product with Nufarm’s expertise in trees, nuts, vines and vegetables will have a positive impact for farmers who need to do more with less.”
“Nufarm has recently celebrated 100 years of servicing the ANZ market and continues to work with our channel partners, as a reliable supplier of competitively positioned quality products that meet the needs of a diverse range of growers. We continue to innovate and develop within Nufarm and work with partners, such as MBI, to deliver innovative products to a market that continues to change.”
Both Australia and New Zealand represent significant opportunities for GRANDEVO®. Combined, horticulture crop protection revenues in these markets are estimated to exceed AUD$400m (USD$300m) annually (Source: Nufarm estimate).
For additional information and distribution inquiries, please contact:
Royden Hearn, ANZ Lead Portfolio Solutions, Nufarm
Telephone: +61 39282 1000
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. 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. MBI also markets 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.
About Nufarm Limited
Grow a better tomorrow.
Nufarm Limited is one of the world's leading crop protection and specialist seeds companies. We produce products to help farmers protect their crops against damage caused by weeds, pests and disease.
With manufacturing and marketing operations based in Australia, New Zealand, Asia, Europe and the Americas, Nufarm employs more than 3,400 people, all of whom make a vital contribution to the company's reputation for quality products, innovation and first class marketing and technical support.
Nufarm is listed on the Australian Stock Exchange (symbol NUF) and its head office is located at Laverton in Melbourne.
For more information, please visit http://www.nufarm.com/
Marrone Bio Innovations Forward Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertain-ties. 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 sales of the Company’s products, including GRANDEVO in Australia and New Zealand and other markets, the potential benefits of the Company’s products, and MBI’s efforts with respect to expansion of its product labels. 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 Company’s products, any difficulty in marketing MBI’s products in Australia and New Zealand, competition in the market for pest management products, lack of understanding of bio-based pest management products by customers and growers, and adverse decisions by regulatory agencies and other relevant third parties. 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.