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Marrone Bio Expands into the 179 Million Acre Corn and Soybean Market
DAVIS, Calif., Feb. 08, 2021 (GLOBE NEWSWIRE) -- Marrone Bio Innovations (MBI) (NASDAQ: MBII), announced today that its foliar plant health product for row crops, Pacesetter, showed outstanding performance in 2020 field trials in the U.S. Midwest. Grower demo trials saw an average of a six-to-one return on investment with improved yield of 6.4 bushels per acre in corn and 3.3 bushels per acre in soybeans.
“Growers and distributors are very pleased with the results they saw from the Pacesetter field trials,” states Timothy Knight, senior director of North and Central American sales. “Using Pacesetter to produce healthier, higher-yielding plants, is an excellent example of how a BioUnite™ approach – combining biologicals and traditional chemistry – can help growers achieve the highest return for their crop.”
Pacesetter is recommended for use with conventional fungicides to increase leaf chlorophyll content and improve plant health resulting in increased crop yield beyond what synthetic fungicides alone can generate. Developed for row crops such as corn, soybeans, cereal grains, cotton and more, Pacesetter has been shown to improve overall health and crop vigor, resulting in increased yields and profits.
More than 90 field trials conducted throughout the Midwest during the 2020 growing season showed Pacesetter, when combined with a conventional fungicide, out-yielded fungicide use alone. Average return on investment in the trials was above six to one and numerous plant health benefits were witnessed. For corn, longer and wider ear leaf size, increased number of corn kernel rows, and longer and healthier corn kernels were observed. Soybeans had healthier plants and more pods per plant.
In the past, MBI’s foliar products have been focused on specialty crops in the U.S. West and East Coast. With the introduction of Pacesetter, MBI is now able to reach the vast corn and soybean acreage of the Midwest – expected to be over 179 million acres in 2021, according to a November 10, 2020 USDA report. The introduction of the plant health product will provide growers with a novel solution to improve yield and return on investment.
Pacesetter is currently available for sale in the U.S. and is approved for use on corn, soybeans, cereal grain, cotton and more.
To learn more about Pacesetter, visit https://marronebio.com/products/pacesetter/.
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 and plant health that help customers operate more sustainably while increasing their return on investment. MBI has screened over 18,000 microorganisms, 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 500 issued and pending patents, MBI’s currently available commercial products are Regalia®, Stargus®, Grandevo®, Venerate®, Majestene®, Haven®, Pacesetter®, Zelto® Jet-Oxide® and Jet-Ag®, with a next-generation insecticide-nematicide, a breakthrough bioherbicide and a biofumigant in the Company’s product pipeline. MBI’s Pro Farm Finland-based subsidiary employs a proprietary technology derived from wood waste to stimulate plant growth and improve plant health, resulting in improved yields and crop quality. Products include UBP™ 110, Foramin®, UBP™ Seed Treatment, Foramin® ST.
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, the sales potential in the U.S. Midwest, weather, the novel coronavirus COVID-19, 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 Contact:
Clyde Montevirgen, VP of Business Development & Investor Relations