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PERGAMINO, Argentina and DAVIS, Calif., Sept. 15, 2020 (GLOBE NEWSWIRE) -- Rizobacter, a subsidiary of Bioceres Crop Solutions Corp. (NYSE: BIOX) and global leader in sustainable solutions for agriculture, and Marrone Bio Innovations, Inc. (NASDAQ: MBII) (MBI), an international leader in sustainable bioprotection and plant health solutions, announced the signing of an exclusive agreement to distribute a foliar fertilizer and plant health technology in Argentina, Uruguay, Paraguay and Bolivia.
South America is well-known for its extensive soybean, corn and wheat production, crops where MBI’s technology will be an important tool in helping growers increase yield through improved nutrition and plant health. Demand for biologicals is increasing in the region with an estimated market value of USD 1 billion and a projected CAGR of 11%. Adoption of inoculants, biostimulants and biopesticides is rapidly growing, driven by increased farmer awareness and consumer demand for more environmentally sustainable agricultural practices.
With 43 years of history and a renowned reputation in the South American market, Rizobacter is well-placed to meet the increasing biological demands of growers with this revolutionary plant health product.
“Rizobacter has a strong focus in biologicals and sustainable crop solutions. Our portfolio includes inoculants, soil-applied specialty fertilizers and adjuvants for enhanced foliar applications. This alliance enriches our offering of an integrated crop nutrition program,” said Ricardo Yapur, Rizobacter’s CEO.
"We are excited to partner with Rizobacter to introduce our patented technology to the South American market,” said Matti Tiainen, co-founder of Pro Farm, a wholly owned subsidiary of Marrone Bio Innovations. “Rizobacter’s understanding of local growers’ needs, strong distribution network and exceptional talent make them an excellent partner that will allow us to bring biological solutions to more farmers globally.”
The alliance between Rizobacter and Marrone Bio marries complimentary portfolios and a strong commitment to research. The result will provide farmers in Argentina, Uruguay, Paraguay and Bolivia with a new solution that will add value to their farming operations.
The product announcement and availability is expected in October 2020.
Rizobacter, a subsidiary of Bioceres Crop Solutions Corp. (NYSE: BIOX) is a leading company in the development, manufacturing and commercialization of biological solutions applied to agriculture. Rizobacter is delivering state-of-the-art technologies in 31 countries through its eight subsidiaries and highly-skilled distribution network. Rizobacter’s main product lines are biologicals, adjuvants and specialty fertilizers. Rizoliq TOP®, Osmium®, Signum®, Rizoliq LLI®, Rizospray Extremo®, Rizospray Integrum® and Rizostar® are flagship brands of Rizobacter.
Pedro Mac Mullen, Marketing Director
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 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®, 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 South America, 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:
Kevin Hammill, Chief Commercial Officer
Investor Relations Contact:
Greg Falesnik or Luke Zimmerman
MZ Group – MZ North America