DAVIS, Calif. – January 7, 2020 — Marrone Bio Innovations Inc. (NASDAQ: MBII) (MBI), an international leader in sustainable bioprotection and plant health solutions, today announced that two of its biofungicide products—Stargus® and Regalia®—have been approved by the United States Environmental Protection Agency (EPA) for indoor and outdoor use on hemp plants.
Stargus and Regalia improve hemp plant quality and yield, as well as treat and protect hemp plants from a range of diseases, including powdery mildew, Botrytis bud rot, Sclerotinia white mold, Fusarium rots and wilts and other fungal and bacterial diseases. This is the first time that the EPA has approved crop protection products on hemp since the crop became legal to grow under the 2018 Farm Bill.
“With more than $1.1 billion in revenues in 2018, the hemp market is projected to more than double by 2022,” said Dr. Pamela Marrone, CEO and Founder of Marrone Bio Innovations. “This is an exciting opportunity for Marrone Bio to extend our business into a rapidly growing market, which will only continue to grow as the acres continue to expand. With Stargus and Regalia now approved at the federal level for hemp, we are well positioned to grow alongside this burgeoning market.”
Chemical pesticides dominate today’s $60 billion global pesticides market, but the fastest-growing category of crop inputs is biologicals. When integrated into crop production and pest management programs, biologicals – including Stargus and Regalia – can offer higher-quality crops and better yields. Both products are applicable for organic farming as well.
The bacteria in Stargus work by colonizing plant root hairs, leaves and other plant surfaces, thereby preventing establishment of fungal and bacterial pathogens. The Stargus bacteria also produce natural compounds that inhibit detrimental bacterial, fungal growth and spore germination. Further, the Stargus bacteria trigger immune responses in the plant to ward off diseases and increase both growth and yield, creating a healthier and stronger plant.
MBI’s Regalia Biofungicide, based on a plant extract, delivers better yield and improved harvest quality. Regalia helps to increase crop performance by stimulating a plant’s innate ability to fight diseases. This fungicide offers preventative activity and early control of yield-robbing diseases, resulting in increased marketable yield and top profit on every acre.
MBI is now pursuing state approvals under the Regalia and Stargus labels, with hemp uses added, to ensure product availability for the 2020 growing season. Please check the following website https://marronebio.com for regular updates on state approvals and product information.
About Marrone Bio Innovations
Marrone Bio Innovations Inc. (NASDAQ: MBII) is a growth-oriented company leading the movement to more a 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. Pro Farm, MBI’s 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®, LumiBio™, LumiBio Valta™, LumiBio Kelta™, Foramin®.
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. Examples of such statements include the potential of Stargus and Regalia for hemp. 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
Investor Relations Contact:
Greg Falesnik, Managing Director
MZ Group – MZ North America