Marrone Bio Innovations Launches Haven™ for Sun Stress Reduction in Crops
March 23 2017 - 8:30AM
Marrone Bio Innovations, Inc. (NASDAQ:MBII) (MBI) is expanding
beyond biopesticides and crop protection and into the biostimulant
market by commercially launching Haven Anti-transpirant for use in
a broad range of fruit, nut and vegetable crops, in addition to
corn, wheat and turf.
Anti-transpirants are compounds applied to the
leaves of plants to reduce transpiration, the evaporation of water
from plant leaves to cool plants. In stressful environments, such
as intense sunlight or drought, excess transpiration causes
significant damage to crops.
“MBI is focused on developing and
commercializing innovative products that address unmet market needs
and deliver value to growers,” said Pam Marrone, Founder and Chief
Executive Officer of MBI. “We are pleased to enter the
biostimulant market and expand our product portfolio with the
launch of Haven, which offers growers a new technology that reduces
sun stress in crops, increases crop yields and improves
quality.”
Haven is derived from plant-based compounds that
reflect light and heat to maintain lower leaf temperatures while at
the same time reducing water loss, resulting in less stress to the
crop and higher yields and quality. When two to four applications
are sprayed on crops generally starting at early fruit/nut set,
Haven has reduced sun stress and increased yields for certain apple
varieties, almonds, walnuts, grapes, citrus, tomatoes, corn, wheat
and turf. Field trials have also demonstrated a reduction of
bitter pit in apples. Bitter pit is caused by a calcium deficiency
that causes serious crop losses in certain apple varieties.
Unlike most current sun stress/anti-transpirant
products on the market today that form a physical barrier to block
the sun, Haven brings the added benefit to growers of leaving no
visible deposit or residue on the crop.
Various market research firms estimate the
biostimulant market at approximately $1.5 billion in 2015, growing
by 10.4%-13.6% annually to reach more than $3 billion in 2021 or
2022 (MarketsandMarkets, Zion Market Research and Mordor
Intelligence). In 2013, Piper Jaffray estimated the biostimulant
market at $1 billion with a 20% compounded annual growth rate. The
biopesticide market, which includes pest management/crop protection
products is estimated at $3 billion this year, growing at similar
annual rates as biostimulants (BCC Research, MarketsandMarkets,
Agropages).
MBI drives its growth by focusing on new product
launches, expansion of its existing products to new crops and
pests, and expansion of its distribution channels into new
international markets. In doing so, MBI continues to be a
pacesetter in the launch of new products. MBI launched its first
nematicide, Majestene, in 2016 and is expanding into more crops and
uses. Haven represents another first for MBI as its first
biostimulant and first new product launch for 2017.
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.
Marrone Bio Innovations Forward Looking
StatementsThis 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
MBI’s Haven product, including the development, commercialization
and market for and potential benefits of Haven. 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 any
difficulty in manufacturing, conducting demos, and marketing and
selling Haven with MBI’s principal customers, competition in the
market for anti-transpirant products, lack of understanding of
these types of 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.
Marrone Bio Innovations Contact:
Pam Marrone, CEO and Founder
Andre Trepanier
Product Manager, Fungicides and New Products
Telephone: +1 (530) 750-2800
Email: Info@marronebio.com
MBI Investor Contact:
James Palczynski, ICR
Telephone: +1 (203) 682-8229
Email: James.Palczynski@icrinc.com
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