Compass Minerals Plant Nutrition and Marrone Bio Innovations collaborate to develop specialty plant nutrition solutions enhan...
May 16 2019 - 8:00AM
Compass Minerals Plant Nutrition, a division of Compass Minerals
(NYSE:CMP), a leading developer and manufacturer of specialty plant
nutrition solutions, and Marrone Bio Innovations Inc.
(NASDAQ:MBII), a leading developer of bio-based products for pest
management and plant health, today announced that the two companies
have formed a collaboration to develop new specialty plant nutrient
products enhanced with microorganisms. The new products will be
developed with patented technologies aimed at helping crops take up
nutrients more efficiently, to increase crop health and reduce crop
stress.
From Marrone Bio’s collection of 18,000
microorganisms, Compass Minerals Plant Nutrition will leverage its
specialty in plant nutrition with a subset of Marrone’s novel
microbes, to create innovative products to enhance plant health and
growth. The result expected is new value-added products aimed at
providing growers with improved plant vigor, higher yields and a
better return on investment.
Microorganisms are known to control pests and
plant diseases, increase plant health, growth, crop yields and
reduce drought, salt and other stresses. One way that
microorganisms increase plant growth is by making nutrients such as
nitrogen, phosphorous, sulfur and minerals or micronutrients more
available to the plant. The availability of these nutrients
increases the efficiency of the plant’s nutrient uptake. This not
only helps farmers’ bottom line but can also be more
environmentally friendly by reducing the quantity of excess
nutrients that are not efficiently taken up by the plant.
“Compass Minerals Plant Nutrition is excited to
have access to the rich collection of Marrone Bio’s microorganisms
that have shown the ability to improve plant health and growth,”
said Ryan Bartlett, vice president of innovation and product
development at Compass Minerals. “This collaboration is an
important one as we continue to expand our season-long plant
nutrition portfolio and build on our history of innovation and
leadership in the category with this unique line of products.”
“We have been seeking ways to innovatively
leverage our microorganism collection and biologicals development
expertise into new and adjacent markets beyond crop protection such
as the $155 billion crop nutrition market,” said Pam Marrone, CEO
of Marrone Bio. “Leveraging our companies’ combined technologies’
and core competencies; we look forward to working with Compass
Minerals Plant Nutrition as a partner in the development of
exciting new products that don’t exist in the market today.”
About Marrone Bio
Innovations
Marrone Bio Innovations Inc. (NASDAQ: MBII)
leads 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 support a better tomorrow for farmers, turf managers and
consumers around the globe. 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 to rapidly develop seven effective and
environmentally responsible pest management products to help
customers operate more sustainably while uniquely improving plant
health and increasing crop yields. Supported by a robust portfolio
of over 400 issued and pending patents around its superior natural
product chemistry, MBI’s currently available commercial products
are Regalia®, Stargus®, Grandevo®, Venerate®, Majestene®, Haven®
and Amplitude®, Zelto® and Zequanox®.
Learn more about Marrone Bio Innovations at
www.marronebio.com. Follow us on social media: Twitter, LinkedIn
and Instagram.
MBII Forward-Looking
StatementsThis 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, including examples regarding the
potential of and market for MBI’s Regalia Maxx product and its use
and value to growers should not be relied upon as representing
MBI’s views as of any subsequent date. Examples of such statements
include the potential of the MBI’s products and product
combinations with Compass Minerals and market projections. 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.
About Compass Minerals Plant
NutritionCompass Minerals Plant Nutrition, a business
division of Compass Minerals, develops and manufactures a diverse
and global portfolio of essential plant nutrition solutions.
The company mines, manufactures and formulates the highest-quality
ingredients to maximize plant health and performance, above and
below ground, including sulfate of potash, dry dispersible
micronutrients, water soluble fertilizers, biologicals, and
seed-applied nutritional products. Through extensive research and
development, it delivers products to tackle adverse conditions so
that the result is healthier, higher-quality plants and yields
across every acre.
About Compass MineralsCompass
Minerals is a leading provider of essential minerals that
solve nature’s challenges, including salt for winter roadway safety
and other consumer, industrial and agricultural uses, and specialty
plant nutrition minerals that improve the quality and yield of
crops. The company produces its minerals at locations throughout
the U.S., Canada, Brazil and the U.K., operating 21 production
facilities and employing more than 3,000 personnel worldwide.
Compass Minerals’ mission is to be the best essential minerals
company by safely delivering where and when it matters.
Compass Minerals Forward-Looking
StatementsThis press release may contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements are based on Compass Minerals’
current expectations and involve risks and uncertainties that could
cause the company’s actual results to differ materially. The
differences could be caused by a number of factors including those
factors identified in the “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” sections of Compass Minerals’ Annual and Quarterly
Reports on Forms 10-K and 10-Q. Compass Minerals undertakes no
obligation to update any forward-looking statements made in this
press release to reflect future events or developments.
MBII Press ContactJay
Austinjaustin@prizimus.com914-980-7788
MBII Investor Relations Greg Falesnik, Managing
Director MZ Group – MZ North America Main: 949-385-6449
MBII@mzgroup.us www.mzgroup.us
Compass Minerals Plant Nutrition Media
Contact Marci Rhind 913-344-9449
rhindm@compassminerals.com
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