Marrone Bio Innovations Announces U.S. EPA Approval of Regalia® and Stargus® for Hemp
January 07 2020 - 08:31AM
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
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, 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 FounderTelephone: +1 (530) 750-2800Email:
Info@marronebio.com
Investor Relations Contact:Greg Falesnik,
Managing DirectorMZ Group – MZ North AmericaMain:
949-385-6449MBII@mzgroup.uswww.mzgroup.us
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