Marrone Bio Innovations Receives EPA Registration for New Biofumigant
November 28 2016 - 8:30AM
Business Wire
Marrone Bio Innovations, Inc. (MBI), (NASDAQ:MBII), a leading
global provider of bio-based pest management and plant health
products for the agriculture and water treatment markets, announced
today that the Company has received registration of MBI-601 EP, a
biofumigant, from the United States Environmental Protection Agency
(EPA) Biopesticide Pollution Prevention Division (BPPD).
This new product controls and suppresses plant parasitic
nematodes, insect pests and soil-borne plant diseases in
agricultural and horticultural soils. The active ingredient, a
strain of Muscodor albus, produces volatile compounds that either
kill or inhibit the growth of certain destructive nematodes, pest
insects, and also plant diseases such as Fusarium root rot, damping
off, southern blight and Verticillium wilt. In addition to soil
applications, MBI believes this novel microbe will have further use
for turf, forestry seedlings, post-harvest application and in the
seed treatment market.
Field trials using this novel biofumigant show increased yields
in treated strawberries, lettuce and other crops. MBI’s initial
focus for the product will be for California strawberry crops for
which there is a critical need for additional solutions to control
soil disease, nematodes and insects.
Soil fumigants have been valuable, economically beneficial tools
in protecting crops worldwide. However, many fumigants have been
restricted or removed from the market due to environmental concerns
as well as their risk to the health of farmworkers and the general
public. According to marketsand markets, the global fumigant market
is approximately $1.4 billion and the U.S. fumigant market was
estimated at $625 million in 2016.
Pam Marrone, MBI’s Chief Executive Officer and Founder, said “We
are excited to again have harnessed novel technology to fill a
costly gap that leaves growers of high value fruits, nuts, vines,
vegetables, and ornamentals with few solutions. The opportunities
for this new biofumigant further validate our strategy to develop a
broad suite of products that addresses a wide range of unmet market
needs. We believe MBI-601 can enable growers to avoid the losses
they endure because of unfortunately necessary restrictions on
chemical fumigants.”
The Company noted that MBI-601 EP has also been determined by
the US EPA to be USDA National Organic Program compliant.
Concurrent with the US EPA registration, the Organic Materials
Research Institute (OMRI) has listed MBI-601 EP for use in organic
farming.
The new genus and species, Muscodor albus, and many of its
strains, were discovered by Dr. Gary Strobel, Professor Emeritus at
Montana State University.
About Marrone Bio Innovations
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. We
market 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 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 statements regarding the potential of and market for MBI’s
biofumigant product and its use and value to growers. 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 risks
associated with marketing MBI’s biofumigant with MBI’s principal
customers, competition in the market for pest management products,
lack of understanding of bio-based pest management products by
customers and growers, adverse decisions by regulatory agencies and
other relevant third parties and the impact of weather conditions
and other factors affecting use of crop protection products.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20161128005295/en/
Marrone Bio Innovations, Inc.Nancy M. Hood, VP
Marketing530-302-8290nhood@marronebio.comorMBI
Investors:James Palczynski, ICR+1
203-682-8229James.Palczynski@icrinc.com
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