Marrone Bio’s Next-Generation Product for Environmentally Sustainable Pest Control Demonstrates Substantial Yield Gains in 2021 Field Trials
December 08 2021 - 8:00AM
Field trials in 2021 for Marrone Bio Innovations’ (NASDAQ: MBII)
next-generation product for environmentally sustainable control of
yield-robbing pests in corn and soybeans demonstrated excellent
efficacy with substantial yield gains at reduced application rates.
“MBI-306 continues to demonstrate the benefits that farmers and
consumers desire in healthier foods grown with a lighter
environmental footprint,” said Marrone Bio’s Chief Executive
Officer Kevin Helash. “This second-generation product offers
growers a more sustainable solution to controlling pests with
better yields. Additionally, with a reduced application rate,
MBI-306 will be even more competitive against leading synthetic
standards in terms of efficacy, price and ease of use.” Helash
added, “We anticipate MBI-306 and its variants will generate a peak
potential revenue of $100 million, providing valuable return to our
stakeholders as well.”
MBI-306 will offer corn growers a new alternative in treating
for corn rootworm, a pest that accounts for more than $1 billion of
crop damage annually1. When tested as a seed treatment to control
corn rootworm larvae, MBI-306 improved corn yields by up to 23
bushels per acre, a 14% increase when compared with untreated seed.
This bioinsecticide also outperformed the leading commercial
standard, delivering a 4% yield advantage. These yield gains equate
to an estimated return on investment of $131 per acre versus
untreated seed and $41 per acre versus current commercial
products.
Similar benefits were demonstrated against soybean cyst
nematode, the leading pest in soybeans and contributor to more than
$1 billion in crop damage2. As a seed treatment, MBI-306 increased
soybean yields by 11 bushels an acre, a 19% improvement and $130
per acre in additional revenue versus untreated seed. This novel
bionematicide also showed excellent control with 6% higher yields
when compared with commonly used treatments, providing growers an
additional $47 per acre in returns.
Marrone Bio is an international leader in sustainable
bioprotection and plant health solutions, with 18 commercial
products and 15 products in its research and development pipeline,
including MBI-306. MBI-306 is a second-generation novel
bioinsecticide/bionematicide built on the same proprietary microbe
that serves as the active ingredient in the company’s Venerate® XC
Bioinsecticide and Majestene® Bionematicide.
MBI-306 was recently submitted to the U.S. Environmental
Protection Agency for approval and is anticipated to be
commercially available for the 2023/2024 growing season. It has
shown to be non-toxic to humans, wildlife, aquatic life, earthworms
and pollinators.
MBI-306 also was tested in 2021 as a soil treatment, or
in-furrow, for control of corn rootworm larvae, with an average
yield advantage of more than 21 bushels per acre versus no
treatment. Additional data on this and other 2021 field trial
results can be found on the company’s blog
https://marronebio.com/news/bio-bites/.
Sources
- Utah State University Extension
- University of Minnesota
Extension
About Marrone Bio
Innovations
Marrone Bio Innovations Inc. (NASDAQ: MBII)
is a growth-oriented agricultural company leading the movement to
environmentally sustainable farming practices through the
discovery, development and sale of innovative biological products
for crop protection, crop health and crop nutrition. Our portfolio
of 18 products helps customers operate more sustainably while
increasing their return on investment. The company’s commercial
products are sold globally and supported by a robust portfolio of
more than 500 issued and pending patents. Our end markets
include row crops; fruits and vegetables; trees, nuts and vines;
and greenhouse production. Marrone Bio’s research and development
program uses proprietary technologies to isolate and screen
naturally occurring microorganisms and plant extracts to create
new, environmentally sound solutions in agriculture.
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 within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve substantial risks and
uncertainties. All statements, other than statements of historical
facts, included in this press release regarding strategy, product
development, future operations and plans, including assumptions
underlying such statements, are forward-looking statements, and
should not be relied upon as representing the company’s views as of
any subsequent date. Examples of such statements include financial
guidance and other statements regarding the company’s future
revenue growth, margins, operating expenses, and other financial
results; adoption of the company’s products; and the potential
benefits and value of the company’s products. 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 the recent uncertainty in the
global economy and industry-specific economy caused by the COVID-19
pandemic, consumer, regulatory, weather and other factors affecting
demand for the company’s products, any difficulty in expanding the
company’s sales and marketing infrastructure or marketing the
company’s products in global markets, competition in the market for
pest management products, lack of understanding of bio-based pest
management products by customers and growers, adverse actions by
distributors, manufacturers, regulatory agencies and other relevant
third parties. Additional information that could lead to material
changes in the company’s performance is contained in its filings
with the Securities and Exchange Commission. The company 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:Clyde
MontevirgenVice President of Business Development & Investor
RelationsTelephone: 530-750-2800info@marronebio.com
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