DAVIS, Calif., April 07, 2020 (GLOBE NEWSWIRE) — Marrone Bio Innovations Inc. (NASDAQ: MBII), an international leader in sustainable bioprotection and plant health solutions, today announced that Pacesetter™, a recently approved bio-based plant health product, is now available to corn, soybean and wheat growers in the United States.
Pacesetter acts synergistically with conventional fungicides to improve plant health and vigor, increasing yield by up to seven bushels per acre in soybeans and 13 bushels per acre in corn. The active ingredient in Pacesetter is a plant extract from Reynoutria sachalinensis, a compound that delivers multiple modes of action. When used with conventional fungicides, Pacesetter promotes root growth, and increases chlorophyll production in the crop, resulting in yield increases beyond that of a grower’s standard fungicide program. This foliar plant health product is the newest addition to MBI’s BioUnite™ portfolio, a science-based integrated pest management program that harnesses the power of biology with the performance of chemistry.Pacesetter Field TrialsTwenty-four corn and soybean field trials were conducted in the Midwest during the 2019 crop year to assess the performance of Pacesetter when added to a grower’s standard fungicide program. The results have been positive; notably in soybeans where 82% of the time, when combined with a conventional fungicide, Pacesetter achieved higher yields than the grower’s standard fungicide program alone.When Pacesetter’s 2019 soybean yield was combined with testing data from prior years, the yield was improved by an average of nearly four percent compared to the grower’s standard fungicide program without the use of Pacesetter. These results represent a 71% win rate and a four to one return on investment.In corn, when the 2019 yield of Pacesetter was combined with testing data from prior years, the average yield increase was four bushels per acre versus the grower’s standard fungicide program without the use of Pacesetter. The return on investment was particularly significant for corn in yield-challenging environments where results showed a 6.25 bushels per acre increase.“BioUnite™ increases value to growers by offering an integrated crop management program that increases yield and return on investment,” said Kevin Hammill, Chief Commercial Officer of Marrone Bio Innovations. “Pacesetter is the latest example of MBI providing incremental value to its customers through a strong portfolio of plant health products.”Pacesetter, the newest addition to MBI’s biological product portfolio, received EPA approval in February 2020 and will be commercially available for the 2020 growing season, pending state approvals.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^®, Pacesetter™, Zelto^® Jet Oxide^® and Jet Ag^® and Zequanox^®, with a breakthrough bioherbicide and biofumigant in the Company’s product pipeline. MBI’s Pro Farm 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, Foramin^®, UBP™ Seed Treatment, Foramin^® ST.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 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. 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 potential of Pacesetter in row crops, 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 Contact:
Kevin Hammill, Chief Commercial Officer
[email protected]
1-530-750-2800Investor Relations Contact:
Greg Falesnik, Managing Director
MZ Group – MZ North America
Main: 949-385-6449
[email protected]
www.mzgroup.usPhotos accompanying this announcement are available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/4236318a-7df1-47e3-a03f-c44557d190bbhttps://www.globenewswire.com/NewsRoom/AttachmentNg/9010ba32-e2b3-4abd-8762-9b54ae712fd4
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