Growers in Europe will have access to a novel, sustainable option
for enhancing plant health and crop quality through a new agreement
between Pro Farm Technologies, a subsidiary of Marrone Bio
Innovations, Inc. (MBI) (NASDAQ: MBII) and Corteva Agriscience
(NYSE: CTVA). Under the agreement, Corteva will be the exclusive
European distributor for Kinsidro® Grow, a novel, foliar
bionutrient that delivers key nutrients resulting in increased
plant vigor.
“This agreement combines Marrone Bio’s leadership in the
development of biological, sustainable crop solutions with
Corteva’s global market leadership. Working with Corteva, we will
bring our game-changing foliar technology to European growers who
know and trust Corteva,” said Kevin Helash, chief executive officer
of Marrone Bio Innovations.
Kinsidro Grow is a proprietary product developed by Pro Farm
Technologies that optimizes nutrient conditions in plants resulting
in improved plant health and crop quality. Through foliar
application on crops during the vegetative growth stage, the
bionutrient delivers better yields and more favorable returns on
investment. Kinsidro Grow is also easy to use and compatible with a
grower’s current agronomic practices.
“Corteva Agriscience continues to bring new and innovative
solutions to market by offering natural-origin products that
improve crop performance, resilience, and work complementarily with
our conventional crop protection solutions,” said Susanne Wasson,
President, Crop Protection Business Platform, Corteva Agriscience.
“We’re excited to work with Marrone Bio to scale up and maximize
sustainable options that help farmers meet changing environmental
conditions while keeping their crops productive and healthy.”
This collaboration represents another step forward for Corteva’s
expanding global biologicals portfolio, which is dedicated to
developing biostimulants, biofertilizers, bionutrients, biocontrol
and pheromone products with proven, predictable performance.
Kinsidro Grow will provide value through enhanced crop vitality and
enhancing yield potential and sustainability, in line with the
Corteva Agriscience 2030 Sustainability Goals.
The multi-year agreement, which goes into immediate effect,
applies to European row crops such as corn, soybeans, wheat, and
cotton, and builds on the successful seed treatment agreement
between both companies. In 2021, Pro Farm Technologies’ novel
micronutrient seed treatment and growth promoter, Lumidapt®, was
applied on more than 10 million Pioneer® corn, winter rapeseed, and
sunflower seed hectares (25 million acres).
Marrone Bio’s Senior Vice-President of International Sales Matti
Tianen added: “Corteva has a strong pulse on the needs of farmers
throughout the region and is uniquely positioned to deliver our
breakthrough fertilizer technology. We have spent a significant
amount of time securing regulatory approvals and building technical
sales knowledge, so we are ready to hit the ground running. We
anticipate this partnership will be a material portion of our
foliar fertilizer sales starting in the 2022 growing season.”
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
StatementsThis 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 biofertilizer products; and the
potential benefits and value of the company’s biofertilizer
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 biofertilizer
products, lack of understanding of bio-based crop health 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
About Corteva AgriscienceCorteva Agriscience is
a publicly traded, global pure-play agriculture company that
provides farmers around the world with the most complete portfolio
in the industry – including a balanced and diverse mix of seed,
crop protection and digital solutions focused on maximizing
productivity to enhance yield and profitability. With some of the
most recognized brands in agriculture and an industry-leading
product and technology pipeline well positioned to drive growth,
the company is committed to working with stakeholders throughout
the food system as it fulfills its promise to enrich the lives of
those who produce and those who consume, ensuring progress for
generations to come. Corteva Agriscience became an independent
public company on June 1, 2019 and was previously the Agriculture
Division of DowDuPont. More information can be found
at www.corteva.com.
Follow Corteva Agriscience
on Facebook, Instagram, LinkedIn, Twitter and YouTube.
Media contactJózsef MátéHead of Communications,
EuropeTel: +41 22 775 36 70Mob: +41 79 597
2709jozsef.mate@corteva.com
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