Marrone Bio Innovations and UPL Sign Exclusive Distribution Agreement for REGALIA® MAXX in the Republic of South Africa
DAVIS, Calif., June 09, 2020 (GLOBE NEWSWIRE) -- Marrone Bio Innovations, Inc. (NASDAQ: MBII) (MBI), an international leader in sustainable bioprotection and plant health solutions, today announced the signing of an exclusive commercial agreement with UPL to distribute REGALIA® MAXX Fungicide in the Republic of South Africa.
South Africa is one of the leading crop protection markets in Africa, valued at approximately $300 million, with a growing demand for biological solutions. Wine and table grapes are a top crop in South Africa, with more than 120,000 hectares in production. MBI’s REGALIA® MAXX has been a leading solution for grape growers in North America for its ability to manage botrytis and other grape diseases.
“We know growers around the world are looking for more environmentally-friendly and effective products,” said Kevin Hammill, chief commercial officer for Marrone Bio Innovations. “Developing a strategic partnership with UPL, an organization that shares a common vision for the value biologicals provide growers, will allow MBI to capitalize on our product portfolio and expand our global footprint.”
UPL is the fifth largest agriculture solutions company in the world with presence in 130 countries. Following the acquisition of Arysta Life science, UPL has become one of the leading crop protection companies in Republic of South Africa with a substantial market share.
Danie Marais, UPL’s Head of Marketing for Africa, Middle East, Australia and New Zealand (AMEANZ), added, “UPL is excited to partner with MBI and provide South African farmers with MBI’s leading biological solution, REGALIA MAXX®. Access to this product will enable our farmers to add value to their export crops by lowering chemical residues and providing consumers with quality produce. The introduction of REGALIA MAXX® to UPL’s bio-solutions product range is an excellent starting point, in what we anticipate to be a long, mutually beneficial and rewarding relationship between UPL and MBI.”
REGALIA® MAXX is MBI’s flagship biofungicide that improves yield and harvest quality by stimulating the plant’s ability to fight disease. The preventative nature of REGALIA® MAXX provides early control of a variety of plant diseases in over a dozen crops.
MBI has also submitted registration for their bioinsecticide GRANDEVO® in the Republic of South Africa.
About Marrone Bio Innovations
Marrone Bio Innovations Inc. (NASDAQ: MBII) is a growth-oriented company leading the movement to a more 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®, Pacesetter™, Zelto® Jet Oxide® and Jet Ag® and Zequanox®, with a next-generation insecticide-nematicide, a breakthrough bioherbicide and a 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 . We also use our investor relations website, , 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: , and .
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 Regalia Maxx in South Africa, weather, the novel coronavirus COVID-19, 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
1-530-750-2800
Investor Relations Contact:
Luke Zimmerman
Senior Vice President
MZ Group - MZ North America
949-259-4987
