tw0122
3 years ago
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.”
oxnous
3 years ago
Marrone Bio's Next-Generation Product for Environmentally Sustainable Pest Control Demonstrates Substantial Yield Gains in 2021 Field Trials
Estimated peak potential revenue for MBI-306 and its variants is $100 million
DAVIS, Calif., Dec. 08, 2021 — 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.
MinnieM
4 years ago
Just noticed a recent change in CEO.
https://ih.advfn.com/stock-market/NASDAQ/marrone-bio-innovations-MBII/stock-news/82924367/current-report-filing-8-k
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements for Certain Officers.
On July 24, 2020, Marrone Bio Innovations, Inc. (the “Company”) issued a press release announcing that Kevin Helash, a Canadian citizen, received a visa and, as such, his appointment as Chief Executive Officer and a Class III director of the Company will take effect on August 3, 2020 (the “Employment Date”). As previously disclosed, the Company’s founder, Dr. Pamela Marrone, will remain as the Company’s Chief Executive Officer until the Employment Date, and, as previously announced, will thereafter continue to serve as a non-employee director of and consultant to the Company.
A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
conix
6 years ago
Marrone Bio Innovations, Inc. Reports First-Quarter 2019 Financial Results
First-Quarter 2019 Revenues More Than Doubled to $8.7 Million, with Gross Margins of 57 Percent
DAVIS, Calif., May 09, 2019 (GLOBE NEWSWIRE) -- Marrone Bio Innovations, Inc. (MBII), an international leader in sustainable biopesticide and plant health solutions, has provided its financial results for the first quarter ended March 31, 2019.
Selected Operating and Financial Highlights
$ in millions Q1
2019 Q1
2018 % Increase
(Decrease)
Revenues $8.7 $4.3 102%
Gross Profit $5.0 $2.1 140%
Gross Margin 57.2% 48.1% +907 bps
Operating Expenses $8.6 $7.6 14%
Loss from Operations $(3.6) $(5.5) (34%)
Net Loss $(3.9) $(5.3) (25%)
Cash Used in Operations $7.7 $9.7 (22%)
Q1 2019 Financial Highlights
Revenues in the first quarter of 2019 improved by 102 percent to $8.7 million, compared with $4.3 million in the first quarter of 2018. The record quarterly sales were led by continued adoption of the Venerate family of products, both for foliar applications in vegetables and for soil- and seed-applied applications in row crops. Revenues also benefited from placement of Grandevo for in-season insect control in fruits and vegetables, as well as expanded market reach for Regalia to treat fungal diseases in trees, nuts and vines.
Gross margins reached 57.2 percent, benefiting from the higher net revenue and higher mix of the Venerate family of products and better manufacturing efficiencies.
The 14 percent increase in operating expenses reflected planned investments in the commercial organization and programs, and in field trials for key research and development projects, including a new proprietary biological herbicide. This increase was offset somewhat by a decrease in accounting and other professional consulting fees in the first quarter of 2019.
Net loss in the first quarter of 2019 was $3.9 million, or $(0.04) per share, compared with a net loss of $5.3 million, or $(0.07) per share, in the first quarter of 2018.
On a comparative basis, the first quarter of 2018 included a non-recurring net benefit of $1.8 million to other income related to the Company’s comprehensive financing and debt restructuring transactions. Additionally, the diluted weighted-average shares outstanding in the first quarter of 2019 were 110.7 million shares, compared with 74.6 million shares in the first quarter of 2018.
Cash used in operations for the first quarter of 2019 was $7.7 million, compared with cash used in operations of $9.7 million in the first quarter of 2018. The use of operating cash in the first quarter of 2019 reflected greater working capital requirements related to increased sales.
Management Commentary
“We have put a solid foundation in place – technically, commercially and financially – to drive revenue growth this year and set the stage for longer term growth. Our first-quarter results are a solid start to what we believe can be a transformative year for Marrone Bio,” said Dr. Pam Marrone, chief executive officer of Marrone Bio Innovations.
“As we broaden our customer outreach and distribution network, we expand our ability to sell our products for multiple uses within a given crop,” she added. “We have the technical flexibility to offer our products in combination with complementary traditional agricultural solutions or with other compatible biocontrol or biostimulant offerings, thus enhancing our revenue-generating capabilities.”
Operational Highlights
Regalia’s label in Brazil was expanded to control fungal and bacterial diseases on lettuces, carrots, papayas, mangoes, watermelons, sweet peppers and grapes.
Regalia Maxx biofungicide was approved for use on cannabis in Canada.
Distribution agreements for Regalia Maxx were reached with Plant Products, a full-service greenhouse supplier, for eastern and central Canada; and with TerraLink, a leading supplier of crop input products, for western Canada.
Venerate CG label was approved by the California Department of Pesticide Regulation (DPR) for use on cannabis.
conix
6 years ago
Marrone Bio Innovations, Inc. Reports First-Quarter 2019 Financial Results
First-Quarter 2019 Revenues More Than Doubled to $8.7 Million, with Gross Margins of 57 Percent
DAVIS, Calif., May 09, 2019 (GLOBE NEWSWIRE) -- Marrone Bio Innovations, Inc. (MBII), an international leader in sustainable biopesticide and plant health solutions, has provided its financial results for the first quarter ended March 31, 2019.
Selected Operating and Financial Highlights
$ in millions Q1
2019 Q1
2018 % Increase
(Decrease)
Revenues $8.7 $4.3 102%
Gross Profit $5.0 $2.1 140%
Gross Margin 57.2% 48.1% +907 bps
Operating Expenses $8.6 $7.6 14%
Loss from Operations $(3.6) $(5.5) (34%)
Net Loss $(3.9) $(5.3) (25%)
Cash Used in Operations $7.7 $9.7 (22%)
Q1 2019 Financial Highlights
Revenues in the first quarter of 2019 improved by 102 percent to $8.7 million, compared with $4.3 million in the first quarter of 2018. The record quarterly sales were led by continued adoption of the Venerate family of products, both for foliar applications in vegetables and for soil- and seed-applied applications in row crops. Revenues also benefited from placement of Grandevo for in-season insect control in fruits and vegetables, as well as expanded market reach for Regalia to treat fungal diseases in trees, nuts and vines.
Gross margins reached 57.2 percent, benefiting from the higher net revenue and higher mix of the Venerate family of products and better manufacturing efficiencies.
The 14 percent increase in operating expenses reflected planned investments in the commercial organization and programs, and in field trials for key research and development projects, including a new proprietary biological herbicide. This increase was offset somewhat by a decrease in accounting and other professional consulting fees in the first quarter of 2019.
Net loss in the first quarter of 2019 was $3.9 million, or $(0.04) per share, compared with a net loss of $5.3 million, or $(0.07) per share, in the first quarter of 2018.
On a comparative basis, the first quarter of 2018 included a non-recurring net benefit of $1.8 million to other income related to the Company’s comprehensive financing and debt restructuring transactions. Additionally, the diluted weighted-average shares outstanding in the first quarter of 2019 were 110.7 million shares, compared with 74.6 million shares in the first quarter of 2018.
Cash used in operations for the first quarter of 2019 was $7.7 million, compared with cash used in operations of $9.7 million in the first quarter of 2018. The use of operating cash in the first quarter of 2019 reflected greater working capital requirements related to increased sales.
Management Commentary
“We have put a solid foundation in place – technically, commercially and financially – to drive revenue growth this year and set the stage for longer term growth. Our first-quarter results are a solid start to what we believe can be a transformative year for Marrone Bio,” said Dr. Pam Marrone, chief executive officer of Marrone Bio Innovations.
“As we broaden our customer outreach and distribution network, we expand our ability to sell our products for multiple uses within a given crop,” she added. “We have the technical flexibility to offer our products in combination with complementary traditional agricultural solutions or with other compatible biocontrol or biostimulant offerings, thus enhancing our revenue-generating capabilities.”
Operational Highlights
Regalia’s label in Brazil was expanded to control fungal and bacterial diseases on lettuces, carrots, papayas, mangoes, watermelons, sweet peppers and grapes.
Regalia Maxx biofungicide was approved for use on cannabis in Canada.
Distribution agreements for Regalia Maxx were reached with Plant Products, a full-service greenhouse supplier, for eastern and central Canada; and with TerraLink, a leading supplier of crop input products, for western Canada.
Venerate CG label was approved by the California Department of Pesticide Regulation (DPR) for use on cannabis.
NYOptionsGuy
6 years ago
Marrone Bio Innovations Unveils New Cannabis Crop Protection Products
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/06/04/MBII-Marrone-Bio-Innovations-Unveils-New-Cannabis-Crop-Protection-Products
DAVIS, Calif., June 04, 2018 (GLOBE NEWSWIRE) -- Marrone Bio Innovations, Inc. (NASDAQ:MBII) (MBI), a leading provider of bio-based pest management and plant health products for the agriculture, turf and ornamental and water treatment markets, is pleased to announce the launch of REGALIA CG, GRANDEVO CG and VENERATE CG, a portfolio of products designed to control highly destructive pests and diseases, including powdery mildew, mites, thrips and aphids, during Cannabis production and home gardening.
REGALIA CG, GRANDEVO CG and VENERATE CG are multi-state-approved and extremely effective biological crop protection solutions for clean green cultivation, with the ability to generate increased yield and improved quality by reducing stresses from plant disease and insect and mite pests to the plant. When incorporated into an Integrated Pest Management (IPM) program, these products can serve as the fundamental difference for successful growers.
"GRANDEVO and VENERATE are a game changer when it comes to IPM programs,” said Kyle Stamback, Director of Cultivation at NorthWestGrown i502 and owner of Lean Cultivation LLC. “I have eliminated all other preventive sprays and only use Grandevo and Venerate. These products have kept my gardens clean and my beneficial bugs happy. I’ve seen great results against all types of malice bugs, from leaf eaters to root aphids."
“REGALIA has been considered the go-to product for powdery mildew control in the Cannabis industry,” said Kyle. “When using Regalia on a consistent schedule, I have documented increased vigor and stalk size. Due to the overall plant health, my yields have been remarkable. As a result of tank mixing Regalia and other great products offered by MBI, my plants have never been healthier and my IPM has never been simpler.”
REGALIA CG, GRANDEVO CG and VENERATE CG also help grow operations care for their employees and the environment. They are harvest flexible and worker-friendly with a four-hour re-entry interval, minimal personal protective equipment requirements and the ability to be used right before harvest without concern for synthetic chemical residues.
“Outreach to hundreds of growers and industry leaders helped MBI create a solution that addresses needs in information sharing, education and training, ultimately producing products they can use with confidence backed by science,” said Lisa Malabad, Cannabis Segment Lead at Marrone Bio Innovations. “We continue to work with state regulatory agencies to ensure each of our products is aligned with all requirements and guidelines, giving growers peace of mind.”
REGALIA CG and VENERATE CG are available in one quart and one-gallon sizes. Grandevo CG is available in one and four-pound packages.
About Marrone Bio Innovations
Bio With Bite.
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 crop protection and plant health. MBI’s effective and environmentally responsible pest management solutions help customers operate more sustainably while uniquely improving plant health and increasing crop yields. MBI’s currently available commercial products are Regalia®, Grandevo®, Venerate®, Majestene®, Haven® StargusTM and AmplitudeTM, Zelto® and Zequanox®.
Marrone Bio Innovations is dedicated to pioneering smart biopesticide solutions that support a better tomorrow for both farmers, turf managers and consumers 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 Regalia, Grandevo and Venerate CG and other MBI products in the US and Canada, market projections, including the potential benefits of Regalia CG. 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 consumer, 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.
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