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OVERLAND PARK, Kan. and DAVIS, Calif., May 16, 2019 (GLOBE NEWSWIRE) -- Compass Minerals Plant Nutrition, a division of Compass Minerals (NYSE:CMP), a leading developer and manufacturer of specialty plant nutrition solutions, and Marrone Bio Innovations Inc. (NASDAQ:MBII), a leading developer of bio-based products for pest management and plant health, today announced that the two companies have formed a collaboration to develop new specialty plant nutrient products enhanced with microorganisms. The new products will be developed with patented technologies aimed at helping crops take up nutrients more efficiently, to increase crop health and reduce crop stress.
From Marrone Bio’s collection of 18,000 microorganisms, Compass Minerals Plant Nutrition will leverage its specialty in plant nutrition with a subset of Marrone’s novel microbes, to create innovative products to enhance plant health and growth. The result expected is new value-added products aimed at providing growers with improved plant vigor, higher yields and a better return on investment.
Microorganisms are known to control pests and plant diseases, increase plant health, growth, crop yields and reduce drought, salt and other stresses. One way that microorganisms increase plant growth is by making nutrients such as nitrogen, phosphorous, sulfur and minerals or micronutrients more available to the plant. The availability of these nutrients increases the efficiency of the plant’s nutrient uptake. This not only helps farmers’ bottom line but can also be more environmentally friendly by reducing the quantity of excess nutrients that are not efficiently taken up by the plant.
“Compass Minerals Plant Nutrition is excited to have access to the rich collection of Marrone Bio’s microorganisms that have shown the ability to improve plant health and growth,” said Ryan Bartlett, vice president of innovation and product development at Compass Minerals. “This collaboration is an important one as we continue to expand our season-long plant nutrition portfolio and build on our history of innovation and leadership in the category with this unique line of products.”
“We have been seeking ways to innovatively leverage our microorganism collection and biologicals development expertise into new and adjacent markets beyond crop protection such as the $155 billion crop nutrition market,” said Pam Marrone, CEO of Marrone Bio. “Leveraging our companies’ combined technologies’ and core competencies; we look forward to working with Compass Minerals Plant Nutrition as a partner in the development of exciting new products that don’t exist in the market today.”
About Marrone Bio Innovations
Marrone Bio Innovations Inc . (NASDAQ: MBII) leads 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 support a better tomorrow for farmers, turf managers and consumers around the globe. 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 to rapidly develop seven effective and environmentally responsible pest management products to help customers operate more sustainably while uniquely improving plant health and increasing crop yields. Supported by a robust portfolio of over 400 issued and pending patents around its superior natural product chemistry, MBI’s currently available commercial products are Regalia®, Stargus®, Grandevo®, Venerate®, Majestene®, Haven® and Amplitude®, Zelto® and Zequanox®.
MBII 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, including examples regarding the potential of and market for MBI’s Regalia Maxx product and its use and value to growers should not be relied upon as representing MBI’s views as of any subsequent date. Examples of such statements include the potential of the MBI’s products and product combinations with Compass Minerals and market projections. 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 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.
About Compass Minerals Plant Nutrition
Compass Minerals Plant Nutrition , a business division of Compass Minerals, develops and manufactures a diverse and global portfolio of essential plant nutrition solutions. The company mines, manufactures and formulates the highest-quality ingredients to maximize plant health and performance, above and below ground, including sulfate of potash, dry dispersible micronutrients, water soluble fertilizers, biologicals, and seed-applied nutritional products. Through extensive research and development, it delivers products to tackle adverse conditions so that the result is healthier, higher-quality plants and yields across every acre.
About Compass Minerals
Compass Minerals is a leading provider of essential minerals that solve nature’s challenges, including salt for winter roadway safety and other consumer, industrial and agricultural uses, and specialty plant nutrition minerals that improve the quality and yield of crops. The company produces its minerals at locations throughout the U.S., Canada, Brazil and the U.K., operating 21 production facilities and employing more than 3,000 personnel worldwide. Compass Minerals’ mission is to be the best essential minerals company by safely delivering where and when it matters.
Compass Minerals Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on Compass Minerals’ current expectations and involve risks and uncertainties that could cause the company’s actual results to differ materially. The differences could be caused by a number of factors including those factors identified in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Compass Minerals’ Annual and Quarterly Reports on Forms 10-K and 10-Q. Compass Minerals undertakes no obligation to update any forward-looking statements made in this press release to reflect future events or developments.
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