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DAVIS, Calif., Oct. 01, 2019 (GLOBE NEWSWIRE) -- Marrone Bio Innovations Inc. (NASDAQ: MBII) (MBI), an international leader in sustainable bioprotection and plant health solutions, today announced that its novel Bacillus Biofungicide, marketed in the U.S. as Stargus® for specialty crops, was approved for use in Mexico by the Ministry of Health COFEPRIS. Stargus will be used in Mexico to control downy mildews, late blight and a broad range of other plant related diseases on zucchini, squash, chayote, melon, cucumber, watermelon and potato crops.
According to the United States Department of Agriculture (USDA), in 2016, the U.S. imported more than $12 billion in fruit and vegetables from Mexico. Mexico is the largest foreign supplier of vegetables and fruits in the United States, and Stargus will be available to Mexican farmers to utilize on their own crops in the upcoming growing season.
The active ingredient in Stargus, recognized by the Ministry of Health as a reduced risk biological pesticide due to its low toxicity profile, is a new strain of Bacillus amyloliquefaciens that has been recently reclassified as Bacillus nakamurai by taxonomists. Stargus is unique in its high performance on downy mildews, white molds, Fusarium and Botrytis gray mold, which are particularly difficult to control. The market for effective and environmentally friendly products is growing at a rate of 10-20 percent per year. When integrated into crop production and pest management programs, biologicals – including Stargus – can offer farmers higher-quality crops and better yields than conventional programs alone.
“As a major fresh fruit and vegetable producer and our nation’s largest supplier of seasonal crops, Mexico is a critical market for MBI to enter with innovative products like Stargus,” said Dr. Pamela Marrone, Founder and Chief Executive Officer of Marrone Bio Innovations. “With the Canadian approval of Stargus earlier this year and this recent approval in Mexico, MBI has significantly expanded our international reach with key U.S. trading partners. This is a real growth opportunity for Marrone Bio, and we are thrilled that Stargus is approved and will be ready to use in the key upcoming Mexican growing season.”
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®, Zelto® Jet Oxide® and Jet Ag® and Zequanox®, with a breakthrough bioherbicide and biofumigant in the Company’s product pipeline. MBI also recently completed the acquisition of Pro Farm Finland-based Pro Farm’s technology employs a proprietary technology derived from wood waste to stimulate plant growth and improve plant health, resulting in improved yields and crop quality.
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. Examples of such statements include the potential of Stargus in the Mexico market. 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.
Marrone Bio Innovations Contacts:
Pam Marrone, CEO and Founder
Telephone: +1 (530) 750-2800
Investor Relations Contact:
Greg Falesnik, Managing Director
MZ Group – MZ North America