You are using an outdated browser. Please upgrade your browser to improve your experience.
ATESSA, Italy and DAVIS, Calif. – July 11, 2019 – Marrone Bio Innovations Inc. (the “Company” or “MBI”) (NASDAQ: MBII), a leading developer of bio-based products for pest management and plant health, today announced that it has entered into a strategic partnership to collaborate on research and development efforts with Valagro S.p.A, a leader in the production and commercialization of biostimulants and specialty nutrients.
The global, non-exclusive research collaboration will leverage a subset of Marrone Bio’s collection of 18,000 microorganisms in conjunction with Valagro’s biostimulant and plant nutrition products that enhance crop yield and quality. Products resulting from this partnership have the potential to enhance a grower’s productivity and return on investment with plants that develop better root systems, grow with more vigor and thrive under harsher growing conditions. Additonally, growers of specialty crops would have the potential to produce higher quality fruit that matures more quickly.
“As a leader in the plant biostimulants development space, Valagro is excited to combine our unique know-how acquired in the field of PBS and plant nutrition with Marrone Bio’s strength in microorganisms and biopesticides, addressing a $155 billion global plant nutrition market¹,” said Giuseppe Natale, Chief Executive Officer of Valagro. “This collaboration with the clear industry leader in bio-based products reinforces our global corporate positioning as a leading player in agricultural nutrition and biologicals - which includes biostimulants and biofertilizers - by integrating and delivering advanced products and value-added tech-based services to farmers globally. ”
“We strive to be the partner of choice with notable players in the global ag market such as Valagro,” said Dr. Pam Marrone, Chief Executive Officer of Marrone Bio Innovations. “This collaboration allows us new opportunities to further monetize our microorganism collection, applying our biologicals expertise into adjacent markets. The products from this partnership have the potential to provide growers with innovative new products addressing unmet needs.
“We have long known that MBI’s suite of innovative bio-based products work best in combination with complementary traditional and biological agricultural solutions, such as those from Valagro. Combining them into unique new products would provide growers with a better bottom line, and also increased sustainability. This partnership is an excellent example of our disciplined approach to research, which maximizes productivity, and leverages previously invested capital, thus conserving capital.”
As the collaboration matures, crops, uses and commercial terms will be defined for both parties.
¹ World Fertilizer Magazine