Marrone Bio Achieves Excellent Climate Impact Score for Venerate® XC Bioinsecticide
Marrone Bio Innovations (NASDAQ: MBII) has released a climate impact assessment of its Venerate® XC Bioinsecticide, achieving a score of 8.6 out of 10. The assessment reviewed its effects on soil health, aquatic life, and human safety, emphasizing its low toxicity and biodegradability. Notably, the company will switch its production to renewable energy, reducing greenhouse gas emissions by 32%. This product is crucial for Marrone Bio, as it anticipates increased market share and revenue growth with pending regulatory approvals, particularly in Brazil.
- Venerate XC scored 8.6 out of 10 on its climate impact assessment, indicating strong environmental performance.
- Switching to all-renewable energy in production will reduce greenhouse gas emissions by 32%.
- Pending regulatory approvals in multiple countries, including Brazil, could enhance market share and revenue growth.
- None.
DAVIS, Calif., Nov. 17, 2021 (GLOBE NEWSWIRE) -- Marrone Bio Innovations, Inc. (NASDAQ: MBII) (MBI), an international leader in sustainable bioprotection and plant health solutions published today their independent climate impact product assessment on Venerate® XC Bioinsecticide, scoring a 8.6 out of 10. The analysis evaluated the life-cycle inputs and impacts of Venerate XC per acre on the following: soil, aquatic and human toxicity, ecosystem impact, harmful materials, greenhouse gas (GHG) emissions and carbon return on investment (CROI).
“MBI is committed to providing farmers with the most effective products that not only produce healthier, more robust crops, but also meet the increasing demand for more sustainably grown goods,” stated Kevin Helash, chief executive officer for Marrone Bio Innovations. “This third party analysis provides an excellent opportunity to showcase the value we bring to all stakeholders.”
One of the key learnings from this product analysis was the amount of electricity and steam required to produce Venerate XC. The result was a decision to switch Marrone Bio’s manufacturing facility in Bangor, Michigan to all-renewable energy this fall, a move that reduced the amount of greenhouse gas emissions the product generates by
A new element to this study was the addition of a soil health metric; a key indicator of overall crop vigor and an area of focus in present-day sustainable farming systems and regenerative agricultural practices. The analysis showed Venerate XC is non-toxic to earthworms and other soil-dwelling beneficial organisms, and is readily biodegradable in the soil. The product’s low toxicity is also demonstrated in its safety to humans and aquatic life, key attributes that allowed Venerate XC to score an 8.6 out of 10 on climate impact.
Venerate XC Bioinsecticide, a top revenue-generator for Marrone Bio, is a novel, broad spectrum proprietary microbe (Burkholderia rinojensis strain A396) that is active against a wide range of yield-robbing insects and mites. It is approved for use in the U.S. and internationally on a wide range of crops including almonds, grapes, strawberries, pome fruit and leafy greens. Marrone Bio anticipates that this climate impact assessment and pending regulatory approvals in a number of countries, including Brazil, will allow Venerate XC to gain market share globally and serve as a key contributor to revenue growth in the coming years.
“The future of agriculture is dependent not only on the best technology and most economical farming practices, but also on our ability to preserve and protect the natural resources in which our businesses rely,” added Keith Pitts, chief sustainability officer for Marrone Bio Innovations. “Measuring our environmental impact and understanding how it can improve our manufacturing processes and product performance, while adding value throughout the industry, is a key objective of commissioning these third-party climate impact assessments. We want to lead the way in providing innovative agriculture solutions that help farmers run a more sustainable and profitable business while also becoming suppliers of choice to the customers they serve.”
This is the second climate impact study Marrone Bio has conducted with the help of Boundless Impact Research & Analytics. The first product analysis was on the company’s BIOSt Nematicide seed treatment that scored an impressive 9.8 out of 10, reducing greenhouse gas (GHG) emissions by 85 percent in soybeans and 87 percent in corn compared with conventional pesticides.
1. Research Methodology Overview
Boundless researched the material, energy and performance characteristics for Venerate XC Bioinsecticide based on detailed information provided by MBI that describes the material components and energy inputs. At the core of the methodology is a life-cycle assessment (LCA) model for a kilogram of Venerate XC Bioinsecticide. The functional unit (FU) for this LCA was a million seeds treated with nematicide. Boundless employed the IPCC 2013 methodology.
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.
Marrone Bio Innovations Forward Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements 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 the company’s views as of any subsequent date. Examples of such statements include financial guidance on Venerate XC and other statements regarding the company’s future revenue growth, margins, operating expenses, and other financial results; adoption of the company’s products; and the potential benefits and value of the company’s products. 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 recent uncertainty in the global economy and industry-specific economy caused by the COVID-19 pandemic, consumer, regulatory and other factors affecting demand for the company’s products, any difficulty in expanding the company’s sales and marketing infrastructure or marketing the company’s products in global markets, competition in the market for pest management products, such as Venerate XC, lack of understanding of bio-based pest management products by customers and growers, adverse actions by distributors, manufacturers, regulatory agencies and other relevant third parties and costs associated with any strategic acquisitions or other business opportunities we elect to pursue. Additional information that could lead to material changes in the company’s performance is contained in its filings with the Securities and Exchange Commission. The company 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 new information, future events or otherwise.
Marrone Bio Innovations Contact:
Clyde Montevirgen
Vice President of Business Development & Investor Relations
Telephone: 530-750-2800
info@marronebio.com
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