Marrone Bio and Corteva Agriscience Announce New Distribution Contract
Marrone Bio Innovations (MBII) and Corteva Agriscience have formed a multi-year agreement for the exclusive distribution of Kinsidro® Grow, a novel foliar bionutrient, in Europe. This partnership aims to enhance plant health and crop quality by optimizing nutrient conditions during the vegetative growth stage. The product, which builds on a previous seed treatment collaboration, is expected to improve crop yields and ROI for European row crops including corn, soybeans, and wheat. The agreement is set to take effect immediately, supporting sustainable farming practices.
- Exclusive distribution agreement for Kinsidro® Grow enhances market reach in Europe.
- Potential for improved crop yields and ROI due to the innovative bionutrient technology.
- Supports sustainable farming, aligning with Corteva's 2030 Sustainability Goals.
- None.
The companies build on existing seed treatment partnership to offer novel foliar bionutrient
GENEVA and RALEIGH, N.C., Feb. 15, 2022 (GLOBE NEWSWIRE) -- Growers in Europe will have access to a novel, sustainable option for enhancing plant health and crop quality through a new agreement between 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.”
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, product development, 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 and other statements regarding the company’s future revenue growth, margins, operating expenses, and other financial results; adoption of the company’s biofertilizer products; and the potential benefits and value of the company’s biofertilizer 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, weather 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 biofertilizer products, lack of understanding of bio-based crop health products by customers and growers, adverse actions by distributors, manufacturers, regulatory agencies and other relevant third parties. 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
About Corteva Agriscience
Corteva Agriscience is a publicly traded, global pure-play agriculture company that provides farmers around the world with the most complete portfolio in the industry – including a balanced and diverse mix of seed, crop protection and digital solutions focused on maximizing productivity to enhance yield and profitability. With some of the most recognized brands in agriculture and an industry-leading product and technology pipeline well positioned to drive growth, the company is committed to working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. Corteva Agriscience became an independent public company on June 1, 2019 and was previously the Agriculture Division of DowDuPont. More information can be found at www.corteva.com.
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Media contact
József Máté
Head of Communications, Europe
Tel: +41 22 775 36 70
Mob: +41 79 597 2709
jozsef.mate@corteva.com
FAQ
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