Marrone Bio Innovations Signs Exclusive Distribution Agreement with Kenya Biologics Ltd. for Kenya and Tanzania
19 October 2017 - 12:00AM
Marrone Bio Innovations, Inc. (NASDAQ:MBII), (MBI), a leading
provider of bio-based pest management and plant health products for
agriculture, turf, water treatment and ornamental markets, has
signed an exclusive distribution agreement with Kenya Biologics Ltd
(KBL) to bring MBI’s biopesticides to Kenya and Tanzania.
These new markets represent notable
opportunities for MBI’s portfolio of biopesticides. Kenya is the
second largest exporter of French beans and peas to the EU, as well
as a key supplier of roses globally. Farmers in Kenya rely heavily
on low residue crop protection methods in order to comply with
strict EU regulations on imports, which has created notable need
for effective biological pest control solutions1.
“Our expansion into Kenya and Tanzania affirms
our commitment to work with farmers, food companies and retailers
to provide cost-effective, proven solutions to increase crop
yields, while helping farmers meet sustainability goals,” said Pam
Marrone, MBI’s Chief Executive Officer. “With our strong product
line and demonstrated commercialization capabilities, we are
excited about the market potential for our portfolio of
biopesticides as the segment becomes increasingly relevant in
international trade.”
KBL based in Kenol, Kenya, produces and
distributes biological farm inputs in Kenya and Tanzania. KBL has
over 13,000 customers across all farm sizes. The company is
supported by the African Enterprise Challenge fund, which provides
catalytic funding to innovative companies working on sustainable
solutions.
Chris Kolenberg, Chief Executive Officer of KBL,
said: “Kenya Biologics is pleased to announce our collaboration
with Marrone Bio Innovations. Together, our goal is to make farming
more sustainable, while at the same time increasing yields for
farmers in Kenya and Tanzania. We believe that MBI’s portfolio of
biopesticides represents an important step in achieving this
goal.”
Source: 1 Kenya Biologics Ltd.
About Marrone Bio Innovations
Smart. Natural. Solutions.Marrone Bio
Innovations, Inc. (NASDAQ:MBII) strives to lead the movement to a
more sustainable world through the discovery, development and
promotion of biological products for pest management and plant
health. MBI’s effective and environmentally responsible pest
management solutions help customers operate more sustainably while
uniquely improving plant health and increasing crop yields. MBI
currently has six commercially available products (Regalia®,
Grandevo®, Venerate®, Majestene®, Haven™ and Zequanox®) as well as
eight product candidates in various stages of the company’s rapid
development pipeline. MBI also distributes Bio-tam 2.0® for Isagro
USA and Jet-Ag® for Jet Harvest in most regions of the
U.S.
Marrone Bio Innovations is dedicated to
pioneering smart biopesticide solutions that support a better
tomorrow for both farmers and consumers around the globe. For
more information, please visit www.marronebio.com.
Marrone Bio Innovations Forward Looking
StatementsThis 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 statements regarding completion of the
registration process in Kenya and Tanzania, MBI’s ongoing
relationship with KBL, sales of the MBI’s products in Kenya and
Tanzania and other markets, market projections, including
anticipated growth in the crop protection and biopesticide markets,
the potential benefits of the MBI’s products, and MBI’s plans for
testing products for additional uses. 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 consumer, regulatory and
other factors affecting demand for the MBI’s products, any
difficulty in marketing MBI’s products in global markets,
competition in the market for pest management products, lack of
understanding of bio-based pest management products by customers
and growers, and adverse decisions by regulatory agencies and other
relevant third parties. 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 FounderJulie Versman, Sr.
Director of International BusinessTelephone: +1 (530)
750-2800Email: Info@marronebio.com
MBI Investor Relations:Greg FalesnikManaging
DirectorMZ Group – MZ North AmericaMain: 949-385-6449
MBII@mzgroup.us
www.mzgroup.us
Kenya Biologics Contact:Chris KolenbergCEOMain:
+25-471-729-7023 Chris@kenyabiologics.com
www.kenyabiologics.com
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