Marrone Bio Innovations Celebrates Fifth Year of Success

DAVIS, Calif., July 29, 2011 /PRNewswire/ -- Marrone Bio Innovations (MBI), a leading provider of effective, natural pest management products for agriculture and water resource management, today announced it is celebrating its five year anniversary. Since incorporating in June 2006, MBI has experienced rapid growth as it delivers on its mission to fill unmet pest management needs in agriculture and water resource management. Over the past five years, the company has developed a diverse and growing customer base around the world and achieved other key milestones including:

• Launched and achieved grower adoption of two biopesticides, including flagship biofungicide Regalia®;
• Developed and successfully applied Zequanox™, the only natural, highly selective product for controlling invasive zebra and quagga mussels;
• Submitted four new products to the USEPA for registration;
• Inked international distribution agreements with industry leaders;
• Developed a deep pipeline of novel active ingredients;
• Won numerous awards for its product innovation and dedication to advancing agricultural practices, including the CA Governor's Environmental and Economic Leadership Award, CAL-DPR's IPM Innovators Award, Investors' Circle Top 20, Agrow's Best New Biopesticide, and NRDC's Growing Green Business Leader Award.

"MBI's biopesticide products are playing a major role in the changing face of today's agriculture. With an expanding world population, increasing regulatory pressure, environmental concerns and chemical residue limitations, there is growing demand for MBI's effective, sustainable and safe plant protection products," said Pam Marrone, CEO and Founder of MBI, and a recognized leader in biopesticide innovation.

"Our unparalleled experience in developing natural products, coupled with its our research objective to fill unmet needs in the water space, will lead to important, new products that address the ever-increasing challenges affecting the world's fresh water supply as well," Marrone added.

MBI recently announced the closing of a $25.4 million private round of financing that included both existing and new investors who recognize the impressive track record and product pipeline developed in only 5 years time.  

"The company is solidly positioned for rapid revenue growth and portfolio expansion. We have a great deal to celebrate at our 5 year anniversary, and even more to look forward to in the coming years," added Richard Rominger, MBI's Board Chairman and a founding investor.

For more information, visit MarroneBioInnovations.com

About Marrone Bio Innovations

Marrone Bio Innovations (MBI) discovers, develops and markets effective and environmentally responsible natural products that fill unmet needs for weed, plant disease, pest and water resource management. MBI's effective and safe products come from a combination of in-licensed technology and its own R&D discovery. MBI has an impressive pipeline of new products waiting approval at the EPA, including two insecticides, a herbicide and Zequanox,™ a natural product for controlling invasive zebra and quagga mussels in fresh waterways. MBI has several new nematicide, insecticide, fungicide and herbicide candidates from its discovery screen. MBI currently sells its award-winning Regalia® Biofungicide for foliar disease control and yield enhancement for a broad range of crops. For more information about Marrone Bio Innovations, please go to www.marronebioinnovations.com

SOURCE Marrone Bio Innovations