MBII: Marrone Bio signs exclusive agreement with UPL to use REGALIA MAXX in the Republic of South Africa.

By Ian Gilson, PhD, CFA

NASDAQ:MBII

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Marrone Bio Innovations, Inc. MBII has signed an exclusive agreement with UPL to distribute REGALIA MAXX in the Republic of South Africa, the country on the most southern point of South Africa.

Following the acquisition of Arysta Life Science in February, 2019 UPL became the fifth largest agricultural solutions company in the world with revenue of over $5 billion and substantial operations in Africa. The crop protection market in Africa is estimated at over $300 million. UPL has a line of biostimulants derived from algae and a number of immune stimulants that would be complementary to products from Marrone Bio Innovations.

Major crops in the republic are grapes and grape wine and a major problem is Botrytis, also known a grey mold. Botrytis is comprised of several species and many strains and there is no crop that is resistant to the fungi. REGALIA MAXX is a significant solution for mold treatment on grapes in N. America. The fungicide is also used on cannabis and is biologicals are used in Europe to treat grapes.

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