Marrone Bio Innovations, Inc. (NASDAQ: MBII), has signed an agreement with Corteva Agriscience (NYSE: CTVA) that expands the opportunity for MBI technologies to be used on seeds sold by Corteva for row crops globally. Marrone Bio currently provides seed treatment solutions to Corteva for use throughout Europe.
MBI introduced biological seed treatments as a sustainable alternative to control yield-robbing pests in the United States in 2017.
Those offerings expanded to include plant health solutions, particularly in the European market, with the acquisition of Pro Farm in 2019.
Today, more than 30% of MBI’s annual revenues come from seed technologies used on approximately 35 million acres of major row crops such as corn, soybeans, wheat, cotton and sunflowers.
Marrone CEO Kevin Helash explained, “Expanding our global cooperation with Corteva affirms the strength of the partnership we have developed over the last two years.
“This new collaboration solidifies both companies’ commitment to provide growers with efficacious and sustainable solutions that enhance crop productivity and return on investment.” The agreement is effective immediately.
Marrone Bio is an international leader in sustainable bioprotection and plant health solutions with 18 commercial products and 20 additional technologies in its research and development pipeline.
This pipeline includes MBI-206, which has been submitted for approval in Brazil for use as a seed treatment to control nematodes in soybeans and corn.
MBII shares opened Thursday up three cents, or 2.7%, to $1.13, while those for CTVA gained 50 cents to $57.91.