A leading bio-pesticide company, Marrone Bio, just made a big move that might lead to a ramp-up of business.
Marrone Bio Innovations Inc., a leading provider of bio-based pest management and plant health products, filed with the SEC for a stock sale that could reach $35 million. With the company selling 3,400,000 common stock shares and a stockholder selling 600,000, Marrone Bio is listed under the symbol “MBII” and was last valued on the NASDAQ on May 30th at $10.87 per share.
A Davis-based company, Marrone Bio Innovations Inc. is leading the way in natural pesticides and bio-chemical products for agriculture use. By using nature’s own defense mechanisms, not only is the prospect more natural, but also by passes many other regulatory requirements of conventional chemicals. By using technology to screen naturally occurring organisms for different properties, Marrone Bio Innovations has identified over 16,000 thousand microorganisms that may be used in future products that fight against harmful insects, algae, weeds and invasive species, without harming the good stuff.
“Discovery is just the start of the journey,” says Marrone Bio’s website. “Producing naturally-derived products that offer reliable and consistent efficacy must also include a finely tuned and quality controlled manufacturing process.” That’s exactly what this money is going to do–go towards creating more products that are viable and on the market.
During the first quarter this year, Marrone Bio Innovations released two bio-products, Grandevo and Regalia, and received approval for Venerate, a bio-based insecticide that is harmless to fish, birds and most harmless insects, according to the Sacramento Business Journal. The company is slated to introduce two more products to the market this year.