Jet Ag and Jet Oxide can also be used in post-harvest storage fogging, greenhouse surfaces/irrigation systems and agriculture irrigation water and drainage ditches

Bio

Image: Marrone Bio has purchased Jet Ag and Jet Oxide product lines from Jet Harvest. Photo: courtesy of Adam Radosavljevic from Pixabay.

Marrone Bio Innovations has purchased all rights and assets related to Jet Ag and Jet Oxide product lines from Jet Harvest Solutions.

The broad-spectrum Jet Ag and Jet Oxide products have been developed for control of fungal and bacterial diseases. They can also be used as disinfectants.

Jet Ag and Jet Oxide product lines

The products, which are used in speciality agricultural and field crops as well as greenhouse and irrigation applications, are expected to be in line with Marrone Bio’s BioUnite strategy.

Jet Ag and Jet Oxide are also suitable for use in post-harvest storage fogging, greenhouse surfaces/irrigation systems and agriculture irrigation water and drainage ditches.

Jet Ag is a major product in the peroxyacetic acid (PAA) agriculture, turf, ornamentals and post-harvest markets.

The current deal is based on a two-year relationship, as well as an earlier distribution agreement between both firms.

The portfolio will be marketed via Marrone Bio’s existing sales force and distribution network except for the post-harvest business, which was licensed back to Jet Harvest.

Jet Ag and Jet Oxide product lines are expected to contribute to Marrone Bio’s revenues this fiscal year, with gross margins in line with the company’s current portfolio of products.

Under the deal, Jet Harvest will secure $2.5m (£2.02m) in cash, as well as five yearly earn-out payments based on certain sales of the products.

Marrone Bio has also signed a two-year consulting agreement with the founders of Jet Harvest Solutions.

Marrone Bio CEO Dr Pam Marrone said: “We continue to expand our portfolio of products for integrated pest management, giving growers more tools to control diseases, improve plant health, and enhance grower return on investment.

“The Jet Ag product line delivers the kind of results we demand of our products: Proven performance, capacity for significant revenue growth and attractive gross margins.”

Marrone Bio is involved in the discovery, development and marketing of advanced biological products for crop protection, plant health and waterway systems treatment.