AG Stock News: Bee Vectoring Technologies (CSE: BEE) (OTCQB: BEVVF) Signs New Key Blueberry Grower in the Pacific Northwest
Mississauga, Ontario and Sacramento, California - April 18, 2023 (Newsfile Corp.) (Investorideas.com Newswire) Bee Vectoring Technologies International Inc. (CSE: BEE) (OTCQB: BEVVF) (CVE: BEE) (the "Company" or "BVT") is pleased to announce a new sales order with one of the largest berry growers in the Pacific Northwest. The customer will be using BVT's proprietary Vectorite with CR-7 (Clonostachys rosea CR-7) biological fungicide and natural precision agriculture system on their blueberry crops and has also further committed to a demonstration trial on their strawberry crops for the upcoming growing season.
"We are seeing large influential commercial growers take notice of the performance and value that the BVT system brings to the blueberry crop," said Ian Collinson, Sales Manager at BVT. "These enterprise sized growers are the types of key new relationships that we are strategically targeting - for example a 500-acre grower could represent a US$80,000 to 100,000 revenue opportunity to BVT."
"These larger growers run scaled complex operations and are naturally very conservative and stringent on their choices of adopting new technologies. Therefore, demonstrating clear benefit and solid return on investment is critical in signing these larger growers. Winning their business is a huge validation for BVT, and even if we start small with them as is the case here, we have an opportunity to further scale and increase our acreage and different crop coverage with the growers in the future as our relationship develops. We further believe that having large customers could positively impact faster adoption of the BVT system with the smaller growers as they strive to remain competitive and observe large growers implementing new and superior technologies," continued Mr. Collinson.
The new west coast customer will initially use the BVT honeybee system on a portion of their blueberry crop, and BVT will have the opportunity to expand into more of their blueberry acreage in subsequent years.
"BVT's recent blueberry trials with this grower demonstrated strong results around disease control and improved yield, and it was this catalyst that convinced the grower to deploy the BVT system this year," said Ryan Dragoo, Territory Manager for the Pacific Northwest at BVT. "They witnessed the benefits of our bee vectoring system firsthand with their crops - and confirmed that treating blueberry blooms repeatedly through the day and throughout the bloom period keeps disease pressure low. They were also impressed with our system's reliability given that it works continuously and is significantly more effective than intermittent spraying of chemical standards. Sprays alone are stressful and unreliable, especially when growers can't get into the fields during inclement weather."
The customer has also committed to a BVT trial for strawberries, which is a growing opportunity for BVT to extend into additional crops - and an entrée into the Pacific Northwest strawberry market for BVT sales. The customer also grows caneberries (raspberries and blackberries), which have similar fungal disease challenges as blueberries, offering yet another avenue of potential growth for BVT.
About Bee Vectoring Technologies International Inc.
BVT, an agriculture technology company, is a market disruptor with a significant global market opportunity in the $240 billion crop protection and fertilizer market. BVT has pioneered a natural precision agriculture system that replaces chemical pesticides and wasteful plant protection product spray applications by delivering biological pesticide alternatives to crops using commercially grown bees. BVT's award-winning technology, precision vectoring, is completely harmless to bees and allows minute amounts of naturally-derived pesticides (called biologicals) to be delivered directly to blooms, providing improved crop protection and yield results than traditional chemical pesticides - and improving the health of the soil, the microbiome and the environment. Currently, BVT has over 65 granted patents, over 35 patents pending in all major agricultural countries worldwide and has US EPA registration of its Vectorite™ with CR-7 (EPA Registration No. 90641-2) for sale as a registered biological fungicide for use on the labeled crops.
Additional information can be viewed at the Company's website www.beevt.com. To receive regular news updates from the Company, subscribe at www.beevt.com/newsletter.
BVT Company Contact:
Ashish Malik, President & CEO, BVT
BVT Investor Contacts:
Babak Pedram (Canada & International)
Virtus Advisory Group
William Maze (United States)
RB Milestone Group LLC (RBMG)
The CSE has neither approved nor disapproved the contents of this press release. The CSE does not accept responsibility for the adequacy or accuracy of this release. Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to the Company, "annual revenue potential", are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions, including: planted acres, selling price of competitive chemical pesticides and the US to Canadian dollar exchange rate. Material factors or assumptions were applied in providing forward-looking information. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include changes in law, competition, litigation, the ability to implement business strategies and pursue business opportunities, state of the capital markets, the availability of funds and resources to pursue operations, new technologies, the ability to protect intellectual property rights, the ability to obtain patent protection for products, third-party intellectual property infringement claims, regulatory changes affecting products, failing research and development activities, the ability to reach and sustain profitability, dependence on business and technical experts, the ability to effectively manage business operations and growth, issuance of debt, dilution of existing securities, volatility of publicly traded securities, potential conflicts of interest, unlikelihood of dividend payments, the potential costs stemming from defending third-party intellectual property infringement claims, the ability to secure relationships with manufacturers and purchasers, as well as general economic, market and business conditions, as well as those risk factors discussed or referred to in the Company's Filing Statement dated August 14,2020, filed with the CSE and securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law. All figures are in Canadian dollars.
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