Bee Vectoring Technologies Launches First Cranberry Trials
Mississauga, ON Canada and Sacramento, CA USA (May 20, 2020) – Bee Vectoring Technologies International Inc. (the “Company” or “BVT”) (TSXV: BEE) (OTCQB: BEVVF) (CVE:BEE) today announced it will conduct trials of BVT’s natural precision agriculture system on cranberries in Massachusetts and New Jersey , two major cranberry growing regions. This represents an expansion of BVT into a new crop on the heels of its successful commercialization of their product in the strawberry and blueberry markets.
The trials will be conducted in collaboration with leading cranberry researchers at the University of Massachusetts and New Jersey’s Rutgers University on fields from growers who are part of a major US farmer-owned cranberry cooperative. The Company is also in discussions with US Department of Agriculture (USDA) scientists based in Wisconsin who are interested in following the work in both Massachusetts and New Jersey.
An estimated 98% of global cranberry production comes from North America, with approximately 41,500 acres(1) and 18,000 acres(2) cultivated across the US and Canada, respectively, on vast commercial cranberry farms in Massachusetts, Wisconsin, New Jersey, Oregon, Washington, Florida, British Columbia, Quebec, Ontario and other parts of Canada. The US is the world’s top cranberry producer, with a US$292 million(4) industry that harvests more than 905 million(3) pounds of the fruit each year.
Cranberry growers constantly battle fruit rot, which is caused by different fungal pathogens, and are increasingly looking for new tools to fight these pathogens as chemical fungicides are being banned or becoming less effective due to resistance development. The trials will begin in late June and will evaluate the efficacy of BVT’s proprietary Clonostachys rosea CR-7 beneficial biological fungicide in improving cranberry crop health and mitigating fruit rot.
As a biological (a natural pesticide alternative), CR-7 is the right tool at the right time for cranberry growers to utilize in addressing these significant concerns. CR-7 has received a residue tolerance exemption from the US Environmental Protection Agency (EPA), which confirms that products with CR-7 are safe for human consumption. Unlike many chemical pesticides, there is no requirement to test crops for residual CR-7, eliminating the grower’s risk of crops being rejected, especially in export markets. This is a significant competitive advantage for growers using CR-7 products.
“BVT has been successful in establishing itself in the strawberry and blueberry markets. Cranberries are our next big crop opportunity in America, where we have EPA approval for commercial operations,” says Ashish Malik, CEO of Bee Vectoring Technologies. “The farmer-owned cooperative involved with these trials is especially interested in the results since the BVT system aligns closely with their commitment to sustainable agriculture.”
BVT’s natural precision agriculture system delivers the biological pesticide alternative CR-7 directly to crop blooms via commercially grown bees. This means growers use a fraction of the crop protection product required with traditional spray applications. Water consumption and use of fossil fuels is also significantly reduced.
(1) (3) (4) Source: 2016 and 2017. USDA National Agricultural Statistics Service
(2) Source: Fruit & Vegetable, https://www.fruitandveggie.com/stats-canada-reports-growing-blueberry-cranberry-and-field-vegetable-acres-20130/
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.
Ashish Malik, President & CEO
Babak Pedram, Investor Relations
Virtus Advisory Group
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