Bee Vectoring Technologies Announces Successful Results from European Strawberry Trials and Progress in the Path to Commercialization in the US
European strawberry trials:
- BVT System produced higher yields in all 3 trials: up to 15% greater than chemical treatments, and 42% higher than untreated controls
- BVT System provided post-harvest control thus increasing shelf life
Path to Commercialization in Florida, USA, strawberries:
- Preferred distributor selected; terms being finalized
- Discussions to gain sales commitments from strawberry growers started
Mississauga, ON – August 16, 2017 – Bee Vectoring Technologies (the “Company” or “BVT”) (TSXV: BEE) is pleased to announce successful results from 3 trials on strawberries in Spain and Greece. The company further confirmed that it is progressing on its path to commercialization of the BVT System in the strawberry market in Florida.
Results from 2 trials in Spain, and 1 in Greece which were conducted to prove the efficacy of the BVT System consisting of a bumble bee hive with proprietary dispenser technology through which BVT’s proprietary plant beneficial microbe BVT-CR7 is delivered to crops using bumblebees, showed similar positive outcomes to previous successful North American trials and commercial demonstrations conducted in Florida:
- The BVT System performed as effectively as standard chemical fungicide treatments in the control of Botrytis (grey mould), a common and costly disease in strawberries;
- The BVT System increased marketable yields in all trials: from 3 to 15% compared to standards chemical fungicide treatments, and from 14 to 42% compared to untreated;
- The BVT System provided control of Botrytis in harvested and stored berries thereby increasing their shelf-life;
The Company further confirmed that it is making good progress on its path towards commercialization in the Florida strawberry market in the US. It has selected a preferred distributor for that market and is in late stage discussions on key terms and agreeing on a launch plan with the distributor. The Company had previously announced successful trials as well as large-scale demonstrations (May 17, 2017), and discussions to secure sales commitments with the growers that participated in the demonstration trials have started.
“We are very pleased with the progress we are making on our path to commercialization in Florida, and expect to be able to announce achieving milestones along this path starting within a few weeks,” stated Ashish Malik, CEO of BVT. “The results from our European trials validate that our technology fits in the European market. Growers throughout Europe are facing increased pressure from consumers, supermarkets, and regulators to reduce the use of chemical pesticides on their crops. The data shows that we have a viable alternative for them to meet these challenges.”
The Company is continuing to successfully execute on its documented growth strategy while driving towards commercialization of its proprietary system. BVT is selectively expanding its market opportunities while continuing towards securing US Environmental Protection Agency (EPA) regulatory approval of its BVT-CR7 beneficial microbe.
BVT has developed and owns patent-pending bee vectoring technology that is designed to harmlessly utilize bumblebees and honeybees as natural delivery mechanisms for a variety of powdered mixtures comprised of organic compounds that inhibit or control common crop diseases, while at the same time enhancing crop vigor and productivity. This unique and proprietary process enables a targeted delivery of crop controls using the simple process of bee pollination to replace traditional crop spraying, resulting in better yields, superior quality, and less impact on the environment without the use of water or disruptions to labour.
For further information, please contact:
Ashish Malik, President & CEO
Babak Pedram, Investor Relations
Virtus Advisory Group
For media enquiries or interviews, please contact:
Josh Stanbury | email@example.com | T. 416-628-7441
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This press release contains certain “forward-looking statements” that involve known and unknown risks and uncertainties. All statements in this press release, other than statements of historical fact, that address events or developments that BVT expects to occur, are forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements with respect to BVT’S future plans and technologies, including the timing of such plans and technologies. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “indicate” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although BVT believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include continued availability of capital, financing and required resources (such as human resources, equipment and/or other capital resources), and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of BVT’S management on the date the statements are made. BVT undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change, except as required by law.