Bee Vectoring Technologies Announces Its First Stone Fruit Trial in the US Pacific Northwest; Cherry Market Yield Data to be Compiled
Mississauga, ON Canada and Sacramento, CA USA (May 11, 2022) – Bee Vectoring Technologies International Inc. (the “Company” or “BVT”) (CSE: BEE) (OTCQB: BEVVF) (CVE:BEE) is pleased to announce the Company’s first US demonstration trial on stone fruit, with a conventional cherry grower in Washington. The trial began during the mid-April bloom period and will continue through summer harvest.
The United States is the world’s second-largest cherry producer, second only to Turkey,(1) with cherries representing the most acreage of all stone fruits. There are an estimated 85,000 acres of sweet cherries in the US,(2) with Washington, California and Oregon growing almost 90% of the country’s total yield. There are an additional 32,000 acres of tart cherries grown in the US, of which 75% are in Michigan.(3)
“This initial stone fruit trial marks BVT’s entry into the important US stone fruit market,” said Ashish Malik, CEO of BVT. “In addition to cherries, stone fruits include peaches, nectarines, plums, prunes, and apricots, all grown on more than 270,000 acres(4) of farmland in the US. This is a very attractive crop grouping for BVT because of their high use of paid pollination hives, with over 75% of cherry acres(5) using pollination services.”
The trial is being conducted to achieve a proof of concept for greater yield with BVT’s natural precision agriculture system. It uses BVT’s proprietary Vectorite™ with CR-7 (Clonostachys rosea CR-7) biological fungicide, applied through the process of bee vectoring directly onto cherry blooms.
Above: The Washington site of the cherry trial with BVT’s VectorHive™ honeybee dispensers attached to honeybee hives.
“Pollination is a vital element of stone fruit production,” said Ian Collinson, Sales Manager at BVT “When a cherry grows, it’s because a bee pollinated a flower. So why not have those bees do double duty and carry biological products for disease control and plant health to those flowers at the same time?”
Now that the bloom period is over, the crop is developing on the trees. Yield data will be available once crops are harvested in late spring and into summer.
(1) Source: FAOSTAT, 2013
(2)(3) Source: 2020 National Ag Statistical Service (NASS)
(4) Source: 2018 National Ag Statistical Service (NASS)
(5) Source: 2017 National Ag Statistical Service (NASS)
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.
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.