Bee Vectoring Technologies Wins at International Agrow Awards for Innovation
Mississauga, ON Canada and Sacramento, CA USA (November 13, 2019) – Bee Vectoring Technologies International Inc. (the “Company” or “BVT”) (TSXV: BEE) (OTCQB: BEVVF) today announced an exciting win for the company – and for farmers everywhere. BVT has been recognized in this year’s Agrow Award for Best Application Technology Innovation for its proprietary bee delivery system and VECTORITE™ with CR-7. The Best Application Technology Innovation Award recognizes developments that improve the precision or safety of pesticide applications.
The Agrow Awards are the premier global competition that honors top advancements in agriculture and best-in-class scientific, technological and leadership initiatives and showcase the future of the industry. It is organized by Agrow, the news and analysis service division of Informa Agribusiness Intelligence. The awards recognize industry successes and innovative, boundary-pushing ideas, with winners chosen from around the world by a distinguished judging panel from within the industry.
“Being recognized by the industry and winning this coveted award is a real stamp of approval for BVT’s creativity and innovation in global agriculture,” says Ashish Malik, CEO of Bee Vectoring Technologies. “The industry is increasingly diverse and evolving, with more adoption of innovative crop technologies that mean a better industry – and a better environment for people, animals, and plants. This award confirms that what we do will make an impact where it matters most.”
Above: Bee Vectoring Technologies accepting the Agrow Award for Best Application Technology Innovation, which recognizes developments that improve the precision or safety of pesticide applications.
BVT’s naturally-derived fungicide, otherwise known as a biological, helps control disease and increase crop yields by as much as 29%. The Company’s natural precision agriculture system uses a fraction of the product required with traditional spray applications. Water consumption and use of fossil fuels is also significantly reduced for growers using the system. With an agriculture industry under pressure to increase yields and move away from potentially harmful chemicals, BVT’s system is coming to market at just the right time.
“Right now, we have 7.7 billion people on the planet, and by 2050 that number is projected to increase to nearly 10 billion. When you do the math, we basically have to find a way to double productivity on every farm acre of land over the next 30 years,”(1) says Mr. Malik. “And that’s not us saying it, that’s the United Nations and world leaders saying it. The use of biologicals is exploding. More and more people want farmers to stop using chemicals, and BVT is very much a part of this new green revolution. We have an exciting technology with tremendous promise for the future, something the Agrow Awards recognize and celebrate.”
Within the agriculture industry, an increasing number of forward-thinking farmers are adopting BVT as the Company progresses in the commercial phase of operations post US EPA approval. The Company recently announced its first commercial grower deals in the strawberry and blueberry markets within the United States.
(1) Source: United Nations, World Population Prospects 2019
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 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 60 granted patents, over 30 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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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 of strawberries in Florida, 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 May 29, 2015, filed with the 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.