Post by
stockwatcher7 on Mar 04, 2024 10:53am
Lots of positive info in MD&A
September 13, 2023 – the Company announced a 196% year-over-year sales growth in the Pacific Northwest blueberry market with the BVT system, with new customers coming on board and over 80% of growers renewing their contracts. The tripling of its business in the Pacific Northwest, with 80% of customers having renewed for another season, was based on the good results from the previous year. In the past year, commercial grower trials in the Pacific Northwest yielded bigger berries utilizing the BVT system, an average of 1.26mm larger diameter berries and 26.67% heavier berries. Customers gained approximately $10,000 per acre in additional revenue which is more than 40 times return on investment (ROI) for growers using the BVT system. Additionally, new customers signed up for the first time this year for initial demonstration trials, which builds potential for increased sales acreages in the next growing season. This business growth happened during a very challenging growing season in the region with the Pacific Northwest experiencing record-breaking rainfall leading into the bloom period, which is a recipe for fungal disease. Previous wet conditions made potential disease exposure high, with bushes vulnerable to disease exposure even before the flowers bloomed. And getting into the sodden fields to apply traditional fungicide sprays was difficult. Having the BVT system in place at the start of blooming helped growers tackle those challenging conditions head-on. As bees pollinated the flowers, they simultaneously deposited BVT’s proprietary Vectorite with CR-7 biofungicide directly into the bloom – treating flowers as soon as they opened and were exposed to the disease.