Mississauga, Ontario and Sacramento, California--(Newsfile Corp. - February 29, 2024) - Bee Vectoring Technologies International Inc. (CSE: BEE) (OTCQB: BEVVF) (CVE: BEE) (the "Company" or "BVT") is pleased to announce an update on the Company's strategic partnership strategy with several multinational agriculture companies.
Partnership development is BVT's core strategy for quickly scaling business and substantially broadening its addressable market. Allocating resources to tap into large, established channels is the most cost-efficient way to access more buyers, enter more distribution and marketing channels, and utilize sales teams that are experienced and deeply embedded in key regions and key crops around the world.
"BVT is deliberately and aggressively moving forward with strategic partnership initiatives, and we are currently in a good position to do this with several global partners," said Ashish Malik, CEO of BVT. "Recent trial announcements in Spain with Agrobo, Mexico with a major multi-national grower, South Africa with MBFi, and expanding application of our proprietary plant-beneficial microbe, Clonostachys rosea CR-7, as a foliar application with our first sale to BioSafe, shows this is exactly what our multinational partners are looking for: large addressable markets with significant crop breadth, wide geography, and an array of application methods. By creating value for them, we are cementing long-term relationships with immeasurable value for BVT's future."
The Company is also pursuing partnerships in the large soybean seed treatment market, where one of the multinationals has conducted multi-year trials with BVT's CR-7. In the Company's own trials in the US, CR-7-treated soybean crops have consistently showed increased crop yields that outperformed the base seed treatment, producing larger, healthier plants.
- Wherever CR-7 was applied, the results outperformed the base seed treatment 81% of the time.
- On average, a three-bushel yield per acre increase was reported with CR-7 added, which is about 4% higher than the base seed treatment.
- Multi-year trials have shown CR-7 to be an effective treatment against Sudden Death Syndrome (SDS), a huge challenge for soybean growers.
"Our multi-year work has included trials around the globe, and we have ongoing collaborations with key agriculture industry players in a number of product development and crop areas," said Mr. Malik. "These initiatives have shown very promising results and market opportunities - successes that have intrigued these multinational businesses and encourage them to further pursue partnership with BVT."