Mississauga, Ontario and Sacramento, California--(Newsfile Corp. - October 25, 2022) - Bee Vectoring Technologies International Inc. (CSE: BEE) (OTCQB: BEVVF) (CVE: BEE) (the "Company" or "BVT") is pleased to announce a new partnership with Missouri-based Agri Spray Drones, a leading-edge provider of end-to-end agricultural drone solutions. Together, they will trial drone application of BVT's proprietary Clonostachys rosea CR-7 (CR-7) biological fungicide on large-acre crops such as soybeans, corn, alfalfa and canola.
"BVT has been primarily focused on delivering CR-7 via commercially-managed bees," said Ashish Malik, CEO of BVT. "Additionally, we have also been working on alternate delivery methods including foliar, soil-applied, seed treatment – and now drone applications. This exciting development is part of our overall strategy to maximize the utility of our core patented asset, CR-7, and expand its application into non-pollinated crops providing farmers an additional sustainable tool to control pathogens and improve yields."
Drones are quickly becoming a desirable delivery method for plant protection products for the agricultural industry. They are fast, evasive of crop damage, can access fields in wet conditions where ground tractors can't, and can fly close to the canopy, minimizing overspray or drift. In 2020, the global agriculture drone market was valued at more than US $1.3 billion, and is expected to reach US $10.5 billion by 2028.(1)
In the new partnership, BVT and Agri Spray will evaluate drone delivery of lightweight CR-7 powder onto crops such as soybeans (which represents an 86 million(2) acre opportunity in the US alone) and alfalfa. This will complement the seed treatment work BVT has also been focused on to enhance soybean crops, and holds potential to provide a season-long program for more efficient growth. Efficacy trials are ongoing and will continue into 2023.
"We are pleased to collaborate with BVT and are very excited to trial their biological fungicide CR-7 via our new T40 drone because of its ability to control pathogens in multiple crops on its own or in tandem with conventional pest and disease control programs. The capability to deliver this via drone to help farmers fight a broad spectrum of diseases and stimulate plant growth, resulting in greater crop yields – is a winning combination," said Alex Bennett, Sales Manager at Agri Spray Drones. "This partnership is a natural extension to our business and is poised to create a solution that's a game-changer for farmers."
Agri Spray is dedicated to providing end-to-end agricultural drone solutions. Their knowledge of drones coupled with their experience in agriculture allows them to create systems that support farmers' operations and promote efficiency. Their industry-leading drones provide solutions for every operation, whether it is to spray fungicide, spread cover crops, manage natural resources, or start a custom application business, they have the drone to fit a customer's needs, and the licensing and insurance resources to help them get in the air fast.
(1) Source: Reports and Insights, 2022
(2) Source: USDA, World Agricultural Production, 2022
About Bee Vectoring Technologies International Inc.
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.
Additional information can be viewed at the Company's website www.beevt.com/. To receive regular news updates from the Company, subscribe at www.beevt.com/newsletter.
Company Contact:
Ashish Malik, President & CEO
info@beevt.com
Investor Contacts:
Babak Pedram (Canada & International)
Virtus Advisory Group
Tel: 416-995-8651
bpedram@virtusadvisory.com
William Maze (United States)
RB Milestone Group LLC (RBMG)
bee@rbmilestone.com
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/141704
