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Bee Vectoring Technologies completes Phase I evaluations in product extensions to generate additional market and revenue opportunities
Nov. 28, 2019
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CanadaBee Vectoring Technologies International Inc. (the “Company” or “BVT”) (TSXV: BEE) (OTCQB: BEVVF) announces it has completed Phase One lab trials on six third-party products using BVT’s proprietary bee delivery system. Phase Two field studies on three of those products will commence shortly.
The goal of the project is to open new market opportunities and fast-track additional revenue for BVT. Because these microbial candidate products control a different spectrum of crop pests than BVT’s proprietary Clonostachys rosea strain CR-7 (CR-7), they can be used on their own in crops where pests controlled by CR-7 are not present, or along with CR-7 on crops that have multiple pests affecting the flower area. Adding third-party products to existing CR-7 applications is achieved by “stacking” two or more microbes together, a practice already common in seed treatment applications. Using the new products on new crops creates additional revenue streams and will increase revenue from crops that already use CR-7.
As part of the Company’s in-licensing project, the products were initially lab-tested for compatibility with its formulation of VECTORITE powder and its beneficial microbe CR-7, and to evaluate if commercial bumblebees could carry the spores of the microorganisms directly to plant blooms. Based on favorable results, BVT has shortlisted three of the products to be used in the upcoming field studies.
“Moving to Phase Two trials with three products is a significant step forward in allowing BVT to develop multiple revenue streams,” said Ashish Malik, CEO of Bee Vectoring Technologies. “The products are all commercially available and are already registered in either the US or the European Union. The partner companies are keen to see how effectively their products can be distributed through our highly efficient and environmentally friendly delivery system. Phase Two tests will be done in 2020, with results expected in the summer.”
Continued Mr. Malik, “Growers will see multiple diseases and pests addressed through this highly efficient, stacked system for precision agriculture application. These product extensions will help BVT significantly increase its share of the $20 billion market for bee vectoring, foliar application and seed treatment.”
Through BVT’s delivery system, the third-party biologicals will control these crop issues in a much more precise and natural way compared to traditional spray application methods. BVT’s natural precision agriculture system uses commercially-managed bees to carry product directly to blooms (the process of bee vectoring), which means less waste and much higher efficiency. Growers would benefit in terms of crop protection and yield, and further reduce the chemical pesticides they use through traditional spray applications. An additional benefit includes using much less product and therefore recognize cost savings, since bee vectoring uses only a fraction (typically less than 2%) of what’s required with spraying.
In bee vectoring, one or more biostimulants, plant amendments and biological controls (biocontrols) are formulated with VECTORITE ingredients to create a layered powder mixture that bees pick up on their way out of the hive and deliver right to plant blooms. The flower is the primary entry point for many diseases and insects, making the bloom the ideal place for active ingredients to inoculate the plant. With bee vectoring, protection products are continually (and naturally) delivered throughout the bloom period – far more precisely than intermittent spraying, which can miss some blooms entirely.
Stacking multiple protection products also means growers can further reduce water consumption and use of fossil fuels (by eliminating even more spraying), making the BVT system an option that checks two major boxes: excellent plant protection for increased yields that’s good for business, and an environmentally-friendly, non-toxic solution that’s good for consumers – and the planet.
Source: Bee Vectoring Technologies
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