Bee Vectoring Technologies announces first sale of CR-7 to BioSafe for foliar application

Date:09-29-2023

Bee Vectoring Technologies International Inc. (the ″Company″ or ″BVT″) (CSE: BEE) (OTCQB: BEVVF) (CVE:BEE) announced its first sales order of BVT’s Clonostachys rosea CR-7 (CR-7) proprietary microbe for use in the foliar application market. This groundbreaking deal is with BioSafe Systems, an industry leader in environmentally sustainable products. This is the result of an earlier announcement of a commercial agreement between BVT and BioSafe to develop and market end-use biological products for plant health and control of foliar and soil diseases.

″Not only is this BVT’s first sale to a larger Ag-inputs company, it’s also an entry into a totally new market and revenue source, giving us access to markets where bees are not used for the first time,″ said Ashish Malik, CEO of BVT. ″This confirms that our strategy to expand business to channel partners like BioSafe is working well and paying dividends, as it enables us to scale growth and expand market share much more quickly.″

This inaugural sale of technical-grade CR-7 marks BVT’s entry into the foliar business. BioSafe will take CR-7, use it to create a proprietary formulation and sell it to their distribution network in the foliar market. BVT will receive a royalty for every BioSafe sale.

″We’ve also just finished characterizing CR-7 for the control of various diseases across multiple crops,″ said Dr. Mason Newark, Field Technical Manager at BVT. ″This validates CR-7 as a broad-spectrum biofungicide across many crops and creates a solid foundation for building up our foliar business.″

The deal with BioSafe is a key milestone in BVT’s ongoing corporate expansion strategy. ″Entering the foliar business expands our market in exciting new ways,″ said Mr. Malik. ″It demonstrates successful execution of our business strategy, which is to focus on both geographic expansion and finding new applications for CR-7.″