Bee Vectoring Technologies Takes Key Steps to Commercialize Crop Protection System in Mexican Market
Farmers in Mexico seek cutting edge crop protection methods to serve critical export market
Mississauga, Ontario--(Newsfile Corp. - December 12, 2018) - Bee Vectoring Technologies (TSXV: BEE) (OTCQB: BEVVF) ("BVT") announced today that it is accelerating efforts to bring its patented plant protection delivery system to commercial growers in Mexico.
BVT has begun the registration process of its proprietary active ingredient, Clonostachys rosea CR-7, as a biofungicide for control of common fungal diseases including botrytis. For assistance with the registration process in Mexico, BVT has contracted with a regulatory consultant, and started building relationships with large honey beekeepers as well as the two largest suppliers of bumble bees for pollination, which BVT intends to leverage for the Mexican market.
BVT has also begun targeted business development activity in Mexico to introduce growers to its product delivery platform that uses both honey and bumble bees to efficiently deliver disease control products to plants.
"Successful controlled trials in targeted crops are a requirement for the product registration process in Mexico," said Ashish Malik, President and CEO of BVT. "Starting that process now, with key growers and beekeepers, prepares BVT for a commercial launch in Mexico in the 2020 growing season."
"Mexico is the second largest producer of berries in the world and there are more than 12,000 hectares of fresh market tomatoes being grown in greenhouses," said Gerardo Suazo, Senior Technical Manager for BVT. "Growers in Mexico, with their strong focus on export markets, are increasingly seeking and adopting growing techniques that increase both food and worker safety and that are also sustainable."
The BVT system uses bees to carry plant protection products directly to key areas of target plants - benefiting farmers by using significantly less product than is required with traditional spray applications while reducing consumption of water and fossil fuels.
"BVT's system and CR-7 product offers a very compelling alternative for Mexican growers of both organic and conventionally grown crops," continued Suazo. "Mexico is a very strong fit with BVT's system for disease control."
In addition to securing product registration, BVT will also conduct trials and demonstrations in high-value crops where growers are familiar with using bees as part of a sustainable growing process, as well as proof of concept trials in crops such as greenhouse-grown peppers, avocados, and mangoes.
For further information contact:
Ashish Malik, President & CEO
Babak Pedram, Investor Relations
Virtus Advisory Group
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