(TheNewswire)
Mississauga, ON Canada andSacramento, CA USA – TheNewswire - March 21, 2024– Bee Vectoring TechnologiesInternational Inc. (the “Company” or “BVT”) (CSE:BEE) (OTC:BEVVF)(CVE:BEE) is pleased to announce the Company’sentry into the Texas market with its first customer. The grower, whois based in Hardin County, Texas, will use BVT’s natural precisionagriculture system for bumblebees on blueberry and strawberry crops.After deploying the BVT system for the first time last year, thecustomer has more than tripled his order for this year’s growingseason.
BVT is becoming increasingly well-known within theAmerican agriculture industry, with a reputation that’s buildingquickly through word of mouth. The Texas grower initially heard of BVTfrom another grower in Florida who is using the Company’s naturalprecision agriculture system – and is sharing the benefits of thesystem with growers in his own area.
“This customer isn’t just ordering BVT product foruse on his own berry crops, he’s also buying it in bulk for othergrowers in his area,” said Ian Collinson, Sales Manager at BVT.“This shared order means all of the growers in the collectiveexperienced the disease fighting and yield improving benefits of theBVT system last year and each of them have expanded the use of theproduct on more acreage on each of their farms.”
The Texas customer’s approach reflects a growingtrend across BVT’s US market: they are seeing increasing interestfor bulk orders from a single grower that are then shared between acollective of farmers in an area, with one of them becoming aninformal distributor for all the others.
Texas grows an estimated 400 acres (1) ofstrawberries and 700 acres (2) of blueberries. Most large commercialproducers in the state for strawberries grow their crop on 7-12 acres,while smaller operations start at 1,000 plants and go up to 3acres. (3)
“A customer buying on behalf of a collective offarmers is an opportunity for BVT to gain more sales in itsaddressable US market. It is an efficient way to penetrate into newstates and smaller growing regions without substantial growing acreagefor berries or the individual buying power to put in a substantialorder,” continued Mr. Collinson.
(1)(3) Source: "Texas strawberry season better than recent years,"AgriLife Today, April 25, 2023
(2) Source:"Conditions improve for blueberries, blackberries, otherfruits," AgriLife Today, May 16, 2023
About Bee Vectoring Technologies InternationalInc .
BVT, an agriculture technology company, is a marketdisruptor with a significant global market opportunity in the $240billion crop protection and fertilizer market. BVT has pioneered anatural precision agriculture system that replaces chemical pesticidesand wasteful plant protection product spray applications by deliveringbiological pesticide alternatives to crops using commercially grownbees. BVT’s award-winning technology, precision vectoring, iscompletely harmless to bees and allows minute amounts ofnaturally-derived pesticides (called biologicals) to be delivereddirectly to blooms, providing improved crop protection and yieldresults than traditional chemical pesticides – and improving thehealth of the soil, the microbiome and the environment. Currently, BVThas over 55 granted patents, many more patents pending in all majoragricultural countries worldwide and has US EPA registration of itsVectorite™ with CR-7 (EPA Registration No. 90641-2) for sale as aregistered biological fungicide for use on the labeled crops.
Additional information can be viewed at the Company’swebsite www.beevt.com . To receive regular news updates fromthe Company, subscribe at www.beevt.com/newsletter .
BVT Company Contact:
Ashish Malik, President & CEO, BVT
BVT Investor Contacts:
Babak Pedram
Virtus Advisory Group
Tel: 416-646-6779
bpedram@virtusadvisory.com
The CSE has neither approved nordisapproved the contents of this press release. The CSE does notaccept responsibility for the adequacy or accuracy of this release. Certain statements containedin this press release constitute "forward-lookinginformation" as such term is defined in applicable Canadiansecurities legislation. The words "may", "would","could", "should", "potential","will", "seek", "intend","plan", "anticipate", "believe","estimate", "expect" and similar expressions asthey relate to the Company, “annual revenue potential”, areintended to identify forward-looking information. All statements otherthan statements of historical fact may be forward-looking information.Such statements reflect the Company’s current views and intentionswith respect to future events, and current information available tothe Company, and are subject to certain risks, uncertainties andassumptions, including: planted acres, selling price of competitivechemical pesticides and the US to Canadian dollar exchange rate.Material factors or assumptions were applied in providingforward-looking information. Many factors could cause the actualresults, performance or achievements that may be expressed or impliedby such forward-looking information to vary from those describedherein should one or more of these risks or uncertainties materialize.These factors include changes in law, competition, litigation, theability to implement business strategies and pursue businessopportunities, state of the capital markets, the availability of fundsand resources to pursue operations, new technologies, the ability toprotect intellectual property rights, the ability to obtain patentprotection for products, third-party intellectual propertyinfringement claims, regulatory changes affecting products, failingresearch and development activities, the ability to reach and sustainprofitability, dependence on business and technical experts, theability to effectively manage business operations and growth, issuanceof debt, dilution of existing securities, volatility of publiclytraded securities, potential conflicts of interest, unlikelihood ofdividend payments, the potential costs stemming from defendingthird-party intellectual property infringement claims, the ability tosecure relationships with manufacturers and purchasers, as well asgeneral economic, market and business conditions, as well as thoserisk factors discussed or referred to in the Company’s FilingStatement dated August 14,2020, filed with the CSE and securitiesregulatory authorities in certain provinces of Canada and available atwww.sedar.com. Should any factor affect the Company in an unexpectedmanner, or should assumptions underlying the forward-lookinginformation prove incorrect, the actual results or events may differmaterially from the results or events predicted. Any suchforward-looking information is expressly qualified in its entirety bythis cautionary statement. Moreover, the Company does not assumeresponsibility for the accuracy or completeness of suchforward-looking information. The forward-looking information includedin this press release is made as of the date of this press release andthe Company undertakes no obligation to publicly update or revise anyforward-looking information, other than as required by applicable law.All figures are in Canadian dollars.
Copyright (c) 2024 TheNewswire - All rights reserved.