(TheNewswire)
Mississauga, ON Canada andSacramento, CA USA (May 15, 2024) – TheNewswire – Bee Vectoring Technologies International Inc. (the “Company” or“BVT”) (CSE: BEE) (OTCQB:BEVVF) (CVE:BEE) is pleased to announce significantResearch and Development advancements for its proprietary biologicalcontrol agent Clonostachysrosea strain CR-7 (CR-7) use as a seed treatmentsolution for soybeans. This breakthrough underscores the product’scompatibility and safety on seeds, propelling it towardcommercialization in the agriculture sector.
“Investing in this research is crucial forunderstanding the potential market for a CR-7 seed treatmentproduct,” said Ashish Malik, CEO of BVT. “This study allowed us toassess the effectiveness and safety of CR-7 on soybean seed, durationof action, and compatibility with other treatments. These arefundamental studies to support launching this product and furtheradvancing our partnership opportunities.”
“Two years of rigorous testing confirmed CR-7’sexceptional safety profile on soybean seeds, showing no signs oftoxicity or adverse effects on plant health,” said Dr. Mason Newark,Field Technical Manager at BVT. “These results establish CR-7 as anexcellent candidate for seed treatment, given its long shelf life,compatibility with other common seed treatment products, and itssafety for use on seeds.”
The seed treatment market is a significant new revenueopportunity for the Company. Through a future licensing agreement, BVTcould potentially reap significant annual royalties from thisapplication.
“We continue to progress our collaborations withmajor global multinationals,” said Mr. Malik. “These are potentialpartners looking to differentiate their seed treatment portfolioofferings in soybeans, a major global crop that is worth US$155billion annually and projected to reach US$278 billion by2031.” (1)
Research highlights include:
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Extended Viability: CR-7 demonstrates a long shelf lifeonce it is coated on soybean seeds. This is a key metric for seedtreatments since seeds may not be planted for 6-12 monthspost-treatment, thus giving BVT sales partners a strong valueproposition and a robust product. This shelf-life study inongoing.
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Compatibility with other seed treatments: Testingconfirms CR-7's compatibility with other seed treatment products,including biologicals and chemical pesticides, ensuring it fitsseamlessly into existing agricultural practices where multipleproducts are applied to the seed at the same time.
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Proven Safety: Extensive safety tests show that CR-7does not harm soybean plant germination or growth, maintaining planthealth from seed through maturity.
Additional observations from BVT’s R&D teamincluded:
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No observation of negative interactions between CR-7and other microbes.
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CR-7 demonstrated significant compatibility with anumber of major and commonly used fungicides.
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After nine months, CR-7 remains detectable inseedlings, demonstrating that it stays dormant until activated by alive host. This underscores its robust and enduring shelflife.
“Our ongoing R&D efforts continue to showcase therobustness of CR-7, with promising results indicating itseffectiveness remains intact for up to nine months and potentiallybeyond,” continued Dr. Newark. “Now we are testing for 20 monthsplus viability. What we’ve found so far that’s particularly exciting is that CR-7 grows with the plant and creates a broaderzone of protection from the seed stage to well into the roots andstems of the plant.”
Above: A blotter test canbe used to detect CR-7. The photos show that CR-7 is growing onsoybean root and stem tissue.
Soybeans are the fourth leading crop produced globally.Brazil is the world’s largest soybean producer and exporter andtogether with the United States, the two countries supply nearly 90percent of soybean exports to the world. (2)
What’s next? A commercial formulation of the seedtreatment product is in development: BVT is now focused on taking thisstrong proof of concept and turning it into a formulatedproduct.
(1) Source:IISD, Global Market Report: Soybean prices and sustainability,2024
(2) Source:USDA, Economic Research Service, 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, the ability to effectively managebusiness operations and growth, issuance of debt, dilution of existingsecurities, volatility of publicly traded securities, potentialconflicts of interest, unlikelihood of dividend payments, thepotential costs stemming from defending third-party intellectualproperty infringement claims, the ability to secure relationships withmanufacturers and purchasers, as well as general economic, market andbusiness conditions, as well as those risk factors discussed orreferred to in the Company’s Filing Statement dated August 14,2020,filed with the CSE and securities regulatory authorities in certainprovinces of Canada and available at www.sedar.com. Should any factoraffect the Company in an unexpected manner, or should assumptionsunderlying the forward-looking information prove incorrect, the actualresults or events may differ materially from the results or eventspredicted. Any such forward-looking information is expressly qualifiedin its entirety by this cautionary statement. Moreover, the Companydoes not assume responsibility for the accuracy or completeness ofsuch forward-looking information. The forward-looking informationincluded in this press release is made as of the date of this pressrelease and the Company undertakes no obligation to publicly update orrevise any forward-looking information, other than as required byapplicable law. All figures are in Canadian dollars.
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