Mississauga, Ontario and Sacramento, California--(Newsfile Corp. - September 13, 2023) - Bee Vectoring Technologies International Inc. (CSE: BEE) (OTCQB: BEVVF) (CVE: BEE) (the "Company" or "BVT") is pleased to announce a 196% year-over-year sales growth in the Pacific Northwest blueberry market with the BVT system, with new customers coming on board and over 80% of growers renewing their contracts.
"Our customers were extremely satisfied with their results last year, leading to a tripling of our business and over 80% of customers having renewed for another season," said Ian Collinson, Sales Manager at BVT. "This positive pattern has been consistent with the activities in our other key sales regions. Moreover, we were also thrilled to add significant new acreage with two of the biggest blueberry producers in the region and country."
"In the past year, our commercial grower trials in the Pacific Northwest yielded bigger berries utilizing the BVT system, an average of 1.26mm larger diameter berries and 26.67% heavier berries. This means our customers gained approximately $10,000 per acre in additional revenue. That's a more than 40 times return on investment (ROI) for growers using the BVT system - and that's the reason they renewed with BVT for this growing season," continued Mr. Collinson.
Additionally, new customers have signed up for the first time this year for initial demonstration trials, which builds potential for increased sales acreages in the next growing season.
"It's important to note that this incredible business growth happened during a very challenging growing season in the region," said Mr. Collinson. "The Pacific Northwest had record-breaking rainfall leading into the bloom period, which is a recipe for fungal disease."
Previous wet conditions made potential disease exposure high, with bushes vulnerable to disease exposure even before the flowers bloomed. And getting into the sodden fields to apply traditional fungicide sprays was difficult.
Having the BVT system in place at the start of blooming helped growers tackle those challenging conditions head-on. As bees pollinated the flowers, they simultaneously deposited BVT's proprietary Vectorite with CR-7 biofungicide directly into the bloom - treating flowers as soon as they opened and were exposed to the disease.
"Preliminary results from the Oregon farms using BVT's system are extremely positive showing noticeable results," said Ryan Dragoo, Pacific Northwest Territory Manager for BVT. "They're seeing less than 5% Monilinia (mummy berry) and Botrytis (gray mold) fungal diseases, and a number of farms are reporting NO disease presence."
One repeat customer - one of the largest growers in the region - has said that the end of their bloom period is significantly better in terms of fungal disease than other growers around them, reporting the cleanest multiple blocks with the lowest incidence of disease.
"This growth, coupled with our recent announcement of collaborations with two major distributors in the Pacific Northwest, will lead to increased momentum and sales opportunities for BVT in the next growing season and to grow our market share," continued Mr. Collinson.
About Bee Vectoring Technologies International Inc.
BVT, an agriculture technology company, is a market disruptor with a significant global market opportunity in the $240 billion crop protection and fertilizer market. BVT has pioneered a natural precision agriculture system that replaces chemical pesticides and wasteful plant protection product spray applications by delivering biological pesticide alternatives to crops using commercially grown bees. BVT's award-winning technology, precision vectoring, is completely harmless to bees and allows minute amounts of naturally-derived pesticides (called biologicals) to be delivered directly to blooms, providing improved crop protection and yield results than traditional chemical pesticides - and improving the health of the soil, the microbiome and the environment. Currently, BVT has 55 granted patents, over 35 patents pending in all major agricultural countries worldwide and has US EPA registration of its Vectorite with CR-7 (EPA Registration No. 90641-2) for sale as a registered biological fungicide for use on the labeled crops.
BVT Company Contact:
Ashish Malik, President & CEO, BVT
info@beevt.com
BVT Investor Contact:
Babak Pedram
Virtus Advisory Group
Tel: 416-995-8651
bpedram@virtusadvisory.com