Bee Vectoring Technologies Enters the High-Growth Controlled Environment Agriculture Market – Yahoo Finance
Mississauga, Ontario and Sacramento, California–(Newsfile Corp. – October 12, 2022) – Bee Vectoring Technologies International Inc. (CSE: BEE) (OTCQB: BEVVF) (CVE: BEE) (the “Company” or “BVT”) is pleased to announce its first sales commitment in the growing Controlled Environment Agriculture (“CEA”) market. This key customer is a leading industry innovator in vertical farming with multiple US locations, and will be conducting a paid pilot of the BVT system as a crop productivity tool.
CEA involves growing crops indoors in a highly conditioned environment as the most common forms are greenhouse and vertical farming. Entering this sector is a significant growth opportunity for BVT given the global CEA market was valued at over US$74 billion in 2021 and is estimated to reach US$125 billion by 2027.(1)
“CEA is the future of agriculture, in particular for fresh produce,” said Ian Collinson, Sales Manager at BVT. “Growing crops vertically means we can grow more efficiently with greater yield and can be closer to urban centers where the bulk of fresh produce is consumed. It also means growers are no longer dependent on weather conditions, and therefore can operate 365 days a year with far less risk from external factors than traditional farming.”
This innovative agriculture method has several planet-friendly benefits. Farming vertically means 4-6 acres’ worth of crops can be grown in a single indoor acre.(2) The ability to grow food closer to major population centers limits the carbon footprint that results from transportation across great distances. Plus, this process uses 70-90% less water than conventional outdoor methods, and requires significantly fewer pesticides, fertilizers and far less heavy machinery.
“BVT is committed to helping farmers of all circumstances,” said Mr. Collinson. “We are pleased and excited to enter the growing CEA market. BVT’s natural precision agriculture system, which is OMRI-listed for organic use, can help indoor growers’ productivity by helping them produce better quality fruits and vegetables – and provide consumers with premium products.”
Separately, the Company is announcing the resignation of Mr. Mark Kohler from the Company’s board of directors, effective October 7th, 2022. Mr. Kohler has stepped down for personal reasons. However, Mr. Kohler will continue in a limited capacity as an advisor in assisting the Company meet its milestones. The Company would like to thank Mr. Kohler for his board contributions to the Company and wishes him well with his future endeavors and looks forward to working with him in this new capacity. Management of the Company will undertake to find a replacement board member for Mr. Kohler; a subsequent announcement will be made in due course.
(1)(2) Source: Maximize Market Research, 2022
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 over 65 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.
Additional information can be viewed at the Company’s website www.beevt.com. To receive regular news updates from the Company, subscribe at www.beevt.com/newsletter.
Company Contact:
Ashish Malik, President & CEO
info@beevt.com
Investor Contacts:
Babak Pedram (Canada & International)
Virtus Advisory Group
Tel: 416-995-8651
bpedram@virtusadvisory.com
William Maze (United States)
RB Milestone Group LLC (RBMG)
bee@rbmilestone.com
The CSE has neither approved nor disapproved the contents of this press release. The CSE does not accept responsibility for the adequacy or accuracy of this release. Certain statements contained in this press release constitute “forward-looking information” as such term is defined in applicable Canadian securities legislation. The words “may”, “would”, “could”, “should”, “potential”, “will”, “seek”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions as they relate to the Company, “annual revenue potential”, are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company’s current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions, including: planted acres, selling price of competitive chemical pesticides and the US to Canadian dollar exchange rate. Material factors or assumptions were applied in providing forward-looking information. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include changes in law, competition, litigation, the ability to implement business strategies and pursue business opportunities, state of the capital markets, the availability of funds and resources to pursue operations, new technologies, the ability to protect intellectual property rights, the ability to obtain patent protection for products, third-party intellectual property infringement claims, regulatory changes affecting products, failing research and development activities, the ability to reach and sustain profitability, dependence on business and technical experts, the ability to effectively manage business operations and growth, issuance of debt, dilution of existing securities, volatility of publicly traded securities, potential conflicts of interest, unlikelihood of dividend payments, the potential costs stemming from defending third-party intellectual property infringement claims, the ability to secure relationships with manufacturers and purchasers, as well as general economic, market and business conditions, as well as those risk factors discussed or referred to in the Company’s Filing Statement dated August 14,2020, filed with the CSE and securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law. All figures are in Canadian dollars.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/140187
Related Quotes
Shares of Moderna surged more than 11% on Wednesday after the biotech company [announced](https://investors.modernatx.com/news/news-details/2022/Merck-and-Moderna-Announce-Exercise-of-Option-by-Merck-for-Joint-Development-and-Commercialization-of-Investigational-Personalized-Cancer-Vaccine/default.aspx) it would develop and sell a personalized cancer vaccine with Merck. The stock was the biggest gainer on the S 500 around midday. Shares of Merck were little changed. Merck will pay Moderna $250 m
Energy inflation remains a serious concern. Protect your portfolio.
You have just a few weeks to pounce on Treasury I bonds' sky-high interest rate. Also called Series I savings bonds, their interest rate is 9.62%.
Yahoo Finance Live anchor Akiko Fujita details a new report that chipmaker Intel is planning to cut costs by laying off thousands of employees.
The big question: Has the market hit a bottom yet? Well, according to Oppenheimer's Head of Technical Analysis Ari Wald, there are signs one is forming, the most notable of which is that the Russell 2000 index – the barometer for small-cap stocks – “held to the June lows in the most recent late Q3 move to the downside." Wald also notes that the signal of a market top is when the S&P 500 makes a “higher high, and small caps make a lower high," and we are currently seeing the opposite scenario pla
Stocks were quiet Wednesday, as investors avoided rallying into the CPI inflation report. EV plays Albemarle and Aehr Test Systems dived.
Altogether, the seasonally adjusted inflation still stood at 8.3% over the past 12 months in August. “High inflation is unlikely to become a permanent feature of the economy,” Aliaga-Diaz assured, adding that “central banks are trying hard to bring it down” though that “may cost them a mild recession.” Instead, Aliaga-Diaz says the best strategy is to look ahead “over medium and long-term horizons,” and that the “odds are that markets will be better than the last few months.”
I'm 63 and have zero retirement, just Social Security benefits. How can I begin saving? And where can I begin investing this late in the game? -Rita Saving for retirement is certainly easier and has a greater impact on you … Continue reading → The post Ask an Advisor: I'm 63, Have No Retirement Savings and Will Rely on Social Security. How Do I Begin Saving? Is It Too Late to Start Investing ‘This Late in the Game'? appeared first on SmartAsset Blog.
After months of waiting, the Japanese carmaker is taking a big loss as it finally leaves Russia.
(Bloomberg) — The Biden administration’s new restrictions on doing business with China are sending shock waves through the global semiconductor industry, with chip-equipment makers girding for perhaps the most painful fallout. Most Read from BloombergIntel Is Planning Thousands of Job Cuts in Face of PC SlumpHere’s How Weird Things Are Getting in the Housing MarketPutin Says All Infrastructure at Risk After Nord Stream HitAlex Jones Must Pay $965 Million for His Sandy Hook LiesUS Core Inflation
Don’t assume the worst is over, says investor Larry McDonald. McDonald, founder of The Bear Traps Report and author of “A Colossal Failure of Common Sense,” which described the 2008 failure of Lehman Brothers, expects more turmoil in the bond market, in part, because “there is $50 trillion more in world debt today than there was in 2018.” The bond market dwarfs the stock market — both have fallen this year, although the rise in interest rates has been worse for bond investors because of the inverse relationship between rates (yields) and bond prices.
Those hoping for the fourth quarter to herald a stock market comeback have been disappointed so far. A late-year rally has yet to properly materialize with the market still factoring further turmoil as the fight against inflation continues and the specter of a recession remains. However, while the prospect of a recession looms, Morgan Stanley’s Investment Management Managing Director Andrew Slimmon points out that many stocks already appear to be taking for granted the likelihood of a recession.
Analysts at Cowen Group and Morgan Stanley see significant upside for investors that own these Warren Buffett stocks.
(Bloomberg) — JPMorgan Chase & Co.’s boss Jamie Dimon says the US stock market could suffer another “easy 20%” drop, which would push the benchmark index below 3,000 — a level it hasn’t seen since the depths of the coronavirus pandemic. So what would another slide of that magnitude actually look like and which stocks would get hit hardest? For one thing, it would be painful for investors, with technology and so-called growth shares likely taking the brunt of the suffering, with their elevated
This conflict most often occurs between two major makers of laptop and desktop computers, tablets, and mobile devices: Apple and Microsoft . Apple's Mac computers and iPhones are ridiculously easy to pair up. Thanks to Apple's "AirDrop" feature, you can send pictures and website links between your computer and your cell phone.
In this article, we shall discuss the top 12 picks in Carl Icahn’s stock portfolio. To skip our detailed analysis of Icahn’s history, his investment strategy, and hedge fund performance, go directly and see Carl Icahn Stock Portfolio: Top 5 Picks. Carl Icahn is an American financier and currently serves as the Chief Executive Officer […]
UBS Group analyst Robin Farley released a bullish note on Norwegian Cruise Line Holdings (NYSE: NCLH) earlier Wednesday that also lifted other leading travel stocks Carnival (NYSE: CCL) (NYSE: CUK) and Royal Caribbean Cruises (NYSE: RCL). As of 11:36 a.m. ET on Wednesday, shares of Norwegian Cruise Line were up 7%, with Carnival up 4.7% and Royal Caribbean up 5.2%.
“After too many years of paying for oversight, I finally woke up to the reality that it cannot be in the investor’s best interest as long as the manager is rewarded for assets under management.” Well, firstly the AUM model — which stands for assets under management and is often a flat 1% of one’s assets — isn’t without controversy.
Nearly half of IBM’s roles—known as “new collar” jobs—no longer require a college degree, says former CEO and chairman Ginni Rometty.
It's looking like a rough day for stocks. Our call of the day is a look at the future and a billion-dollar industry and some stocks to play it, from Citigroup.