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Monday / December 23. 2024

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HomePosts Tagged "CEO of BVT"
Agbiologicals, Agribusiness, Agrotech, Bee keeping, Company News, Fungicides, World

The approval covers delivery of CR-7 using both bumble bees and honeybees on various high value crops, including the berry group of crops and indoor vegetables.

Bee Vectoring Technologies International Inc. announced that the Company’s proprietary Vectorite with Clonostachys Rosea CR-7 (CR-7) has been approved by Mexico’s COFEPRIS (The Federal Commission for Protection from Sanitary Risks), the country’s health authority responsible for registration of plant protection products, for use as a fungicide on commercial crops. The approval covers delivery of CR-7 using both bumble bees and honeybees on various high value crops, including the berry group of crops and indoor vegetables.

“The success of BVT receiving regulatory approval for its product in Mexico is consistent with our strategy to focus on increasing the Company’s addressable market through geographic market expansion,” said Ashish Malik, CEO of BVT. “With US EPA approval in 2019, and now by adding Mexico COFEPRIS approval allowing BVT’s CR-7 to be sold in Mexico for the first time, we have significantly increased the market opportunity for commercial sales of the Company’s proprietary biological fungicide.”

Mexico’s growers offer significant market potential for BVT’s natural precision agriculture system: official statistics indicate that the country’s production in 2019 included 41,600 acres of strawberries, 12,100 acres of blueberries and over 377,000 acres of tomatoes and peppers.(1) In the same year, US imports of fresh and processed fruits and vegetables from Mexico amounted to US$15.6 billion.(2) The country uses US$1.3 billion worth of pesticides each year,(3) but an increasing number of growers are turning to biologicals as an alternative that offers better quality, greater food safety and reduces the need for chemicals.

“Having already completed demos with some berry growers in Mexico, and with the registration now in hand, BVT is in a great place to secure a commercial arrangement with a partner to bring our system to market in Mexico,” added Malik. “Mexico is a strategic market for BVT – being an export-oriented country where the growers are keen to adopt low- or no-chemical solutions to fight diseases and increase crop yields, BVT’s all-natural solution together with the classification of CR-7 being exempt from residue tolerance in the US, will provide them with a competitive advantage.”

Mexico’s COFEPRIS registration makes Vectorite with CR-7 available immediately for sale as a registered fungicide for use on the labelled crops.

The approval covers delivery of CR-7 using

Agrotech, Company News, North America, R&D

Year 2 trial data established that adding CR-7 over base seed treatment results in soybean plants producing higher yields as measured over 16 replicated plots across four locations.

Bee Vectoring Technologies International Inc. is pleased to announce positive second year trial results demonstrating the efficacy of BVT’s proprietary biological control agent Clonostachys rosea strain CR-7 (CR-7) as a seed treatment on soybeans.

Compared to the first-year trials, the second year included measuring CR-7’s effect on soybean yields. Year 2 trial data established that adding CR-7 over base seed treatment results in soybean plants producing higher yields as measured over 16 replicated plots across four locations when compared to the biological standard, and that CR-7 was equivalent to the chemical standard in terms of effectiveness. Other measures on plant health, vigor and plant biomass showed the same positive outcomes as in the first year, indicating the scalability of BVT’s proprietary CR-7 in the soybean seed treatment market.

“Wherever CR-7 was applied, the results outperformed the base seed treatment 81 per cent of the time. We observed, on average, a three-bushel yield per acre increase with CR-7 added, which is about 4 per cent higher than the base seed treatment. Although that may not sound dramatic, that is a meaningful improvement for a treatment that was applied at the very early stages of the planting season. Most seed treatments are designed to protect the seed from pests, but to see a positive increase in the yield at the end of the season is impressive,” said Dr Mason Newark, Field Technical Manager at BVT.

Year 1 and 2 trials were conducted in partnership with well-established soybean researchers in Iowa, Illinois, and Wisconsin, with a fourth location in Nebraska added in 2022 and resulted in consistently positive results year over year across all the states that have had trials so far. The 2022 trials continued assessing the efficacy of CR-7 added over base seed treatment on plant biomass and vigor, and demonstrated its effectiveness as a treatment against disease and soybean crop yields.

“Our corporate market strategy is to initially focus on soybeans as it’s a major row crop where major multinationals are heavily invested in,” said Ashish Malik, CEO of BVT. There are 320 million acres grown globally, with 86 million acres in the US, 98 million in Brazil and 40 million in Argentina. (1) 80 per cent of American soybeans receive seed treatment before planting, and approximately 50 per cent undergo a biological inoculant treatment.

The seed treatment market is specialized, with different and distinct channels in the major growing regions. A deep understanding of the genetics of seed varieties, and access to the distinct channels, including relationships with seed companies, are important to successfully penetrate the market. BVT intends to partner with seed treatment companies who have the expertise and channel access to accelerate our reach into this soybean acreage. BVT believes future licensing agreements hold potential for significant annual royalties from this application.

Year 2 trial data established that adding