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Be the first with the news that moves the market- Bee Vectoring Technologies (BEE) enters the high-growth controlled environment agriculture market
- The sale is a major move for the company
- Entering this sector marks a growth opportunity for BVT, given the global CEA market was valued at over US$74 billion in 2021,
- Also, Mark Kohler resigned from the company’s board of directors on October 7
- Kohler has stepped down for personal reasons and will continue in a limited capacity as an advisor in assisting the company to meet its milestones
- Bee Vectoring Technologies International (BEE) is down 6.06 per cent, trading at C$0.16 at 10:21 am EST
Bee Vectoring Technologies International (BEE) has made its first sales commitment in the growing Controlled Environment Agriculture market.
The sale is a major move for the company.
CEA involves growing crops indoors in a highly conditioned environment, as the most common forms are greenhouse and vertical farming.
Entering this sector marks a growth opportunity for BVT, given the global CEA market was valued at over US$74 billion in 2021, estimated to reach US$125 billion by the year 2027.
“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 be closer to urban centers where the bulk of fresh produce is consumed, added Collinson.
Also, Mark Kohler resigned from the company’s board of directors on October 7.
Kohler has stepped down for personal reasons and will continue in a limited capacity as an advisor in assisting the company in meeting its milestones.
Management is looking to find a replacement for Kohler, and the public will be notified when a person has been selected.
BVT has made 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.
Bee Vectoring Technologies International (BEE) is down 6.06 per cent, trading at C$0.16 at 10:21 am EST.
