Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Bee Vectoring Technologies (TSXV:BEE) has begun trialing its pest and disease management system at two cranberry farms in Massachusetts and New Jersey
  • The trials will assess the effectiveness of the company’s precision agriculture CR-7 technology in improving crop health and reducing fruit rot
  • This represents a new market for the company, following its previous success in the strawberry and blueberry sectors
  • The company has also attracted attention from several universities and the US Department of Agriculture, who plan to follow the progress of the trials
  • Bee Vectoring Technologies (BEE) is currently steady at C$0.40 per share, with a market cap of $33.43 million

Bee Vectoring Technologies (TSXV:BEE) is set to begin trials of its CR-7 system on cranberry farms in Massachusetts and New Jersey.

The trials are scheduled to begin in late-June and will assess the effectiveness of the company’s precision agriculture CR-7 technology in improving crop health and reducing fruit rot.

Growers are continually looking for new ways to fight fruit rot-inducing fungal pathogens, which have been shown to develop a resistance to existing solutions over time.

CR-7, or Clonostachys rosea, acts as a natural pesticide alternative. The biological compound is delivered directly to the crops via commercially grown bees.

As a result, growers use a heavily reduced amount of crop protection products that would otherwise be required with traditional spray applications. Water consumption and fossil fuel usage is also significantly reduced.

Ashish Malik, CEO of Bee Vectoring Technologies, noted that the company has already been successful in establishing itself in the strawberry and blueberry markets.

“Cranberries are our next big crop opportunity in America, where we have EPA approval for commercial operations.

“The farmer-owned cooperative involved with these trials is especially interested in the results since the BVT system aligns closely with their commitment to sustainable agriculture,” he said.

Bee Vectoring Technologies will conduct the trials with researchers from the University of Massachusetts and New Jersey’s Rutgers University. The company is also in negotiations with the US Department of Agriculture, which has shown interest in following the progress of the trials.

The US cranberry market hosts approximately 41,500 acres of commercial cranberry land and, therefore, represents a significant opportunity for the company. 

In addition, North America generates roughly 98 per cent of the world’s total cranberry supply.

Bee Vectoring Technologies (BEE) is currently steady at C$0.40 per share, as of 10:14am EDT.

More From The Market Herald

" @ the Bell: Recession fears continue to erode markets

Canada’s main stock index descended as the price of oil fell and losses in the energy sector weighed on the Toronto market.
The Market Herald Video

" Precipitate Gold (TSXV:PRG) completes diamond drilling program at Motherlode Gold Project

Precipitate Gold Corp. (PRG) has completed a 2,716-metre diamond-drilling program at the Motherlode Gold Project in Newfoundland.

" @ the Bell: Another red day for the markets

Losses in the energy and technology sectors helped push Canada’s main stock index to a steep decline on Tuesday.

" Canadian Neobank Fintech RevoluGROUP reaches apex of M&A talks

Time certainly flies, and even more so in the fast-paced Fintech space.