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Be the first with the news that moves the market- Bee Vectoring Technologies (TSXV:BEE) has announced that it will start conducting trials of its bee delivery system in Morocco
- The company is talking with commercial partners from the region, who want to introduce the technology to Moroccan growers
- One of the potential partners will conduct a trial program, testing BVT’s bees on four different crops
- Morocco’s climate and extensive agricultural industry make it a market with tremendous opportunity for the company
- Bee Vectoring Technologies (BEE) is up 20 per cent, and is currently trading for C$0.42 per share
Bee Vectoring Technologies (TSXV:BEE) has announced that it will start trialling its bee-delivered crop productivity system in Morocco.
The company’s technology uses commercially reared bees to deliver natural pesticide alternatives to crops as they pollinate them.
BVT is currently in discussions with commercial partners in the region, who are interested in collaborating with the company. The idea is to bring BVT’s proprietary system to market for farmers and growers in Morocco.
One potential partner from the region already has plans to conduct a significant trial program. The trial will test the bee vectoring technology on strawberry, raspberry, blueberry and tomato crops.
BVT’s CEO, Ashish Malik, called these large-scale demonstrations the first stage in BVT’s path to commercialisation in Morocco.
“We chose Morocco to launch BVT’s efforts in Africa, because the country is a large, progressive, and growing exporter to the vast European market,” he said.
The country’s unique climate allows its farmers to grow berries for ten months out of the year. As such, its agricultural industry employs approximately 40 per cent of Morocco’s workforce, and contributes about 16 per cent of the national GDP.
The country’s main berry crop is currently strawberries, although blueberries and raspberries are catching up. In the last few years, Moroccan blueberry and raspberry production has tripled.
“Morocco has 26,000 hectares of greenhouse production,” Ashish continued.
“Our early assessment has identified an estimated 3,000 hectares of strawberries, 2,000 hectares of raspberries, 2,000 hectares of blueberries, and 6,000 hectares of tomatoes. Moroccan growers are well versed in the use of bumblebees in these crops, so this market is a perfect fit for us,” he said.
The company has indicated that BVT’s demonstrations will start in the summer season. They will occur as the blooming period for tomatoes, strawberries, blueberries, and raspberries takes place.
Bee Vectoring Technologies (BEE) is up 20 per cent, trading for C$0.42 per share as of 9:32am EST.
