- Bee Vectoring Technologies (BEE) has secured its first revenue commitments with US sunflower growers
- In the US alone, 1.3 million acres of sunflowers are harvested each year, making up a US$470 million sunflower market
- BVT has been working with North Dakota State University to develop its biological fungicide, providing important data when selling in the US sunflower market
- Bee Vectoring Technologies International Inc. (BEE) is down 3.23 per cent, trading at $0.30 per share
Bee Vectoring Technologies (BEE) has secured its first revenue commitments with US sunflower growers.
This entry into the sunflower market comes after a successful first year of North Dakota State University’s (NDSU) trials of BVT’s biological fungicide. These trials provide “critical data points” needed to sell in the US sunflower market.
“Successfully getting to initial revenue in the sunflower market is the result of BVT’s hard work and investment in conducting sunflower trials in the US Midwest, working closely with key university researchers in the crop who confirmed the potential of our product,” remarked Ian Collinson, BVT sales manager.
In the US alone, 1.3 million acres of sunflowers are harvested each year, making up a US$470 million sunflower market.
One of the major challenges faced by sunflower producers is the spread of Sclerotinia, a fungal disease that affects many sunflower crops.
Results from the NDSU trials validated the use of BVT’s technology and allowed the company to determine the hive distribution needed to achieve satisfactory Sclerotinia head rot control.
Data collected in the first year has also enabled BVT to identify the segments of the sunflower industry that have the greatest potential for the company’s system.
Ashish Malik, CEO of Bee Vectoring Technologies, commented on the company’s expansion into the sunflower market.
“What BVT has accomplished in the first half of 2021 has put us on a fast-track for accelerating growth, all due to our focus on diversifying the company’s revenue mix,” he said.
“With our success in multiple crops,” added Mr. Malik, “and as we continue to widen the geography of our sales reach, we are strengthening our foothold in the US which will expedite our business expansion.”
BVT will continue the state-funded trials through the next two growing seasons, to further strengthen the company’s value proposition.
Bee Vectoring Technologies is an agriculture technology company focused on pest control and crop enhancement with the use of biological controls.
Bee Vectoring Technologies International Inc. (BEE) is down 3.23 per cent, trading at $0.30 per share as of 12:37 pm ET.