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Bee Vectoring Secures First Revenue Generating Sales Agreements
Oct. 25, 2017 08:32AM PST
Cleantech InvestingBee Vectoring Technologies (TSXV:BEE) has announced it has secured revenue commitments from a number of strawberry growers in Florida for the upcoming 2017 growing season. As quoted in the press release: “This is a very exciting milestone for BVT and validates our progression to the commercialization phase of our technology,” said Ashish Malik, BVT CEO. …
Bee Vectoring Technologies (TSXV:BEE) has announced it has secured revenue commitments from a number of strawberry growers in Florida for the upcoming 2017 growing season.
As quoted in the press release:
“This is a very exciting milestone for BVT and validates our progression to the commercialization phase of our technology,” said Ashish Malik, BVT CEO. “We have had a round of very positive discussions and negotiations with growers, including with those who have previously trialed the BVT system as well as some new to the technology. All of these meetings further confirmed the market fit and promise of our technology. Multiple growers have committed to using the BVT system this winter and these sales are expected to start in December 2017 or January 2018 when the system will be set up in the grower fields. This is a pilot launch and while in the coming weeks we will confirm the exact quantity of acres where the system will be used, we expect it to be for a few hundred acres, which means strawberry crops worth close to US$10 million for the season could be treated with our system”.
As previously detailed in the launch strategy for its System (press release September 7, 2017), the Company held launch events and several face to face meetings with growers in Hillsborough County, Florida during October. The system, which is comprised of a bumble bee hive with dispenser technology including a replaceable tray through which BVT’s proprietary plant beneficial microbe is delivered to crops using bumble bees, will be priced as a complete “turnkey” system to simplify adoption by the growers. Growers will use the system under a special license obtained from the State of Florida as a plant amendment. The growers will be billed multiple times during the growing season for each acre where the BVT System is being used. The System will be setup, maintained, and disposed of at the end of the season by Guardian Soil Solutions, BVT’s distribution partner.
