- Bee Vectoring Technologies International (BEE) has completed three registration trials in Mexico for its CR-7 biological fungicide
- The trials, which are a registration requirement for commercialization, were carried out on commercial strawberry and tomato crops
- Trial results will be submitted to Mexican regulatory authorities for review over the coming weeks
- In preparation for commercial launch, the company has commenced market development activities while it waits for final approval
- Shares in Bee Vectoring Technologies are currently up 12.73 per cent to C$0.62, with a market cap of $45.29 million
Bee Vectoring Technologies International (BEE) has announced the completion of three registration trials in Mexico for its CR-7 biological fungicide.
Registration trials are a requirement in regulatory processes in Mexico, and were carried out on commercial strawberry and tomato crops with the assistance of a government approved researcher.
The trial results will be submitted to the Mexican regulatory authorities over the coming weeks, having confirmed the effectiveness of CR-7 in controlling crop diseases.
“As soon as regulatory approval is granted in Mexico, BVT is ready to move into commercial operation and execute on its Mexico market sales strategy,” said Bee Vectoring Technologies CEO, Ashish Malik.
“If the regulatory submission process goes as planned without any follow up review required, we could see Mexico registration in place later this year. Having already successfully gone through what many consider a more rigorous process with the US EPA, we are confident that we are poised to complete and achieve this approval in a timely fashion.”
Separate trials were also completed at Mexican berry farms using the company’s Vectorite™ product – a powder that allows bees to carry disease control substances on their outbound flights across crops.
Growers at these farms reportedly saw positive results and have agreed to further trials on larger plot sizes in the next growing season.
“Currently, Mexico uses C$330 million worth of chemical fungicides per year,” added Mr. Malik.
“The use of biologicals in place of chemical fungicides is a fast-growing trend and an increasing number of growers are modifying production practices to meet higher food safety and quality standards with less chemical input.”
Bee Vectoring Technologies has commenced market development activities in order to prepare for a commercial launch and is waiting on final approval from regulatory authorities in Mexico.
Shares in the company responded well to the news, up 12.73 per cent to C$0.62, with a market cap of C$45.29 million.