MISSISSAUGA, ONTARIO--(Marketwired - Apr 13, 2017) - Bee Vectoring Technologies International Inc. (the "Company" or "BVT") (TSX VENTURE:BEE) is pleased to announce the European Patent Office (EPO) has granted Patent Application No. 2693871 entitled: Apparatus for Treatment of Plants.
With the grant by the EPO the Company can now validate the patent in the 38 countries that are Member States of the European Patent Organisation. This is a procedural step, which includes filing some paperwork and paying a validation fee, but no further review is required. The Company will validate the patent in countries based on the size of the market opportunity that exists in each country.
BVT CEO Ashish Malik said, "Europe as a region represents a significant revenue opportunity for the Company. The market forces driving growers to adopt sustainable crop production practices are significant across Europe. They favor the reduction in use of chemicals and adoption of practices that reduce the impact of agriculture on the environment have been faster in Europe than in other regions. This is what BVT's system is all about." Malik added, "This is our first patent approved by the EPO; 3 other patents are currently under review. As we develop our system for growers across Europe and advance our business development discussions with potential partners, this patent and the others that will follow, will allow us to assert our intellectual property rights and give us a competitive advantage."
BVT's technology described in the patent includes a specialist apparatus for the treatment of plants with inoculants and control agents to manage diverse diseases and pests and enhance the yield and quality of crops. The inoculants and control agents are housed in proprietary removable trays within a dispenser system that is incorporated in the lid of commercial bumble bee hives. The bumble bees pick up the product on their way out of the hive and deliver the treatment to the plant in a very targeted and sustainable way. BVT has also filed a patent application with the US patent office for a unique and novel system that allows the delivery of plant protection products to crops using commercial honeybees.
The Company is pursuing an aggressive Intellectual Property (IP) strategy that covers five different patent families and 60 patent applications worldwide. The IP strategy supports the Company's documented growth strategy to selectively expand its market opportunities while it continues down the path towards securing US Environmental Protection Agency (EPA) regulatory approval of its BVT-CR7 beneficial microbe and drives towards commercialization of its proprietary system.
BVT has developed and owns patent-pending bee vectoring technology that is designed to harmlessly utilize bumblebees and honeybees as natural delivery mechanisms for a variety of powdered mixtures comprised of organic compounds that inhibit or control common crop diseases, while at the same time enhancing crop vigor and productivity. This unique and proprietary process enables a targeted delivery of crop controls using the simple process of bee pollination to replace traditional crop spraying, resulting in better yields, superior quality, and less impact on the environment without the use of water or disruptions to labour.
Additional information can be viewed at the Company's website www.beevt.com.
On Behalf of Bee Vectoring Technologies International Inc.,
Ashish Malik, President & CEO
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This press release contains certain "forward-looking statements" that involve known and unknown risks and uncertainties. All statements in this press release, other than statements of historical fact, that address events or developments that BVT expects to occur, are forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements with respect to BVT'S future plans and technologies, including the timing of such plans and technologies. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "indicate" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although BVT believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include continued availability of capital, financing and required resources (such as human resources, equipment and/or other capital resources), and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of BVT'S management on the date the statements are made. BVT undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, except as required by law.