Though most people will understandably make an effort to stay far away from bees, in reality, our lives are dependent upon a thriving bee population. As insects that are responsible for nearly one-third of the United States’ food population, individuals and companies alike begin to take notice when bee populations begin to wane, but unfortunately, that’s precisely what’s been happening in recent years. Bee Vectoring Technologies International Inc ($BEE:CA) is one such company that is dependent upon a thriving bee population.
Earlier this week, Bee Vectoring announced that the company has received $1.6 million in subscription commitments, and the company is near completion of a non-brokered private placement. The net proceeds of the offering will be used for general purposes, hiring, and EPA approvals. Furthermore, with a number of factors contributing to the declining bee population, such as environmental stress, bacteria and a lack of pollen, the agricultural market is looking for solutions that would lessen the negative impact on the bee population. Therefore, the proceeds will also fund the development of Bee Vectoring’s Ontario-based manufacturing plant that will produce the company’s organic pesticides.
Through their inoculum dispenser system, where bees are used to deliver natural biocontrol agents and fungal pathogens to flowering plants, Bee Vectoring is harnessing the power of nature to revolutionize the agricultural industry.
“Chemical pesticides lose their efficacy as the pathogens become immune to their properties, just like humans and the antibiotics. Biologicals don’t have the same issues,” said Michael Collinson, President, CEO, and Chairman of Bee Vectoring Technologies.“The BVT process is a lot less expensive, more efficient, uses substantially less product, is more environmentally friendly, and definitely represents the leading edge of where agriculture is going. BVT has the ability to “stack” multiple pathogens controls into their unique patent pending systems thereby delivering controls throughout a bloom period as opposed to spraying once or twice during the same period. Naturally perfect.”
This announcement follows the company’s recent feature on Business News Network’s Market Call Tonight. Bee Vectoring also began trading on the TSX Venture Exchange this past July.
“This is probably one of the more exciting areas inside agricultural sector right now,” said Collinson. “Pesticides are a $70 or $80 billion industry and Biologicals are growing at a rate of 18% year-over-year, making it one of the fastest growing segments in the industry. This is the area where companies are paying the most attention. The cost to deliver a new product today or develop a new pesticide is in excess of $250 million.”
The significance of Bee Vectoring’s million-dollar private placement goes beyond dollars and cents. Their mission to enable efficient and safe crop control will usher in a new generation of corporate responsibility while keeping the bee population abuzz.
To learn more about Bee Vectoring Technologies, visit www.beevt.com.
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