MISSISSAUGA, ONTARIO–(Marketwired – Oct. 25, 2016) – Bee Vectoring Technologies (the “Company” or “BVT”) (TSX VENTURE:BEE) is pleased to announce that it has received notice of allowance of key patent applications from the US and Mexican patent and trademark offices.
- US Patent Application No. 14/763,857; Entitled: Apparatus for Treatment of Plants
- Mexico Patent Application No. MX/a/2013/011695; Entitled: Apparatus for Treatment of Plants
BVT’s technology 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 specially designed 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 CEO, Ashish Malik said “These latest patents continue to build on the strength of BVT’s technology portfolio which is a cornerstone of our long term strategy. As we focus towards full commercialization of the technology, US and Mexico represent two countries where we see significant revenue opportunities, and where we are currently conducting research and demonstration trials with growers across several crops. These patents create a competitive advantage for us, and will ensure we can capture full value for our system.”
The Company is pursuing an aggressive IP strategy that covers four different patent families and 60 patent applications worldwide. This latest US Patent allowance is the first for the 4th family of patents and builds on previously granted patents on the apparatus.
BVT has developed and owns patent-pending bee vectoring technology (consisting of a proprietary tray dispenser containing a unique carrier agent) that is designed to harmlessly utilize commercially reared bumblebees as natural delivery mechanisms for a variety of powdered mixtures comprised of organic compounds that inhibit or eliminate common crop diseases, while at the same time stimulating and enhancing the same crops. This unique and proprietary process facilitates a targeted delivery of crop controls using the simple process of bee pollination to replace traditional crop spraying, resulting in better yield, organic product 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
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.
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