Aug. 31, 2017
Bee Vectoring Technologies (BVT) announces it has received official organic certification in the US, and its proprietary formulation of Vectorite™ with BVT-CR7 is now listed by the Organic Materials Review Institute (OMRI).
The listing means the product meets the US Department of Agriculture’s (USDA) guidelines under the National Organic Program standard and is allowed for use in certified organic crops. The overall regulatory approval process for BVT-CR7 with the US Environmental Protection Agency (EPA) remains on track and a decision by the EPA on the approval for BVT-CR7 is expected in the first half of 2018.
“The US organic food industry is valued at close to $43 billion, and continues to grow around 10% per year,” stated Ashish Malik, CEO of BVT. “Organic growers however have a limited choice of products they can use to increase the productivity of their crops. The BVT system has been shown to have a unique value proposition for organic farmers, and delivers considerable value in multiple crops through better disease control and higher yields. With this certification, organic farmers will be able to begin adopting the solution once we gain final regulatory approval from the US EPA. This represents a significant business opportunity for BVT in an area of the industry experiencing growing consumer demand and where there are limited solutions available for protecting crops and increasing yields.”
The Company is continuing to successfully execute on its documented growth strategy while driving towards commercialization of its proprietary system. BVT is selectively expanding its market opportunities while continuing towards securing US Environmental Protection Agency (EPA) regulatory approval of its BVT-CR7 beneficial microbe.