The board of directors of Bee Vectoring Technologies International Inc. announced that it is exploring strategic alternatives, including a potential sale, to enhance the company’s ability to bring innovative biocontrol technologies to market.

In a news release today, the company stated this decision is “driven by the goal of identifying a more capitalized parent company that can amplify the commercial success of BVT’s groundbreaking solutions.”

BVT stated it has demonstrated success with its proprietary biological control agent, Clonostachys rosea strain CR-7 (CR-7), in global field trials and is witnessing the early stages of commercialization.

“The company has developed both a viable biofungicide for seed treatment, foliar and soil applications, and a novel delivery system for biopesticide solutions, generally. We have reached a critical inflection point in our company’s life cycle, transitioning from a predominantly R&D-focused entity, BVT is now poised to accelerate its commercialization efforts,” said Michael Collinson, chairman of the board.

The company stated that a notable achievement is the vectoring delivery system for its biofungicide, which has held EPA registration since 2019. “This technology exemplifies BVT’s innovative approach and potential for significant market impact. Despite a significant reduction in sales and marketing investments, brought by the need to manage its operations to maintain financial stability in current capital market challenges, BVT continues to receive strong support from its customer base. Approximately 20 returning customers have placed orders thus far this season, underscoring the effectiveness and return on investment provided by BVT’s natural precision agriculture system.”

The agribusiness industry team of Roth Capital Partners has been retained as the exclusive financial adviser to the board.