An entrepreneur sees significant economic potential in the North Okanagan.
Michael Collingson, president of Bee Vectoring Technology, was recently in Vernon.
“Vernon is a gem. I really enjoyed my visit,” he said.
“Bee Vectoring is excited to create relationships with long-term farmers like Derek Krueger. Our products can offer some new solutions.”
Bee Vectoring Technologies’ proprietary invention is a tray of organic pesticides that attach to artificial hives. Bees exiting the hive are covered in spores, which they transfer to crops. The product is already being used by organic and non-organic farmers.
Claude Fluckinger, an advising director with the company, says the technology allows farmers cut their pesticide use by 20 to 100 per cent depending on the crop.
There is the potential of a company buyout.
Fluckinger says there is a precedent for a buyout, since most big chemical firms don’t do very much research in the field of biology and usually opt to buy small firms.
“Bayer recently bought AgraQuest. That company only had a $30-million turnover, but they bought it for $430-million,” he said.
“It’s an opportunity to build this company to a point where you either make a lot of money or maybe you are bought up by somebody.”
Collingson spent the day visiting brokers in Vernon and ended the night with a private dinner at the Italian Kitchen.