Phoenix, Nov. 29, 2016 (GLOBE NEWSWIRE) -- Jean Ekobo, CEO of BioNovelus Inc. recently attended the ‘Sintercafe - International Coffee Week,’ the largest coffee convention in Central America. This year, Sintercafé celebrated its 30th anniversary in San Jose, Costa Rica, with an attendance of approximately 500 participants, from 25 countries including both coffee producers and consumers.
The coffee industry is the second largest commodity market in the world to the oil industry (Source: Business Insider). Since the late 19th century, the coffee industry has been plagued by Coffee Rust or "Roya" (Hemileia vastatrix) a devastating fungus that attacks the Arabica plant. Billions of dollars and hundreds of thousands of industry jobs have been lost throughout Central America since 2012 to this Coffee Rust epidemic. (Source: ICafé). The entire coffee belt from Indonesia to Africa, to Central and South America to Vietnam and Asia is seeking a remedy to this Coffee Rust epidemic.
‘Sintercafé - International Coffee Week’ presented the perfect occasion for BioNovelus Inc. to introduce its organic coffee rust killer, biofungicide, CR-10, following 9 months of highly successful testing in coffee plantations throughout Costa Rica and Guatemala. CR-10’s biodegradable solution as well as its organic, non-toxic yet highly effective coffee rust killing agent, is captivating coffee professionals from around the world.
At Sintercafé, BioNovelus’ CEO, Jean Ekobo met Craig Russell, the Executive Vice President of Starbucks Global Coffee, along with Starbucks’s team of agronomic engineers at ‘Hacienda Alsacia,’ Starbucks’ 240-hectare coffee farming research and development center. Always open to new solutions, the Starbucks Team asked to test CR-10 at Hacienda Alsacia.
Ekobo also met again with Costa Rican National Coffee Association, ICafé, to present an update and summary of all the CR-10 testing ongoing in 12 farms in Costa Rica and Guatemala. In support of BioNovelus, ICafé requested an opportunity to conduct a phase II testing. One of the objectives of a phase II testing is to prove that the organic product CR-10 can be as effective (if not more so) as its toxic chemical competitors in eradicating coffee rust. ICafé believes that there is no other organic product on the coffee-rust-killing-market, therefore, research on CR-10 has moved to the next level.
About Biofungicide CR-10
CR-10 is a proven, biodegradable, non-toxic solution that kills bacteria, fungi and spores rapidly, safely and effectively. It is a new generation of biofungicide with a unique mode of action. BioNovelus management believes that CR-10 has a broad range of uses in agricultural applications.
About BioNovelus Inc.
BioNovelus, Inc. (PINKSHEETS: ONOV) is a bioscience company that honors the environment with an innovative, cost effective and disruptive technology-based solution to agricultural and water problems.
We are determined to help coffee growers keep the better tasting strain of the Arabica plant by fighting coffee rust through our “green” CR-10 instead of being forced to change to “hybrid” type plants. We feel very strongly that our “green”, biodegradable product is not only better for our environment but for people who enjoy the rich flavor that comes from Arabica coffee beans, whether organic or not.
BioNovelus’ primary target market is the $100Billion* plus, annual, worldwide, coffee industry. (*Source: Business Insider)
This news release includes forward-looking statements covered by the Private Securities Litigation Reform Act of 1995. Because such statements deal with future events, they are subject to various risks and uncertainties and actual results for fiscal year 2016 and beyond could differ materially from the Company's current expectations. Forward-looking statements are identified by words such as "anticipates," "projects," "expects," "plans," "intends," "believes," "estimates," "targets," and other similar expressions that indicate trends and future events.
There is no assurance of if and when EPA approval will be obtained for CR-10 and various applications. There is no assurance that the coffee rust application will prove commercially viable. There is no assurance that any transaction will be done with Starbucks or any members of ICafé.
Factors that could cause the Company’s results to differ materially from forward looking statements regarding EPA approval and the efficacy of the CR-10 results a delay in EPA approval include the lack of capital needed to complete testing, the lack of experience with pursuing approval of this product and modifications that may be demanded by the EPA of the CR-10 formula. Factors that could cause lower rates of success in CR-10 eradication of fungi in coffee plantations and marijuana fields include the method and timing of applications of CR-10, the impact of heavy rain fall the strength of fungi contamination, and other environmental conditions resulting in re-infection. Factors that may impact transactions with Starbucks and members of ICafé include the alternatives of genetically modified crops, products of competitors, government approvals, and pricing.
Factors that could cause the Company's results to differ materially from those expressed in forward-looking statements include, without limitation, variation in demand and acceptance of the Company's products and services, general business and economic conditions beyond the Company's control the consequences of competitive factors in the marketplace including the ability to attract and retain customers, results of continuous improvement and other cost-containment strategies, and the Company's success in attracting and retaining key personnel. The Company undertakes no obligation to revise or update forward-looking statements as a result of new information, since these statements may no longer be accurate or timely.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933, and are subject to Rule 3B-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this press release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and other results and further events could differ materially from those anticipated in such statements. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.
For additional information: http://bionovelus.com
Last updated on: 30/11/2016
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