LANGLEY, BC, Feb. 15, 2012 /CNW/ - The Natural Sciences and Engineering
Research Council of Canada (NSERC) has approved a co-sponsored research
grant submitted by Bevo Agro Inc. (TSX-V: BVO) and The University of
British Columbia (UBC). The purpose of the grant is to develop a new
cultivar of Pawpaw (Asimina triloba), North America's largest native fruit.
In August 2011, Bevo, in concert with Dr. Kermit Ritland, a professor
and plant geneticist at UBC, applied to NSERC for a $200,000 grant,
(requiring matching support from Bevo), for a four year research
program aimed at establishing a new patentable Pawpaw cultivar. This
small tree, produces a tropical-like fruit similar in size and shape to
a mango, and having a banana-mango flavour. Due to certain genetic
characteristics including a short shelf life, large inedible seeds, and
low fruit yields, to date, the Pawpaw has not been an attractive
candidate for broad commercialization. Our research program aims to
create a new commercially viable cultivar.
After a review of the grant proposal by an NSERC appointed
scientific/industrial committee, the grant was conditionally approved
in December 2011 pending the execution of a collaborative research
agreement between Bevo and the University of British Columbia, which
will administer the grant and direct the research program. The
collaborative research agreement came into effect on February 06, 2012.
Bevo Agro is North America's leading supplier of propagated agricultural
plants, growing and distributing vegetable, flower, berry and other
plant seedlings to North America's growers. Bevo propagates quality
seedlings and plants for wholesale vegetable greenhouse growers, field
growers and nursery operators from its 40 acres of greenhouse and
related production infrastructure.
NSERC, an agency of the Government of Canada, promotes and supports
discovery research, and fosters innovation by encouraging Canadian
companies to participate and invest in research projects carried out at
Canadian universities. Additionally, it helps to train university
graduate students in their advanced studies, through participation in
NSERC funded research programs.
Neither the 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.
SOURCE Bevo Agro Inc.
For further information:
Jack Benne, President
Bevo Agro Inc.
Phone: (604) 888-0420
Fax: (604) 888-8048