BATM Advanced Communications Ld $4m agri-waste treatment contract in Taiwan (7304V)
December 05 2019 - 2:00AM
UK Regulatory
TIDMBVC
RNS Number : 7304V
BATM Advanced Communications Ld
05 December 2019
LEI: 213800FLQUB9J289RU66
5 December 2019
BATM Advanced Communications Limited
("BATM" or "the Group")
BATM wins $4m contract for agri-waste treatment solution in
Taiwan
Expansion of international customer base with Taiwanese
agri-food conglomerate
BATM (LSE: BVC; TASE: BVC), a leading provider of real-time
technologies for networking solutions and medical laboratory
systems, announces that it has been awarded a $4m contract by a
Taiwanese agri-food conglomerate for the Group's agri-waste
treatment solution. The Group is due to be paid 30% of the contract
value by the end of December 2019 and will receive the remainder
upon completion, which is expected to be towards the end of
2020.
The contract is for the supply and installation of three units
of the Group's agri-waste treatment solution for two separate
poultry processing facilities. The Group's proprietary solution,
which is based on its Integrated Sterilizer and Shredder patented
technology ("ISS"), will be used in the rendering process to allow
the safe treatment of poultry remains to generate valuable
proteins. The customer, whose business activities span the
agri-food supply chain in Taiwan, mainland China and elsewhere in
Asia, will be able to utilise the proteins for the production of
animal nutrition.
BATM was awarded the contract after a competitive process
against several global companies. The Group's solution was selected
owing to the strength of its ISS technology. BATM's solution
enables the treatment of poultry remains onsite, which removes the
environmental hazards associated with transporting the remains, and
without the use of any harmful materials, chemicals or methods. The
process also does not have a negative environmental impact or
result in any damaging by-products, including odour.
Dr Zvi Marom, Chief Executive Officer of BATM, said: "We are
pleased to have signed another international customer for our
innovative agri-waste treatment solution following the receipt of
our first order in the Philippines earlier this year. We believe
that winning this competitive tender is affirmation that our
technology-led solution can disrupt this market that is still using
decades-old processes. The increasing commercial traction and
momentum of orders from leading food groups globally is welcome
validation of the value that our solution brings to our
customers.
"Ensuring protein security is a major global issue and we offer
an environmentally-friendly and effective solution. We expect to
receive further orders for our agri-waste treatment solution and
believe that application of our ISS technology will expand beyond
animal rendering to generate additional value for the Group. We are
excited about the potential for the agri-waste treatment solution
and look forward to reporting our progress."
Enquiries:
BATM Advanced Communications
Dr Zvi Marom, Chief Executive Officer +972 9866 2525
Moti Nagar, Chief Financial Officer
Shore Capital
Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory)
Henry Willcocks (Corporate Broking) +44 20 7408 4050
Luther Pendragon
Harry Chathli, Claire Norbury, Rachel So +44 20 7618 9100
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END
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