BATM Advanced Communications Ld $4m agri-waste treatment contract in Taiwan (7304V)

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                           [phone] 
Moti Nagar, Chief Financial Officer 
 
 
Shore Capital 
Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory) 
 Henry Willcocks (Corporate Broking)                            [phone] 
 
 
Luther Pendragon 
Harry Chathli, Claire Norbury, Rachel So                        [phone] 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

CNTUSOWRKVAURAA

(END) Dow Jones Newswires

December 05, 2019 02:00 ET (07:00 GMT)