BATM Advanced Communications Limited (LON:BVC) has won a contract with a Philippines-based company for its agri-waste treatment solution, its first customer outside of Israel.
The group, which operates both bio-medical and cyber divisions, said the contract was worth around US$1.5mln, with 40% paid upfront, and would be delivered in 2019.
The deal with the Philippine firm, which is part of a major food manufacturing group, involves the installation of BATM’s agri-waste treatment solution in a poultry processing facility to allow the safe treatment of remains and generate proteins.
BATM said the advantage of its solution was that the treatment of the remains would be carried out on site without the use of hazardous chemicals and without producing environmental damage.
Dr Zvi Marom, chief executive of BATM, said that since launching the agri-waste offering the company had received “increasing interest from an international clientele” and that they looked forward to “signing more contracts with other companies in the group during the year”.
In a note to clients, analysts at the company’s broker Shore Capital said the win was “significant” for BATM’s Celitron division in agriculture and provided evidence that the technology was “becoming a referenceable and proven technology solution to an important area of environmental hazard”.
“BATM has also utilised this technology in the medical and pharmaceutical field with over 400 medical waste units deployed to date. We see equal significant potential in agriculture.”
In mid-morning trading Tuesday, BATM shares were down 0.2% at 46.5p.
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