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(Sharecast News) - BATM Advanced Communications has been awarded a $4m contract by a Taiwanese agri-food conglomerate for its agri-waste treatment solution.
The company, which provides real-time technologies for networking solutions and medical laboratory systems, will be paid 30% of the contract value by the end of the year. It will receive the rest on completion, which is expected to be towards the end of 2020.
The contract is for the supply and installation of three units of BATM's group's agri-waste treatment solution for two separate poultry processing facilities. The company's proprietary solution will be used in the rendering process to allow the safe treatment of poultry remains to generate valuable proteins.
The customer, who was not named, has business activities that span the agri-food supply chain in Taiwan, mainland China and elsewhere in Asia. BATM said it will be able to utilise the proteins for the production of animal nutrition.
Chief executive officer Zvi Marom 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."
At 1310 GMT, the shares were up 2.1% at 42.46p.
23 Nov 2016 10:18