(Alliance News) - BATM Advanced Communications Ltd on Thursday said it has been awarded a USD4 million contract by an undisclosed Taiwanese firm for its agri-waste treatment solution.
The stock was trading 2.2% higher in London on Thursday midday at 42.50 pence a share.
The cyber solutions and biomedical systems provider said it is due to be paid 30% of the contract value by the end of December and will receive the remainder upon completion, which is expected to be towards the end of 2020.
BATM explained that the contract is for the supply and installation of three units of its agri-waste treatment solution for two separate poultry processing facilities. This solution will then be used in the rendering process to allow the safe treatment of poultry remains to generate valuable proteins.
BATM was awarded the contract after a competitive process against several companies, it 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," said Chief Executive Zvi Marom.
"We are excited about the potential for the agri-waste treatment solution and look forward to reporting our progress," added Marom.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Batm Advanced (BVC)