31 May 2017
BATM Advanced Communications Limited
("BATM" or "the Group")
BATM awarded $1.1m extension order to first Mobile Agri-Waste Solution contract
BATM Advanced Communications Limited (LSE: BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, is pleased to announce that its Eco-Med (formerly 'Pathogenic Waste Treatment and Sterilisation') unit has received an extension order to its contract, originally announced on 7 March 2017, for the delivery of the world's first mobile agri-waste treatment solution, which the Group launched this year.
The extension order is worth $1.1m, with 25% upfront payment, which increases the total value of the contract to $3.6m. Delivery will commence later this year, with revenue recognised as the project advances, and is due to complete over the next six months.
The extension order is for the delivery of a stationary unit, to complement the mobile unit that is being delivered under the original contract, to enable the customer to deploy the solution for the safe disposal of mass poultry affected by disease and illness more quickly and more efficiently.
Poultry affected by disease and illness cannot be transported from their location and are disposed of on-site. BATM's agri-waste treatment solutions utilise the Group's proprietary medical sterilisation solution ("ISS") in the rendering process, allowing the safe treatment of animal remains to generate valuable protein and fat. The treatment process is completely eco-friendly with no hazardous materials or chemicals used and creates no odour.
This is the Group's third significant order for a stationary agri-waste treatment unit. The initial two contracts - for treating poultry and bovine remains - are both advancing well.
Dr. Zvi Marom, CEO of BATM, said: "We are very pleased to have received another order for our unique agri-waste treatment solution, which, in addition to its cost advantages and savings, provides a perfect ecological solution. This order strengthens our belief that as customers increasingly learn of the advantages of our products, they will adopt them as their preferred solution.
"With the increasing demand for our systems and the experience that we have gained since launch, we feel confident in soon marketing our agri-waste solution internationally, and we expect to receive more orders based on the ISS technology this year."
Enquiries:
BATM Advanced Communications |
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Dr Zvi Marom, Chief Executive Officer |
+972 9866 2525 |
Moti Nagar, Chief Financial Officer |
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finnCap |
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Stuart Andrews, Scott Mathieson |
+44 20 7220 0500 |
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Shore Capital |
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Mark Percy, Anita Ghanekar |
+44 20 7408 4050 |
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Luther Pendragon |
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Harry Chathli, Claire Norbury |
+44 20 7618 9100 |
