VICTORIA, BRITISH COLUMBIA--(Marketwired - June 11, 2013) - E. S. I. Environmental Sensors Inc. ("ESI" or the "Company")(TSX VENTURE:ESV) is pleased to announce the signing of a Distribution Agreement with Beijing Yanyu Water Technology Company Ltd. ("BJYY" or "Yanyu"), a subsidiary of Tri-Tech Holding Inc. ("Tri-tech") (Nasdaq: "TRIT"). With operations in China, the U.S. and India, Tri-tech provides turn-key water resources management, water and wastewater treatment, water-efficient irrigation, and industrial emission and safety control solutions, with fiscal 2012 sales of $72.6M.
ESI and BJYY/Tri-tech held initial meetings over a year and a half ago. Since that time the parties have worked together toward, firstly, the testing and national acceptance of ESI's sensing technology for the Chinese market, and, secondly, an agreement on an exclusive partnership for China. The process has involved the development by ESI of a customized version of the Company's TDT (time domain transmissiometry) soil moisture sensors in order to meet physical measurement parameters specified by Chinese Government ministries. ESI has supported efforts by BJYY for their in-house testing of the sensor as well as testing of the sensor by Chinese government ministry scientists. Through these various tests, this customized version of ESI's GroPoint(R) Lite Profiling Probe has been selected by BJYY/Tri-tech as their preferred product and ESI as their premier supplier for the Chinese market.
This tremendous investment in effort, patience and resources by both parties over the past twenty months has finally paid off: ESI's Board and management are extremely pleased to announce this long-term partnership and supply agreement with BJYY/Tri-tech. It represents a reliable and sizeable product distribution through a key market player and lead customer - a supply and sales partnership for one of the most important and significant markets in the world.
Under the terms of the Distribution Agreement, significant minimum purchase requirements allow for a steady and reliable production and sales volumes over an initial minimum period of three years. ESI and BJYY/Tri-tech will continue to develop and grow their partnership by expanding product range and market reach throughout this period and beyond.
"This agreement with BJYY/Tri-tech resembles exactly what ESI has been aiming at with its relentless efforts to develop the most competitive technological product excellence: solid, long-term, high-volume supply partnerships with selected key players in the most promising volume markets of the world. We will continue along these lines and grow ESI into truly global product presence, in this application area and beyond. The Board is extremely pleased with this milestone success on behalf of all of ESI's stakeholders, and is fully committed to help translate this significant sign of ESI's technological leadership into sustainable growth and financial success for the Company", said Stephan Radermacher, Chairman of the Board of ESI and Executive Director/COO of Avis Financial Corporation, ESI's majority shareholder.
"Introducing new and high-tech products into the Chinese hydrological industry is one of Yanyu's development directions. During our research of technology suited to this market, we were very lucky to identify ESI as a potential business partner. After detailed communication and solid efforts by both sides, we are very excited that we can now develop a long-term, prosperous, and cooperative relationship. We are looking forward to learning more from each other and to creating more and more areas of cooperation between our companies," said Hongzhi Ma, CEO of Beijing Yanyu Water-Tech Co., Ltd.
Tri-Tech is an innovative provider of consulting, engineering, procurement, construction and technical services. The Company supports government, state-owned entities and commercial clients by providing water and wastewater treatment, water resource management, water-efficient irrigation, and industrial emission and safety control solutions. With intellectual properties and capable employees in China, the U.S. and India, Tri-Tech's capabilities span the cycle of innovation from development through implementation and operation. The Company operates in three segments: (i) Water, Wastewater Treatment and Municipal Infrastructure ("WWTM"), (ii) Water Resource Management System and Engineering Services ("WRME"), and (iii) Industrial Pollution Control and Safety ("IPCS").
ESI is a leading manufacturer of patented and proprietary solutions for environments where understanding the presence, movement, and/or amount of water are important. Major market sectors include: Agriculture, Golf and Turf, Scientific Research, Civil Engineering and Crude Oil. ESI solutions have been successfully introduced into more than 40 countries to enable customers to optimize their operations by monitoring the presence and movement of water, managing irrigation systems, and monitoring the integrity of landfill covers. Most recently, the Flo.Point(TM) instrument has been introduced to the Oil industry to measure the volumetric presence of water pumped during crude oil extraction for characterization and optimization of the process. ESI differentiates itself by translating the best technology and science available into practical, easy to use solutions. Irrigation managers, Reservoir Engineers, and Scientists have adopted ESI's products for their accuracy, ease of use, repeatability, and ability to operate in challenging environments. ESI is publicly traded on the TSX Venture Exchange under the symbol "ESV". Further information about ESI may be obtained through the Company's website at www.esisensors.com