22:05:18 EDT Fri 26 Apr 2024
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Eurocontrol Technics Group Inc
Symbol EUO
Shares Issued 90,750,238
Close 2018-01-22 C$ 0.08
Market Cap C$ 7,260,019
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Eurocontrol subsidiary receives Israeli endorsement

2018-01-22 09:05 ET - News Release

Mr. Bruce Rowlands reports

EUROCONTROL'S CROPTIMAL RECEIVES ISRAELI GOVERNMENT ENDORSEMENT

Eurocontrol Technics Group Inc. subsidiary Croptimal has received an endorsement from the Centre for Desert Agriculture, an Israeli government institution involved in research and development for agriculture in the Negev Highlands, southern Israel. This endorsement of Croptimal's disruptive precision agriculture testing technology provides encouragement and a 20-per-cent financial subsidy for farmers in southern Israel to utilize Croptimal's technology as it believes that precise and efficient fertilization will result in an optimization of crop growth and profitability. Croptimal's technology came to the attention of the Centre for Desert Agriculture at Moshav Kadesh Barnea where Croptimal is optimizing the growing process of tomatoes.

Bruce Rowlands, chairman and chief executive officer, commented: "This unprecedented endorsement of Croptimal's technology is very exciting for us and is also an endorsement of the Israeli spirit of innovation. The Centre for Desert Agriculture recognizes our technology as a breakthrough in agricultural testing to increase crop yield and farm profitability. Their encouragement to farmers to utilize Croptimal's technology and their financial commitment to incentivize local farmers will significantly increase Croptimal's exposure. This endorsement along with Croptimal's nomination as one of 10 innovations that have been nominated for the prestigious 2018 Fruit Logistica Innovation Award both provide strong affirmation of our technology."

About Croptimal Ltd.

Croptimal is a private Israeli company formed in early 2017 and is 100 per cent owned by Eurocontrol. Croptimal's service was developed following the need and demand of farmers and agronomists to increase crop yields, both quality and quantity, to meet the rapidly increasing world population. Croptimal offers a suite of in-field decision support tools to agronomists and farmers based on an innovative system of big database analysis (machine learning) utilizing unique hardware and software that enables continuous measurement of nutrients in soil, water and plant tissue. Croptimal's technology offers a comprehensive and accurate service that encompasses a full range of in-field measurement activities, including collecting and automatically preparing samples and inputting them to the measurement systems, collecting environmental data using real-time systems installed in the field, conducting the measurements and transferring the measurement results to the farmer and ultimately providing fertilizer recommendations to the farmer or accompanying agronomist.

About Eurocontrol Technics Group Inc.

Eurocontrol is a TSX Venture-Exchange-and-OTCQB-traded company that specializes in the acquisition, development and commercialization of innovative test and measurement technologies for industry with application technologies focused on the energy security, semiconductor and precision farming sectors based on Xenemetrix's core technological platform of ED-XRF. Eurocontrol has three wholly owned subsidiaries, Xenemetrix, XwinSys Technology Development and Croptimal, and an agreement with SICPA for semi-annual earnout payments of 5 per cent (minimum $9-million over six years) on revenues generated from the oil and gas marking and monitoring field relating to the sale of its former subsidiary Global Fluids International (GFI).

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