Test and Measurement Innovators Focused on Key Growth Markets
Xenemetrix, winner of the Frost & Sullivan awards - 2010 and 2015
Strong Balance Sheet and Partners
Innovators in Taking the Laboratory to the Field
Eurocontrol's Xenemetrix Announces MOU With Netafim for Entry Into the Precision Agriculture Industry
TORONTO, ONTARIO--(Marketwired - March 28, 2016) - Eurocontrol Technics Group Inc. (TSX VENTURE:EUO) ("Eurocontrol" or the "Company"), a Canadian public company specializing in the acquisition, development and commercialization of innovative authentication, verification and certification technologies, is pleased to announce that its subsidiary, Xenemetrix Ltd.
("Xenemetrix"), has entered into a Memorandum of Understanding ("MOU") with Netafim, an Israeli company that is the global leader in drip and micro-irrigation solutions for sustainable agricultural productivity, to develop a unique and innovative testing system utilizing Xenemetrix's Energy Dispersive X-Ray Fluorescence (ED-XRF) technology for farmers and the greater farming community.
The solution that will be developed through the collaboration between Netafim and Xenemetrix will be offered as a unique and innovative service to Netafim's farming client base for performing immediate tests of crops, soil and water in the field to replace the traditional method of sending samples to laboratories and waiting days for results. Xenemetrix will leverage its ED-XRF-based spectroscopy expertise to develop a dedicated mobile and compact system for performing at-site (in-field) testing and analysis of material elements, primarily N, P and K (Nitrogen, Phosphorous and Potassium) in the soil, water and critical parts of the crops, at set intervals. Netafim will contribute its extensive market presence and expertise to secure cooperation of prospective clients to assist with defining specifications and laboratory verification of Xenemetrix prototypes.
The MOU also provides for an exclusivity term of two years for the initial commercialization phase to ensure the rapid time-to-market and launch of a mature solution that will boost revenue and reduce expenses for the farmer. A critical value add is the risk avoidance that will be achieved by this highly accelerated testing process that will result in increased sustainability through improved yields and a decrease in waste. The Xenemetrix system will also allow for the collection of measured data and GPS coordinates that will be fed into a cloud-based repository that over time will form a big-data base that can be offered as a service to agro-companies and organizations to deal with the increasing food demand of the world's growing population and will enable insights into patterns and trends on as wide a geography as required.
Bruce Rowlands, Chief Executive Officer of Eurocontrol stated, "Precision agriculture is an area we have long seen as a perfect fit for our ED-XRF mobile technology. We are thrilled to be collaborating with Netafim, a world leader in farming innovation, in the development of a mobile testing solution for farmers worldwide in this developing market that is estimated to grow to $2.4 billion a year by 2020*."
Dr. Yoav Zeif, Vice President, Americas of Netafim added, "Netafim is seeking to give its clients innovative and holistic solutions. Doing the right analysis will ensure the efficient and economical input application. We believe in our moto, 'Grow more with less'."
* Based on a market study undertaken by Markets and Markets. Markets and Markets is the second-largest market research firm worldwide providing over 1,200 premium studies yearly to over 1,700 Fortune organizations globally,
Netafim is the global leader in drip and micro-irrigation solutions for sustainable productivity. With 28 subsidiaries, 16 manufacturing plants and over 4,000 employees worldwide, Netafim delivers innovative solutions to more than 110 countries across the globe. Founded in 1965, Netafim pioneered the drip revolution, creating a paradigm shift toward low-flow agricultural irrigation. Today Netafim is celebrating 50 Years of Shaping the Future, offering diverse irrigation solutions for agriculture, landscaping and mining. For large-scale and turnkey sugarcane, corn and greenhouse projects, Netafim delivers end-to-end engineering, project management and financing services accompanied by agronomic, technical and operational training and support. From drippers and dripperlines, through sprinklers and micro-emitters, to crop management technology (CMT) systems, Netafim's market-leading solutions enable cost-effective irrigation for optimal and sustainable results.
About Xenemetrix Ltd.
Xenemetrix is a leading designer, manufacturer and marketer of energy-dispersive x-ray fluorescence (ED-XRF) systems and components. Located in Israel and with over 30 years experience, Xenemetrix holds a number of certifications and is the recipient of Frost & Sullivan Best Practices Awards in 2015 and 2010 for Global Analytical X-Ray Instrumentation Price Performance Value Leadership and Global ED-XRF Analyzers Product Line Strategy of the Year, respectively. Xenemetrix continues to develop highly innovative technologies and solutions suitable for today's ever-growing analytical challenges, performing non-destructive elemental analysis starting from Carbon (6) through Fermium (100), while providing detection limits from low parts-per-billion (ppb) to high weight percent (%wt). ED-XRF spectroscopy is one of the simplest, most accurate and economical analytical methods for the determination of the chemical composition of many types of materials. Xenemetrix combines the latest technological developments with innovative engineering, to provide cost-effective solutions to a wide range of industries including the petroleum, mining, marine, manufacturing, food and beverage, cosmetic and pharmaceutical industries to outline a few. Xenemetrix's emphasis on quality combined with ongoing research and development has earned Xenemetrix an international reputation for excellence. For further information on Xenemetrix, visit www.xenemetrix.com.
About Eurocontrol Technics Group Inc.
Eurocontrol is a TSX Venture listed company that specializes in the acquisition, development and commercialization of innovative authentication, verification and certification technologies. Eurocontrol has two wholly owned subsidiaries, Xenemetrix Ltd. and XwinSys Technology Development Ltd. Xenemetrix is a leading designer, manufacturer and marketer of ED-XRF systems, a technology that is the most accurate and economic method for determining the chemical composition of many types of materials, including the analysis of petroleum oils and fuel. Xenemetrix has an exclusive long-term supply, maintenance and support agreement with SICPA/GFI to supply SICPA/GFI with Xenemetrix products and services related to the oil and gas marking and monitoring field. XwinSys is in the final stage of developing a fully automated metrology system for the semiconductor industry that combines 2D and 3D image processing technology with Xenemetrix's ED-XRF technology.
For further information on Eurocontrol, please visit the Company's website at www.eurocontrol.ca.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.