June 19, 2023 – Toronto, Ontario – Water Ways Technologies Inc. (TSXV: WWT) (FRA: WWT) (“Water Ways” or the “Company“), a global provider of Israeli-based agricultural technology, providing water irrigation solutions to agricultural producers, is pleased to announce that its Canadian subsidiary, Heartnut Grove WWT Inc. (“HGWWT“) has entered into a distribution agreement (the “Agreement“) with Agroscout Ltd. (“Agroscout“), an Israeli Agri-tech firm that has created an agricultural intelligence system based on AI analytics of high-resolution images from farmers’ fields.
According to the terms of the Agreement, HGWWT will offer Canadian farmers a SAAS (Software As A Service)-based platform that provides, using AI analytics, drone and satellite technologies, a wide range of agronomy insights that oversee the entire growing cycle of a crop, including pre-sowing conditions, weeds, plant stand assessment, fertilization and irrigation disorders, pest and disease pressure, and harvest readiness. The Agreement between the parties is for a two-year period and provides certain discounts on Agroscout price list.
Ohad Haber, Chairman and Chief Executive Officer, commented: “The agreement with Agroscout enables Water Ways to be a leader in precision agriculture in Canada, the combination of our smart irrigation and fertigation systems with Agroscout SAAS-based data services will allow our Canadian clients to dramatically improve the efficiency of their crops and save financial costs while improving yields and production. This is the first time we will offer a subscription service model, which will provide our Canadian subsidiary with recurring revenues”.
About Water Ways Technologies
Water Ways Technologies Inc., through its subsidiaries, is a global provider of Israeli-based agriculture technology, providing water irrigation solutions to agricultural producers. Water Ways Technologies competes in the global irrigation water systems market with a focus on developing solutions with commercial applications in the micro and precision irrigation segments of the overall market. At present, Water Ways Technologies’ main revenue streams are derived from the following business units: (i) Projects Business Unit; and (ii) Component and Equipment Sales Unit. Water Ways Technologies is capitalizing on the opportunities presented by micro and smart irrigation, while also making a positive mark on society by making these technologies more widely available, especially in developing markets such as Africa and Latin America and developed markets such as China and Canada. Water Ways Technologies irrigation projects include vineyards, Cotton fields, Apple and Orange orchards, Blueberry, Medical Cannabis growers, fresh produce cooling rooms and more, in over fifteen countries.
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