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TORONTO, June 19, 2023 (GLOBE NEWSWIRE) -- 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.
For more information, please contact
| Ronnie Jaegermann | Dor Sneh |
| Director | Dor Sneh |
| T: +972-54-4202054 | T: +54-6512500 |
| E: ronnie@waterwt.com | E: dor@irri-altal.com |
https://www.water-ways-technologies.com/
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Forward-Looking Statements
Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to Water Ways. All statements other than statements of historical fact may be forward-looking information. Such statements reflect Water Ways' current views and intentions with respect to future events, and current information available to Water Ways, and are subject to certain risks, uncertainties and assumptions. Material factors or assumptions were applied in providing forward-looking information. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Should any factor affect Water Ways in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, Water Ways does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and Water Ways undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law. Water Ways' results and forward-looking information and calculations may be affected by fluctuations in exchange rates and its own share prices. All figures are in Canadian dollars unless otherwise indicated.
