Starcom (AIM:STAR), which specialises in the development of wireless solutions for the remote tracking, monitoring and protection of a variety of assets and people, is pleased to announce that an agreement has been reached with CropX Ltd (“CropX”) for the supply of a number of units based on the technology of Kylos Air with agreed modifications to suit the needs of CropX.
The agreement provides for an initial order to be delivered by January 2018 and, subject to satisfactory performance, further orders are expected to be placed between April and August 2018. The aggregate potential order value of the agreement is bound by commercial confidentiality but would be significant in relation to historic revenues for 2017. An initial payment on account of a development service fee (which includes the cost of the initial order) has been received by the Company.
CropX is an Israeli company which is now a world leader in the provision of its devices to farmers enabling them accurately to measure the irrigation needs, in real time, of their crops through the deployment of sensors in their fields.
The agreement reached between the two companies follows a long period of joint development and demonstrates the flexibility of Starcom‘s technology to adapt to many different uses.
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