Innovative Agriculture Irrigation Services Provider
This Water Ways Technologies profile is part of a paid investor education campaign.*
Water Ways Technologies (TSXV:WWT) is an agriculture technology company providing water irrigation solutions to small and medium-sized farmers and legal cannabis cultivators. The company is generating revenue through its turnkey projects and irrigation equipment sales. Water Ways currently generates 59 percent of its revenue through its turnkey projects and 39 percent through irrigation equipment sales.
The company also intends to roll-out a project financing service unit. The financing service unit will provide Water Ways Technologies with an additional revenue stream and client acquisition platform to expand its business.
As the world’s population grows, so does our need for food and agricultural products; however, globalization, pollution and drought are affecting our water supplies and crop production. To counteract this issue, Water Ways Technologies is developing a precise irrigation system that enables agricultural operators to make data-driven decisions on how and when to irrigate their crops. The system collects real-time data from sensors installed in the crop, which allows the client to analyze the data and control the system from their mobile device.
Water Ways Technologies has installed irrigation systems for various agricultural and aqua-cultural operations in China, Mexico, Ethiopia, Georgia, Laos and Peru. The company has also signed a US$500,000 agreement with Kibbutz Gan Shmuel and Cronos Group (NASDAQ:CRON,TSX:CRON) in Israel. The company is developing a customized crop irrigation system for a 43,055-square-foot greenhouse.
Water Ways Technologies recently finalized the acquisition of Heartnut Grove Inc., a Canadian distributor of irrigation and agricultural components based in Ontario. Water Ways plans to leverage Heartnut’s well-established business relationships with the Canadian farming community alongside its own Israeli technology-based irrigation components and equipment to capture a significant share of the Canadian wholesale irrigation market and meet the needs of Canadian cannabis licensed producers.
As part of Water Ways aggressive mission to expand its business plan into the global legal cannabis sector, the company has launched an internet of things (IoT) controlled irrigation and fertilization system for cannabis cultivators and growers known as CANNAWAYS. Developed in Israel by the company’s R&D team, the system is one of the first in the world designed for the specific needs of cannabis growers and cultivators. Cannabis cultivation site-tested and market ready, CANNAWAYS allows for higher yields and consistency for cannabis grows while reducing energy, water and fertilization costs.
Water Ways Technologies’ management team is comprised of experienced professionals with over 30 years of experience in the agriculture technology sector. The team has experience working in areas with infrastructure challenges and limited access to clean water.
Water Ways Technologies’ Company Highlights
- Global precision agriculture market to reach US$10.55 billion by 2025.
- Global irrigation water systems market to reach US$8.32 billion by 2022.
- 59 percent of revenue generated by turnkey projects and 39 percent from irrigation equipment sales.
- Relationships in place with Israeli irrigation corporations without exclusivity provisions.
- Recent acquisition of well-established Canadian distributor of irrigation and agriculture components positions company to capture market share in Canada’s agricultural and cannabis sectors.
- Providing underserved small to medium-sized farmers with irrigation systems and knowledge.
- July 2019 launch of CANNAWAYS, an IoT controlled irrigation and fertilization system for cannabis cultivators and growers.
- Clients across five continents.
- Initial expansion opportunities into Mexico, China, South America and the Balkans.
- Experienced management team with over 30 years of industry experience.
The Agriculture Technology Market
Irrigation is necessary for crop cultivation as it provides the water plants need to grow. Depending on the type of crop and its optimal growing conditions, the form of irrigation may need to adapt as well. The global irrigation water systems market is expected to reach US$8.32 billion by 2022, partially due to the rising demand for agriculture products and a rise in water shortages.
These issues have led to the emergence of a submarket for precision agriculture, which is expected to reach US$10.55 billion by 2025. Companies like Water Ways Technologies are using cutting-edge technology to help maximize crop yields and reduce operational costs. The company offers a wide range of hardware and software solutions along with a variety of services including farm equipment, maintenance, support and financial services.
Water Ways Technologies’ Business Model
Water Ways Technologies provides its irrigation technology and services through two revenue generating streams: turnkey projects and irrigation equipment. The company also intends to roll-out a project financing service unit to help expand its reach.
Water Ways Technologies provides end-to-end turnkey solutions for its clients. The company also sells its own irrigation equipment and hardware produced by third-party suppliers. The company is currently generating 59 percent of its revenue from its turnkey projects and 39 percent from the sale of irrigation equipment.
The company intends to scale its business globally and accelerate its growth through organic opportunities, technological innovation, geographical expansion and project financing. Water Ways Technologies will continue to form relationships with small and medium-sized farmers and fund projects. The company also intends to secure additional projects through financing or by lending equipment to farmers that don’t have the capital to commission projects.
Water Ways Technologies intends to open multiple sales offices around the globe to establish relationships in new markets. The company’s initial focus will be on Mexico, China, South America and the Balkans.
Precise Agriculture Technology
Water Ways Technologies services small and medium-sized farmers in emerging markets. Economic growth is driving the demand for agricultural products, however limited water access, pollution and drought are affecting development. By providing small farmers with the precise agriculture technology they need, Water Ways aims to convert infertile land into a more productive and profitable space for growers.
Water Ways Technologies is developing a precise irrigation system that enables agricultural operators to make data-driven decisions on how and when to irrigate their crops. The company has retained a third-party company to help them develop IoT solutions for the system which will help automate the time-consuming, costly and labor-intensive process associated with irrigation.
How it works
Water Ways Technologies installs sensors in various areas of its client’s irrigation system. The sensors then collect real-time data which is sent to a server. The server then processes and analyzes the data. Finally, the information is sent to the operator, who can remotely access the data on their mobile device or computer.
CANNAWAYS System for Cannabis Cultivation
The CANNAWAYS system is comprised of the following components:
- A hydroponic system of flooding benches to maximize the cannabis plant’s nutritional absorption together with full monitoring and control of the plant nutrition during the different growing stages.
- A fertilizing system composed of the following main components: raw fertilizer tanks and dosing pumps.
- Drainage, filtration, and water recycling systems.
- An IoT control gateway specially developed software to monitor and control various components of the cultivation project.
The CANNAWAYS system allows cannabis growers to control the whole cultivation process via adjustments to the following features:
- Irrigation, fertilizing and filtration system
- Climate system monitoring
- Structural systems (benches, darkening and thermal screens, curtains, heating, dehumidification, ventilation, fans, etc.)
The controller software can be installed on smart phones, PCs, and local controller touch screens to allow cultivation management staff to remotely view data in a local and remote cloud in order to track trends, symptoms and make adjustments when needed.
Water Ways Technologies’ Projects
Water Ways Technologies has designed, supplied and installed irrigation systems throughout the world. The company has various agricultural and aqua-cultural operations in China, Mexico, Ethiopia, Georgia, Laos, Peru and Uzbekistan.
Gan Shmuel and Cronos Group partnership
Water Ways Technologies has a US$500,000 agreement in place with the Kibbutz Gan Shmuel and Cronos Group joint venture in Israel. Water Ways Technologies is tasked with developing an advanced, customized crop irrigation system for a 43,055-square-foot greenhouse. The system will have an irrigation controller, climate controller and a central fertigation system.
Water Ways Technologies’ Management Team
Ohad Haber — CEO and Director
Ohad Haber has 30 years of experience in project management, sales and marketing in the agricultural industry. Prior to founding Irri-Al-Tal, he served as sales and operations manager of Latin America for Dan Sprinklers Ltd., an Israeli manufacturer of sprinklers and irrigation systems, which merged with NaanDan Irrigation Systems (C.S.) Ltd. in 2007 to form NaanDanJain Irrigation C.S. Ltd. Between 1992 and 1997, he served as the head of Israel sales and marketing for Metzerplas Ltd., an Israeli manufacturer of drip irrigation systems. Haber has extensive operational experience in the area of open field and vineyard farms irrigation.
Meira Zada — CFO
Meira Zada oversees Irri-Al-Tal’s finance team, including analytics, planning and accounting. She is a certified public accountant and has over 13 years of public accounting experience. Between January 2012 and January 2013, she served as the CFO of SuperCom Ltd. Between January 2004 and December 2010, she served as a financial controller at Elspec Ltd., a company listed on the TASE. Zada is an Israeli CPA and holds a BA in Accounting and Economics from the Ruppin Academic Center in Israel.
Amir Eylon — VP Operations and Projects
Amir Eylon has 30 years of experience in the areas of pressurized irrigation and agricultural products. He brings experience designing and managing the installation of turnkey irrigation projects located in developing regions and has developed a knowledge of market dynamics within the emerging markets as a result. Prior to joining Irri-Al-Tal in November 2005, he served as an operations manager of Metzerplas in South America. He holds a BA in Business Administration from the Ruppin Academic Center in Israel.
Tomer Bachar — CTO
Tomer Bachar is Irri-Al-Tal’s Chief Technology Officer and also supports the marketing department. Prior to joining Irri-Al Tal in July 2017, he held the position of Water System and Irrigation Engineer with Metzerplas, as well as in NaanDanJain designing irrigation and water supply systems for numerous projects. He has also managed several irrigation projects in eastern Ethiopia. Bachar has a BSc in Water and Agriculture Engineering from the Haifa Technion, Israel’s Institute of Technology.
Ronnie Jaegermann — Director
Ronnie Jaegermann has been the CEO and Head of Investment Banking Advisory at Aloni Haft, a Tel-Aviv-based boutique investment bank focused on fundraisings for Israeli companies in international capital markets, since 2014. He has led multiple businesses and helped them develop from a start-up into profitable companies that became take-out targets.
Between November 2012 and October 2013, Jaegermann was the CEO of JNH International Ltd., a company that manufactures, markets and sells Disney-licensed children furniture and toddler and junior Disney bed linen. He holds a BA in Economics and Political Science from Tel Aviv University. He is a mentor at the Keren Shemesh foundation, a non-profit organization assisting young entrepreneurs in establishing new businesses.
Yehuda Doron — Director
Yehuda Doron founded and assisted in running several businesses based in Israel in his capacity as an advisor. He is currently a Managing Director at Medton Hedim, a hearing aid retail and manufacturing company and a Chairman of Polymer G, a chemical company. Formerly, Doron served as a partner at Orr Community Ventures, a US$40 million fund providing equity capital to SMEs located in Israel’s most underdeveloped regions. He was also the CEO of various retail and manufacturing businesses. Between November 2004 and November 2010, he served as an independent non-executive director of Emilia Development (O.F.G) Ltd., an investment company listed on the TASE. He holds a BA in Business Administration and Economics from Tel-Aviv University.
James Lanther — Director
James Lanthier has been the CEO and a Director of Tangelo Games Corporation since September 2015. Between January 2015 and September 2015, he was the CEO of RAM Equity LP, an investment partnership focused on middle market media and technology investments. Prior to RAM, Lanthier was a member of the founding management team of Mood Media Corp. He was the COO of Mood between January 2008 and February 2013 and a non-executive Director of Mood between January 2013 and June 2016.
Prior to Mood, Lanthier co-founded FUN Technologies, a casual games business which he helped lead as CFO through its initial public offering on the TSX and London Stock Exchanges through its eventual sale to Liberty Media. He holds an MBA from the Rotman School of Management at the University of Toronto and a BA (Honours) from Queens University.
Adam K. Szweras — Secretary and Director
Adam Szweras is a securities law partner with Fogler, Rubinoff LLP in Toronto and Chairman of FMI, a Toronto-based merchant bank and brokerage firm. His law practice focuses on financings and going public transactions, and in his banking practice, he works closely to build, invest in and develop emerging business. He represents and sits on the boards of several mid-market public companies and assists companies in listing on the TSX, TSXV and CSE. He has particular expertise with cross border mid-market transactions and often acts as a strategic advisor to his clients.
Szweras works with public and private companies in energy transmission, oil and gas, alternative energy, technology and food production. He has experience in representing clients in Canada, the US, South America, China and South Asia. He joined Fogler, Rubinoff LLP and founded the Foundation Markets Group in 2006. He was called to the Ontario Bar in 1996 and has authored numerous papers and articles relating to Canadian and foreign securities and corporate law.
*Disclaimer: This profile is sponsored by Water Ways Technologies (TSXV:WWT). This profile provides information which was sourced by the Investing News Network (INN) and approved by Water Ways Technologies, in order to help investors learn more about the company. Water Ways Technologies is a client of INN. The company’s campaign fees pay for INN to create and update this profile.
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