The deal is worth an estimated NIS 5 million.
Israeli energy group Pazgas 1993 Ltd. is expanding its activity to other countries where it will focus on water technologies rather than its core business. The company’s subsidiary, WaterPath recently signed a contract worth an estimated NIS 5 million with Romanian gas company VitalGas for the marketing of the “HydroFlow” water purification system.
The technology works through WaterPath’s “Avenix” device, which is fitted onto water pipes and transmits a signal directly into the water. The device treats the water all the time, preventing the build-up of limescale on pipes and heating elements.
Pazgas launched WaterPath last year at an investment of $1 million. The HydroFlow technologywas developed in the UK by the Israeli Dr. Danny Stefanini, technical director of Hydropath UK, who worked together with WaterPath CTO Avigdor Paldi. The technology is marketed throughout the UK by BG Group (NYSE: BRG; LSE: BG). Pazgas has so far signed a series of agreements for the installation of the device in Israel in Israel in the central water systems at a number of kibbutzim across the country.
Published by Globes [online], Israel business news - www.globes.co.il - on December 12, 2006
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