OrganiTECH USA, Inc. (OTC Bulletin Board: ORGT) announced today two new company developments. First, the company received its 30% funding advance of $126,000 from the Singapore-Israel Industrial Research and Development Foundation ("SIIRDF") for purposes of further developing and operating an existing pilot farm that is testing the commercial feasibility of OrganiTECH's GrowTECH 2000 solution. OrganiTECH Ltd. and Agronaut Agricultural Services have partnership for establishing and operating a GrowTECH 2000 beta site farm in Singapore, and applied for R & D funding from the SIIRDF to partially finance the beta site project.
The company also announced today that it has filed an application with the Chief Scientist Office of the Israel Ministry of Commerce and Trade for partially financing the development of a new breeding and cultivation platform specifically designed for a new variety of miniature tomatoes.
Over the last several years, Professor Avraham Albert Levy of the Weizmann Institute of Science has been researching and developing a new breed of miniature tomato for the consumer market. With breeding development near completion, a platform is now required for rapid production of the miniature tomato seeds.
Under the proposed project labeled Magneton, OrganiTECH will endeavor to develop a new automated platform specially designed for optimizing the cultivation, particularly the breeding and seed production processes, of this new variety of miniature tomatoes. The company intends to utilize its patented technologies, those integrated in the GrowTECH 2000, to develop such a fully automated solution.
OrganiTECH USA, Inc., through its wholly-owned Israel based subsidiary, OrganiTECH Ltd., is an applied engineering solutions company that is developing technologies designed to cost effectively and completely automate the method by which various foods, plants, and extracts are cultivated.
Published by Israel's Business Arena on 20 December 2001