TEL AVIV, Israel, July 6, 2015 /PRNewswire/ --
ICL (NYSE and TASE: ICL), a global manufacturer of products that fulfill essential needs in the agriculture, processed food and engineered materials markets, today announced that its ICL Haifa subsidiary ("signed a license agreement with MIGAL Galilee Research Institute ("MIGAL") for the use of proprietary technology related to wastewater treatment.
Under the terms of the agreement ICL HAIFA will have the right to develop, manufacture and sell reagents developed by MIGAL to treat wastewater. The agreement between the parties follows the successful completion of a year-long pilot program conducted by MIGAL in conjunction with ICL's open innovation arm, ICL Innovation Ltd., to develop a method and unique component to help lower pollution levels of wastewater so that the water may be reused for irrigation. The technology will be deployed in agricultural products manufactured by ICL HAIFA for its existing and future customers.
MIGAL is an internationally recognized center for agro-innovation and metabolic engineering with expertise in plant-based platforms, wastewater treatment technologies, as well as clinical nutrition, precision agriculture, therapeutic molecules, chemical extractions, vaccine technologies and computational chemistry. MIGAL conducts interdisciplinary applied research that combines expertise in agro-technology, computer science and big data analysis, metabolic engineering, environmental and plant sciences, chemistry, biochemistry and microbiology.
ICL Innovation was established in 2014 to accelerate ICL's development of sustainable new products and processes, as well as to provide solutions for major global challenges, by benefiting from the full range of knowledge, creativity and initiative available throughout the world. By embracing the Open Innovation approach, ICL harnesses the power of collaboration with scientists/entrepreneurs worldwide to accelerate the company's growth. ICL's Open Innovation "Accelerator" augments the company's R&D organization which includes approximately 500 employees who work at IMI/TAMI Research Institute located in Haifa, Israel, and its other R&D facilities elsewhere in Israel as well as in in Germany, Holland and the US. To date, ICL Innovation has received over 500 submissions for collaboration from which it is currently working on 10 projects.
ICL is a global manufacturer of products based on specialty minerals that fulfill humanity's essential needs primarily in three markets: agriculture, food and engineered materials. The agricultural products that ICL produces help to feed the world's growing population. The potash and phosphates that it mines and manufactures are used as ingredients in fertilizers and serve as an essential component in the pharmaceutical and food additives industries. The food additives that ICL produces enable people to have greater access to more varied and higher quality food. ICL's water treatment products supply clean water to millions of people, as well as to industry around the world. Other substances, based on bromine and phosphates help to create energy that is more efficient and environmentally friendly, prevent the spread of forest fires and allow the safe and widespread use of a variety of products and materials.
ICL benefits from a broad presence throughout the world and proximity to large markets, including in emerging regions. ICL operates within a strategic framework of sustainability that includes a commitment to the environment, support of communities in which ICL's manufacturing operations are located and where its employees live, and a commitment to all its employees, customers, suppliers and other stakeholders.
ICL is a public company whose shares are dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs approximately 12,500 people worldwide, and its sales in 2014 totaled US$6.1 billion. For more information, visit the company's website at http://www.icl-group.com
Located in a unique countryside area thirty minutes from the Sea of Galilee, MIGAL, supported by Israel Ministry of Science, Technology and Space is internationally recognized as a hub of agro-innovation and metabolic engineering. Our scientists hold unique expertise in plant-based platforms to produce therapeutic molecules, chemical extractions, vaccines technologies, wastewater treatment technologies, environmental science and computational chemistry.
MIGAL serves as a home for a special R&D unit of about 50 agro-researchers and technicians working in 10 experimental farms at various topographies and climates. This agro R&D unit known as "Northern R&D" enables us to execute research programs that go all the way from the bench to the field.
Forward Looking Statement
This press release contains forward-looking assessments and judgments regarding macro-economic conditions and the Group's markets, and there is no certainty as to whether, when and/or at what rate these projections will materialize. Management's projections are likely to change in light of market fluctuations, especially in ICL's manufacturing locations and target markets. In addition, ICL is likely to be affected by changes in the demand and price environment for its products as well as the cost of shipping and energy, whether caused by actions of governments, manufacturers or consumers. ICL can also be affected by changes in the capital markets, including fluctuations in currency exchange rates, credit availability, interest rates, etc.