Energy Technologies Ltd., which deals with artificial intelligence (AI) and provides innovative solutions to accelerate the processes of developing elite varieties in agricultural and animal crops, reports that the seed company, which sought to cancel the license agreement last month for growing and commercializing tomato varieties resistant to tuberculosis. Virus, has reached an understanding with Energy.Thus, the agreement between the parties remains in force and the seed company reiterates its request for cancellation.Ergin will supply the tomato seeds that contain the durability feature to the customer.
In addition, Energy will provide the seed company with the genetic markers developed on a dedicated PCR-based DNA testing kit that allows it to locate the tomato plants that contain the resistance traits. Accelerate and streamline the integration of resistant properties in the commercial tomato varieties of its customers.
Energy expects to enter into additional licensing agreements for the cultivation and commercialization of tomato seeds resistant to the strain of tuberculosis virus, after its distribution expanded significantly during 2021 and when the company estimates the farmers have no other available solution to prevent the damage.
Energy confirms its estimates that according to the market penetration rate and average royalty rate for the project period (10 years on average), the company’s revenue potential from commercialization of the Tomboma virus resistance is approximately $ 100 million throughout the project life, subject to successful completion of all phases and commercialization. His successful.
Energy CEO, Dr. Gil Ronen: “We are pleased to have reached an agreement with the customer and to execute the sale transaction. We have no doubt that we have a unique and important solution on an international scale for dealing with the Tubo virus that produces great value for customers. We continue to promote the development of the durability feature and commercialization of the licenses to realize the significant revenue potential of this project. “