China Buys Israeli Smart Irrigation Tech Firm
Published on by Water Network Research, Official research team of The Water Network in Business
China's Yuanda Enterprise Group Announced It Had Bought the Israeli Company AutoAgronome Israel Ltd for $20 Million in Order to Expand Its Business to High-tech Agriculture
The Israeli company produces smart irrigation and fertilization systems that are successfully used with 70 different types of crops in 13 countries including the United Kingdom.
"The movement to new technology is huge. Every year, the area of drip irrigation system farming in China increases about 20 percent, which is more than all in Israel and Europe together. It's a huge market in China," said Nissim Daniely, the general manager of AutoAgronom in China Daily.
Scientists at the China Agricultural University in Beijing believe that smart-farming techniques are the key to China's food problems in a study released in early September. The acquisition of the Israeli smart irrigation tech company is significant in China's struggles with food security.
Founded in 1988, AutoAgronom is the only full automatic system in the world which applies water and fertilizers without human intervention according to the company's website. The system is based on more than 20 years of research and can reduce water consumption per acre from 500 tons to 150 tons, making it an affordable alternative for farmers.
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