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ICL Invests in CropX, Makes First Investment in Precision Ag
The investment follows the company’s strategic decision to develop advanced solutions for the agricultural space
Tel Aviv, Israel, May 02, 2018 — ICL (NYSE & TASE: ICL), a leading global specialty minerals and specialty chemicals company, today announced an investment and a strategic partnership with CropX – its first collaboration with Israel’s startup community in the field of precision agriculture. This investment follows the company’s strategic decision to invest and develop advanced solutions for the agricultural space.
CropX offers farmers a powerful combination of advanced soil sensor technology and cloud-based Ag analytics that integrates with top irrigation systems—helping farmers increase crop yield and reduce water, fertilization and energy costs - all in an easy to use mobile app.
Eli Amon, Executive VP, Head of ICL Specialty Fertilizers’ stated: “CropX offers farmers a unique product and technology, which will provide a significant added value to our product portfolio in the fertilizers field – and to our clients. CropX’s capabilities and its direct interface with farmers are well-suited to ICL’s new strategy, asit will help promote premium,technology-based products, which offer the most focused and precise nutrition solutions to farmers”.
CropX CEO Tomer Tzach : “Working with ICL gives us an opportunity to further advance our nutrient sensing abilities as we strive to deliver the world’s most comprehensive, yet easy to use, soil intelligence platform. We look forward to tapping ICL’s expertise to help us expand both our soil sensor capabilities and our global footprint.”
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. ICL shares are dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs approximately 12,600 people worldwide, and its sales in 2017 totaled US$5.4 billion. For more information, visit the company's website at www.icl-group.com.