Deveron UAS Corp. Signs $3.8 Million Multi-Year Agreement with A & L Canada Laboratories Inc
January 29, 2019 at 07:01 am EST
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Deveron UAS Corp. ('Deveron' or the 'Company') announced it has entered into a service agreement with A & L Canada Laboratories Inc. ('A & L') in which A & L will engage Deveron to administer, manage and execute A & L's soil sampling collection business. The initial term of the agreement is for 5 years and has an anticipated value of $3.8 million over the term of the agreement. Pursuant to this agreement, A&L will outsource the physical collection of soil samples to Deveron. Deveron's personnel will collect samples as part of a larger portfolio of services offered to farmers in regions across North America. Since A&L is transferring current and existing collection activity to Deveron, the revenue impact for Deveron will be immediate and begin with the 2019 crop season. This agreement marks the launch of another data acquisition product, soil sampling, that will continue to provide the agriculture industry with a scalable solution to acquiring data on the farm as digitization continues to become a necessary investment for farmers. The service agreement with A & L immediately increases the Company's access to paid-acres under management while expanding the portfolio of products available to Deveron's customers.
Deveron Corp. is an agriculture technology company. The Companyâs operating segment include data acquisition services and data analytics sector in Canada and in the United State of America. It uses data and insights to help farmers and large agriculture enterprises increase yields, reduce costs and improve farm outcomes. It provides full service from collection to soil and analysis. The Company provides a range of services, including field services, laboratory services, and agronomic insights. Its filed services include soil fertility sampling, soil mapping, agriculture drone services, and field boundary mapping. The Companyâs SoilOptix is a premium topsoil analysis system that sets the standard for accuracy and precision in agriculture. Its laboratory services include soil testing and analysis, plant tissue testing, and soil health. Its agronomic insights include soil insights, script insights, image insights, trial analysis, and profit mapping.