Just as TAcount Ltd. is set to complete its incubator period at Kinrot Technology Ventures, Hutchison Water International Holdings Pte. Ltd., a subsidiary of Hong Kong-based Hutchison Whampoa Ltd. (HKSE: 0018), is investing $600,000 in the company to consolidate the development of its propriety technology for identifying and counting microorganisms in water.
The company, headed by CEO Isak Duenyas, has developed a technique for detecting micro-organisms in fluids within minutes, instead of the two to three days taken by current techniques. The method is designed for use in a variety of fields, but mainly in the food, beverages, and pharmaceuticals industries.
Under the agreement between the two companies, subject to certain conditions, Hutchison Water will later invest a further $2 million in TACount.
Duenyas said, "Manufacturers will be able to ensure the quality of their products and thus also extend their shelf lives. The stock of products will be reduced, and profitability will rise."
Published by Globes [online], Israel business news - www.globes-online.com - on January 27, 2011
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