FoodTech is the new high tech in Israel. It’s no wonder that market adjustments and investment shifts are now taking place in the classic high-tech sector. Israel’s economy is in the process of restructuring.
The classic high-tech sector with a focus on cybertech and e-commerce will be replaced by FoodTech, MedTech, SpaceTech and quantum computing. So it is hardly surprising that some companies in the high-tech sector are losing their heads. So far they have been used to operating in comfort zones.
Also a reason why a small fraction – around 0.2% of the total 125,000 high-tech companies in Israel – of HighTech companies are taking to the streets, which looks more like begging for more subsidies. It seems absurd that a very small part of the high-tech sector is trying to prove its relevance on the street.
Be it as it may. Israel’s economy – albeit under globally difficult conditions; Conditions that are currently difficult for all states – is proving to be robust again.
IsraelFeedTheWorld – ADAMA
ADAMA from Tel Aviv is such a success story. ADAMA Ltd. is a global leader in crop protection, providing solutions to farmers across the world to combat weeds, insects and disease. For the full year of 2022, ADAMA is expecting to report a growth in sales of approximately 16% in USD terms (20% in RMB terms), compared to 2021.
The recent press release explains: “ADAMA, one of the world’s leading crop protection companies, announces the opening of a new multi-purpose plant (MPP) in Taquari, Brazil. The new plant produces key active ingredients (AIs) for the crop protection industry, including Prothioconazole, an important fungicide which protects Brazil’s soybean crops against Asian Soybean Rust.
This plant will improve ADAMA’s ability to supply Prothioconazole-based products using our in-house capabilities. This additional capacity will support the launch of several new products to the Brazilian market within the next five years.
This new MPP supplements ADAMA’s other Prothioconazole manufacturing facilities across the globe, positioning ADAMA as one of the top global producers and a leading supplier of this important molecule.
With this plant, ADAMA has the capacity to fully supply its global future pipeline of Prothioconazole-based products based on its in-house production. Production has already started to support ADAMA Brazil’s leading products such as ARMERO™.
Prothioconazole is a key active ingredient in the global fungicides market with estimated global sales of $1.2 billion. ADAMA’s new plant represents an investment of over $50 million, of which approximately 30% was spent on implementing sustainable practices as part of ADAMA’s ongoing commitment to improve sustainability in its production facilities.
This plant was built using advanced technologies that reduce energy and water consumption and limit waste generation. It also implements gas and particulate filtration systems that help avoid atmospheric pollution.