BEIJING, Oct. 16, 2012 /PRNewswire/ -- Tri-Tech Holding, Inc. (Nasdaq: TRIT), which provides turn-key water resources management, water and wastewater treatment, industrial safety and pollution control solutions, announced today that it has signed a strategic partnership agreement (the "Agreement") with an Australian irrigation solution provider, Rubicon Global PTY Ltd. and its affiliate Rubicon Water System ( Tianjin) Co., Ltd (collectively referred as "Rubicon"), for initial term of three years.
According to the terms of the Agreement, Tri-Tech will be the exclusive distributor of Rubicon's Total Channel Control ("TCC") products, which target the open irrigation channel market in China. Focusing on the information-based infrastructure market in Chinese irrigation districts, Tri-Tech will undertake business development, marketing promotion, sales, project management and technical support for the TCC products. Rubicon will provide Tri-Tech with project support, product training and training for customers and potential customers for the whole set of TCC products.
TCC, an automatically-controlled irrigation system with networking communication, uses photovoltaic power to manage on demand water distribution with stable water volume flow. Compared with the traditional irrigation systems, the TCC system reduces water use and cost and offers a variety of functions, including indicating historic water levels, and identifying irrigation times. These features combine to increase productivity and reduce crop mortality caused by water logging.Rubicon's TCC system has been deployed in more than a dozen countries, including the United States, Canada and Australia. The TCC System played an important role in the 2,300 square mile Food Bowl Irrigation District in Victoria, Australia, helping increase irrigation efficiency from 70% to 84% where it was used. In 2009, the TCC system was utilized in Qingtongxia Irrigation District in Ningxia, Pishihang Irrigation District in Anhui Province and Fenhe River Irrigation District in Shanxi Province, in pilot projects lunched by China's Ministry of Agriculture. These pilot projects showed positive results in water conservation and use. Rubicon's CEO, Mr. Bruce Rodgerson, mentioned that Rubicon Global was very delighted to cooperate with Tri-Tech Holing to further develop the Chinese market. "We were impressed by the market insight and global vision of Tri-Tech in the water information sector in China. With Tri-Tech's ten years of experience in China, wide business coverage, well developed customer relationships, and mature sales and marketing networking, we expect our cooperation with Tri-Tech will position us well for all-around expansion in China. All of these factors led us to choose Tri-Tech as a strategic partner." Mr. Gavin Cheng, Joint CEO of Tri-Tech, said, "We are pleased to cooperate with Rubicon and look forward to distributing Rubicon's advanced water infrastructure products in China. "According to recent policies, the Chinese government will devote resources to developing existing middle- and large-scale irrigation districts, and renewing water-saving and pump station facilities. By 2015, China will equip the facilities and complete water-saving tasks for 190 large-sized irrigation districts and 800 middle-sized irrigation districts and begin water-efficiency retrofits in 1,500 middle-sized irrigation districts. By 2020, the upgrading projects will be generally completed in large-scale irrigation districts and key middle-scale irrigation districts. "Over the last year, Tri-Tech has conducted in-depth market research and studied the practical utilization of the TCC system. Given the Chinese government's support for information technologies in irrigation, water-efficiency irrigation projects and upgrading agricultural water infrastructure information systems, we believe that the application of TCC system in domestic irrigation districts has great potential to meet market needs.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV