Toronto, Ontario--(Newsfile Corp. - November 1, 2023) - Deveron Corp. (TSXV: FARM) ("Deveron" or the "Company"), a leading agriculture service and data company in North America, is pleased to announce that A&L Canada Laboratories Inc., a subsidiary of Deveron Corp., has launched a new testing service analyzing Per- and Polyfluoroalkyl Substances ("PFAS") in soil, water, compost and other matrices. PFAS are a group of synthetic chemicals that have gained significant attention due to their widespread use and potential environmental and health concerns.
PFAS have been used in a wide range of industrial and consumer products due to their unique properties, including oil and water repellency, resistance to heat, and low surface tension. Common uses include non-stick cookware (e.g., Teflon), water-repellent outdoor gear, food packaging (e.g., fast-food wrappers), and firefighting foam. One of the most significant concerns with PFAS is their persistence in the environment. These chemicals do not easily break down, and they can accumulate in soil, water, and living organisms over time. Some notable States where PFAS testing and regulation have begun include Michigan, New Jersey, North Carolina, Minnesota, New York, Vermont, California, Maine & New Hampshire.
The Company has been working with a number of pilot customers for whom PFAS is mission critical in their downstream customer deliverables. Our experience in engineering services, water testing, compost and agriculture soils suggest a potential market opportunity for testing. Currently, PFAS and other environmental contaminants testing faces a bottleneck, with long lead times for results limiting the volume of testing. Deveron believes it can significantly improve result turnaround times for customers while still ensuring compliance with North American testing standards.
"PFAS appears to pose substantial threats to the health and wellness of our society," said David MacMillan, President and CEO of Deveron Corp. "Due to these growing health concerns, governments are beginning to take steps to phase out these compounds and establish guidelines for acceptable levels in drinking water and soil. We see a growing demand for testing given the prevalence of PFAS and further regulation. With our extensive lab network, we believe we can be a leader in North America by focusing on delivering high-quality results with industry leading turn-around times."
About Deveron: Deveron is an agriculture technology company that uses data and insights to help farmers and large agriculture enterprises increase yields, reduce costs, and improve farm outcomes. The Company employs a digital process that leverages data collected on farms across North America to drive unbiased interpretation of production decisions, ultimately recommending how to optimize input use. Our team of agronomists and data scientists build products that recommend ways to manage fertilizer, seed, fungicide and other farm inputs better. Additionally, we have a national network of data technicians that are deployed to collect various types of farm data, from soil to drone, that build a basis of our best-in-class data layers. Our focus is the US and Canada where 1 billion acres are actively farmed annually.
For more information and to join our community, please visit www.deveron.com/investors or reach us on Twitter @Deveron.
Phil Linton
VP Corporate Development
Deveron Corp.
Plinton@deveron.com
Tel: 647-622-0076
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This news release includes certain "forward-looking statements" within the meaning of that phrase under Canadian securities laws. Without limitation, statements regarding future plans and objectives of the Company are forward-looking statements that involve various degrees of risk. Forward-looking statements reflect management's current views with respect to possible future events and conditions and, by their nature, are based on management's beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in such forward-looking statements are reasonable, such statements are not guarantees of future performance and actual results or developments may differ materially from those in our forward-looking statements. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world-wide price of agricultural commodities, general market conditions, risks inherent in agriculture, the uncertainty of future profitability and the uncertainty of access to additional capital. Additional information regarding the material factors and assumptions that were applied in making these forward-looking statements as well as the various risks and uncertainties we face are described in greater detail in the "Risk Factors" section of our annual and interim Management's Discussion and Analysis of our financial results and other continuous disclosure documents and financial statements we file with the Canadian securities regulatory authorities which are available at www.sedarplus.ca. The Company undertakes no obligation to update this forward-looking information except as required by applicable law. The Company relies on litigation protection for forward-looking statements.
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