-Innovative greenhouse covers save water, energy and exponentially improve profitability -Designed for sustainable farming in hot climates

Madrid, Spain, 2 October 2023: Armando Alvarez Goup and RedSea - a world leading sustainable AgTech - have signed an exclusive collaboration agreement for the production and supply of innovative greenhouse covers for hot climate farming.

The new heat absorbing greenhouse cover is designed for agriculture in areas with high temperatures and water shortages. Test results demonstrate exponential improvements in harvest, a significant reduction in irrigation and fertigation as well as less energy use.

Nearly 2 billion people live in hot, desert areas of the planet and depend on subsistence agriculture. Providing a solution that helps improve the sustainability of protected cultivation in these regions will help to sustainably feed a global population estimated to grow to 10 billion by 2050.

Red Sea's patented iyris® SecondSky® advanced nanotechnology solution reduces daytime temperatures in covered areas while allowing up to 80% of photoselective radiation to pass through. It will be incorporated into the 100% recyclable greenhouse and tunnel cover films manufactured by Grupo Armado Alvarez.

Developed by RedSea, and used in Armando Alvarez Group's production of greenhouse and tunnel covers, iyris® SecondSky® technology has already been successfully tested and proven under extreme heat climatic conditions in the Middle East, Southern Mediterranean and Arizona desert.

Simon Bryant, President, RedSea, said:
"This collaboration enables us to efficiently deploy RedSea's innovative heat blocking technology to increase profitability for growers and farmers in hot climates.

"By saving water and energy, plants and humans experience less heat and water stress - making both more productive and exponentially improving profitability."

JM Petrement, Group Agricultural Commercial Director, Armando Alvarez Group, added:

"Innovation and strategic partnerships help us address the unique challenges faced by farming communities in arid areas, while contributing to sustainable development and improved quality of life around the world."

"Our continued sales to over 98 countries and our experience in plastics converting since 1964 are undoubtedly factors that will guarantee the availability of this innovative plastic to a large number of farmers globally."

RedSea is a leader in AgriClimate Technology, specialized in providing solutions for controlled environment agriculture. Its "Roof to Roots" technology portfolio, developed by scientists and proven in the field by farmers and agronomists, saves water and energy, and increases farming yield.

Armando Alvarez Group (GAA) is the World's largest converter of agricultural plastics and a leader of the polyethylene film European industry, offering solutions for the packaging, agriculture and geosynthetics sectors. The Group is committed to innovation as a driver of sustainable growth and this collaboration is the result of the continuous search for solutions within the circular economy.

The collaboration between RedSea and the GAA corroborates the strong commitment of both companies to deliver sustainable solutions tailored to the agricultural sector, while contributing to the Sustainable Development Goals and global net-zero targets.

About Armando Alvarez Group:
The Armando Alvarez Group is a family owned company specialized in offering flexible solutions for the packaging, agriculture and geosynthetics sectors. The contribution of plastics to the modernization of agriculture, more than 60 years ago, has made the South of Spain the main supplier of vegetables to Europe. This success has been exported to more than 98 countries, making our Group a global benchmark in sustainable agriculture.

In 2023 the Armando Alvarez Group has been highlighted as an EXAMPLE of best practices in climate change and circular economy by the UN Global Compact, has been certified NEUTRAL in carbon (scope 1 and 2) and has also obtained the highest recognition, "EXCELLENCE", in the Spanish seal of Sustainable Plastics Industry.