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- AgTech Digest: Orchard Robotics' Funding, Senken Biochar Deal, Cox Enterprises Launches Cox Farms, Texas Crop Science Breakthrough & More!
AgTech Digest: Orchard Robotics' Funding, Senken Biochar Deal, Cox Enterprises Launches Cox Farms, Texas Crop Science Breakthrough & More!
Discover the latest developments in the world of AgTech this week!
Key Takeaways
Orchard Robotics Secures $3.8M: Advancing precision agriculture with AI-driven technology for improved crop management.
Texas Crop Science Innovates Soybean Production: Introduces a yield trait enhancing production by 21%, promising global agricultural impact.
One Equity Partners and CBM Collaboration: Strategic investment to foster growth and innovation in tractor attachment manufacturing.
Major Biochar Agreement by Senken and Exomad Green: A significant step towards carbon sequestration and sustainable agriculture in Bolivia.
ADAMA Announces Executive Changes and Financials: Aiming for innovation amid challenging market conditions, with a strategic focus on a people-first culture.
Intelinair Achieves SOC 2 Compliance: Boosting data security and operational integrity in agricultural insights.
Fieldwork Robotics Gains Government Grant: To advance AgriTech robotics in berry harvesting with AI and autonomous capabilities.
Pyka Moves to Alameda: Expanding operations for electric aircraft development in a hub of green technology.
Solar and Agriculture Integration Initiatives: Sol Systems and American Farmland Trust promote 'Smart Solar' projects for sustainable land use.
Lightstar Renewables’ Agrivoltaics Solar Project: A pioneering effort in Illinois integrating solar energy with agricultural production.
Cox Enterprises Ventures into Sustainable Agriculture: Cox Farms to focus on indoor farming for future sustainable food production.
LUMO and PumpMan NorCal Partner: To enhance irrigation efficiency in Northern California through smart technology.
AGCO Corporation’s Sustainability Efforts: 2023 report outlines progress and targets in sustainable agricultural practices.
Regrow Ag Achieves B Corp Certification: Recognition for its contribution to sustainable agriculture and reducing greenhouse gas emissions.
Advances in Agricultural Technology and Robotics
Orchard Robotics Raises $3.8M to Advance Precision Agriculture
Orchard Robotics has successfully raised $3.8 million in seed and pre-seed rounds. The fundraising attracted a significant amount of interest from a variety of investors. The company has introduced advanced AI-driven camera systems for efficient farm management and precise crop data collection. This technology will provide detailed insights into each tree's health and output, helping increase crop yield and quality sustainably. Orchard Robotics aims to transform the agriculture industry with the support of notable investors and validation by use among major fruit growers. This investment will fuel the company's mission to extend precision crop management practices, benefiting farmers and the supply chain alike.
Fieldwork Robotics Secures £600k Government Grant to Advance AgriTech Robotics
Fieldwork Robotics has been awarded a £600k grant from DEFRA and Innovate UK to enhance its AI-powered agricultural robots. The project, called BerryAI, aims to expand the company's leading position in the fresh raspberry industry by using AI and advanced robotic systems. In addition, Christopher Levine has been appointed as the new Chief Financial Officer, bringing a wealth of experience from the technology and consulting sectors. The BerryAI project focuses on enhancing the AI and autonomous capabilities of the robots, with a focus on super-human vision and autonomous decision-making for more efficient harvesting. Fieldwork Robotics is gearing up for field trials to showcase the real-world application of its technology.
Sustainable Agricultural Practices and Environmental Stewardship
Senken Partners With Exomad Green Securing The World’s Largest Biochar Deal
Senken and Exomad Green have signed a landmark biochar agreement, which is one of the largest deals in the world. The deal will focus on the supply of 81,600 tonnes of carbon removal credits between 2025 and 2028. The initiative aims to highlight the important role that biochar plays in carbon sequestration, soil enhancement, and agricultural productivity. The project will adhere to the Puro Standard and maintain meticulous tracking systems to ensure transparent and accountable carbon removal. The project will also provide social and environmental benefits, including improved agricultural practices, for the local communities in Concepción, Bolivia. This collaboration underscores the companies’ commitment to promoting sustainable development and ecosystem preservation, and their vision for a net-zero future.
Sol Systems and American Farmland Trust Collaborate on Sustainable Solar Energy and Agriculture Integration
Sol Systems has partnered with the American Farmland Trust (AFT) to integrate solar energy projects with agricultural land use. They will collaborate on ‘Smart Solar’ initiatives to minimize the environmental impact of solar energy projects while promoting ecosystem-focused land stewardship. The partnership also includes groundbreaking research into soil health and aims to showcase the benefits of agrivoltaics. Sol Systems has committed to building six large-scale dual-use solar projects in the Midwest to support both renewable energy generation and agricultural production.
Lightstar Renewables Unveils Landmark Agrivoltaics Solar Project
Lightstar Renewables has successfully secured permits for the Nesler Road agrivoltaics community solar project, which is an innovative initiative in Illinois. The project involves covering 36 acres with a 4.95 MW AC capacity, aiming to supply power to 1,100 homes annually without compromising the use of the land for agriculture. This pioneering project uniquely combines solar energy production with hay farming, providing support for livestock nutrition during challenging periods like winter and droughts. The involvement of Kane County showcases a commitment to blending renewable energy initiatives with the preservation of farmland and the enhancement of pollinator habitats. Subscribers to the project are expected to benefit from reduced utility expenses, reflecting a model for integrating eco-conscious practices with economic incentives.
Corporate Moves and Strategic Investments
One Equity Partners Invests in Leading Tractor Attachment Manufacturer CBM
One Equity Partners has recently announced its strategic minority investment in CBM - a global leader in manufacturing tractor attachment equipment. This partnership marks a collaboration with the Cornia Family, the founding family of CBM, which aims to support the company's ongoing growth and innovation in the agricultural sector. CBM and One Equity Partners plan to focus on expanding CBM's product portfolio and geographic reach through organic growth and strategic acquisitions. The deal is supported by a strong advisory and financing team, which highlights the robust backing for CBM's future endeavors.
Pyka Relocates Headquarters to Alameda Naval Air Station Site
Pyka, a company that creates electric aircraft for agricultural and cargo use, has secured a 110,000-square-foot space at Alameda Point for its new corporate headquarters and production facility. The space will be used for the design, development, and manufacturing of its autonomous electric aircraft. After a $37 million Series A funding round in 2022, Pyka is now part of a hub of green technology innovators at Alameda Point. Pyka is expanding its operations to the area to further its growth and community integration.
AgTech Companies' Operational and Financial Milestones
ADAMA Welcomes New Executive Team Members & Publish Financial Results
ADAMA Ltd. (SZSE 000553) has announced significant changes to its executive team. Florian Wagner is now the Executive Vice President for Portfolio and Innovation, while Ruthie Zeltzer is the Executive Vice President of People. Wagner will drive ADAMA's product development, marketing, and digital transformation, while Zeltzer will focus on building a people-first culture. The company aims to continue delivering innovative and quality solutions to customers worldwide. ADAMA Ltd. reported its financial results for Q4 and the full year of 2023. The company experienced a decline in sales and profits due to challenging market conditions. However, its management strategies led to an improvement in cash flow. The company plans to capture growth in the value innovation segment through a strong pipeline of differentiated products and proprietary technologies.
Cox Enterprises Launches Cox Farms to Focus on Sustainable Agriculture
Cox Enterprises has launched Cox Farms, a project aimed at promoting sustainable food production through indoor farming methods. The project is a strategic move towards securing future produce sector investments within Cox's sustainable business portfolio, which has surpassed $2 billion mark. President of Cox Farms, Steve Bradley, has emphasized the project's commitment to securing a safe and sustainable food supply. With a history that spans over 125 years in agriculture, the company is set to become a prominent greenhouse operator in North America. The partnership is a testament to the innovative sustainable agricultural practices that aim to increase accessibility to clean and sustainable produce.
Innovative Yield Trait Enhances Soybean Production: A Closer Look at Texas Crop Science’s Breakthrough
Texas Crop Science (TCS) has announced an increase of 21% in soybean yield thanks to its new yield trait. This development could generate an additional $121 per acre of soybean fields for growers in the US, based on current market values. The yield trait by TCS is expected to have a global impact, potentially influencing soybean cultivation on approximately 330 million acres of fields around the world. To further develop high-yielding soybean varieties through modern breeding techniques, TCS has partnered with GDM, a soybean genetics leader. TCS's commitment to agricultural innovation is backed by extensive field trials and research conducted across diverse geographical locations.
Certifications and Reports Highlighting Sustainability Efforts
Intelinair Secures SOC 2 Compliance Certification
Intelinair has achieved SOC 2 (Type 1) compliance certification, which indicates its dedication to maintaining high standards of operational integrity and data security. This certification reflects the company's ongoing focus on ensuring the safety and security of its data and systems. The certification gives users of Intelinair's digital platforms increased confidence in the security and integrity of their data. Intelinair employs advanced technologies such as AI and machine learning to provide agricultural insights to its users. The SOC 2 certification involves a third-party audit to thoroughly evaluate the implementation of effective security measures.
AGCO Corporation Releases 2023 Sustainability Report
AGCO Corporation (NYSE: AGCO) has released its 2023 Sustainability Report, highlighting the company's efforts to enhance its sustainable operations and assist farmers globally in achieving sustainable agricultural practices. The report focuses on AGCO's progress in its operations and the development of technologies aimed at helping farmers sustainably feed the world. AGCO also discusses precision agriculture solutions that enable farmers to optimize input use and protect soil health. The report outlines new sustainability targets focused on reducing emissions, waste, and water usage.
Read the complete report here.
Regrow Ag Attains B Corp Certification
Regrow Ag has achieved B Corp certification from B Lab, placing the company within a global community of 8,000 sustainable enterprises. Regrow Ag's platform addresses greenhouse gas emissions in the agriculture sector and enables key industry players to implement sustainable practices. The certification is a confirmation of the company's ongoing efforts to align with like-minded businesses dedicated to enhancing resilience throughout their supply chains.
Collaborations for Efficiency and Innovation
LUMO Partners with PumpMan NorCal to Enhance Irrigation Efficiency
Lumo has partnered with PumpMan NorCal to offer smart irrigation solutions, Lumo One, throughout Northern California. The goal of this collaboration is to increase water efficiency and reduce labor hours in agriculture through the use of innovative technology. PumpMan NorCal will provide comprehensive services for Lumo One, which will improve the distribution and support system. The partnership is focused on promoting sustainable practices in agriculture, with both entities sharing a commitment to water management. The partnership aims to address the challenges of water scarcity and labor costs in the agricultural sector.
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