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- AgTech Digest: Weenat Banks 8.5M Euro, AGCO Corporation Launches PTx, ADAMA Launches A New Fungicide & More!
AgTech Digest: Weenat Banks 8.5M Euro, AGCO Corporation Launches PTx, ADAMA Launches A New Fungicide & More!
Discover the latest developments in the world of AgTech this week!
Good morning readers! This week, we cover the latest developments in the world of AgTech, from the funding round banked by French company Weenat to further its development throughout Europe, Vertical Future’s grant to ‘Advance Autonomous Agriculture for Space Exploration’, to the launch of PTx Trimble by AGCO Corporation.
Let’s dive into it!
This Week’s AgTech Digest
Funding, Grants & Financial News
Weenat Secures €8.5 Million in Series C Funding for Agricultural Innovation
Weenat, recognized as a European leader in agricultural soil water management, has successfully closed its Series C financing round, obtaining an investment of €8.5 million. This financial milestone enables Weenat to accelerate its mission of expanding innovative climate resilience solutions across Europe, addressing the pressing challenge of water scarcity in agriculture through cutting-edge technology.
“Weenat stands committed to advancing our technological capabilities to serve the farming community more effectively, amidst the growing challenges of climate change and water scarcity,” stated Jérôme Le Roy, founder of Weenat.
Aqua Capital Closes Ag & Food PE Fund III with $450m, Exceeding Targets
Aqua Capital's Ag & Food PE Fund III has successfully closed with a total of $450 million, exceeding the initial target of $400 million. The fund aims to continue Aqua Capital's approach to investing in middle-market companies in the Ag and Food sectors and will focus on creating value and enhancing operations. The fund's investments will target companies that lead the transformation in agribusiness and food value chains across the Americas, with an emphasis on sustainable practices and regenerative agriculture.
Nearly half of the Fund III's capital is already allocated to five platforms across Latin America and the US, supporting sustainable agriculture inputs, Ag retailing, and Ag-Tech/Services. The fund attracted a diverse global mix of institutional investors, including asset managers and sovereign wealth funds, with a notable addition of new investors and a strong return of previous partners.
Vertical Future Awarded £1.5M Grant for Space Agriculture Project
Vertical Future, a leading UK-based specialist in vertical farming technology, has been awarded a £1.5 million grant to advance the “Autonomous Agriculture for Space Exploration” project. This groundbreaking initiative aims to adapt controlled-environment-agriculture (CEA) systems for space, targeting the prototype development of Low Earth Orbit (LEO) growing systems aboard Axiom Space’s commercial space station, anticipated to be in orbit by 2026.
Dr. Jen Bromley, VF’s Chief Scientific Officer, emphasized the project’s potential to position VF and the UK as leaders in the nascent field of Agri-Space. The collaboration’s success hinges on the expertise and innovative technologies contributed by its partners, promising to deliver autonomous growing environments critical for sustaining life beyond Earth.
Partnership
AMAZONE Partner With NEXAT to Develop Advanced Fertilization Technology
AMAZONEN-WERKE H. DREYER SE & Co. KG has teamed up with NEXAT, combining their expertise to innovate within the agricultural sector. This collaboration focuses on developing a high-capacity fertilizer spreader aimed at improving efficiency and sustainability in farming operations. The central innovation of this partnership is a new fertilizer spreader that incorporates Amazone’s TS spreading unit with two hoppers, creating a unified system with a capacity of 20,000 liters. This design is intended to optimize the spreading process, making it more efficient than traditional methods.
The new fertilizer spreader uses NEXAT’s Wide-Span CTF system that maintains permanent tramlines, significantly reducing soil compaction. This method improves the accessibility of fields while protecting soil health, aligning with sustainable agricultural objectives.
IdeeLab Biotechnology Joins Forces with Ginkgo Bioworks to Accelerate Innovation
IdeeLab Biotechnology, a Brazilian innovator in agricultural biotechnology, announced its new partnership with Ginkgo Bioworks , a global leader in cell programming and biosecurity. This collaboration marks IdeeLab’s integration into the Ginkgo Technology Network, a global ecosystem of technology partners committed to revolutionizing customer R&D programs.
Ronaldo José Durigan Dalio, CEO of IdeeLab, expressed enthusiasm for the partnership, highlighting its potential to fast-track innovative solutions to the Brazilian market and enhance both companies’ offerings. Similarly, Anna Marie Wagner, SVP, Head of AI and Corporate Development at Ginkgo, praised IdeeLab’s role in transforming Brazilian agriculture and anticipated the comprehensive benefits that the collaboration will bring to ag biological product development.
Argo Living Soil Forms Strategic Partnership for Biochar Development
Argo Living Soils Corp. has entered into a strategic memorandum of understanding with Connective Global SDN BHD, marking a significant step towards exploring the potential of biochar in agricultural and industrial applications across Malaysia and selected regions in Asia. This initiative aims to cater to the burgeoning demand for sustainable agricultural products in Southeast Asia and the Middle East.
Peter Hoyle, Chief Executive Officer of Argo, expressed enthusiasm about the partnership: “This is an exciting and significant step for Argo, which will allow us to evolve our business in the large and growing Asian market.”
AgEagle Aerial Systems Inc. Secures Significant Tender with the Greek Ministry of Agriculture Through ALVO Partnership
AgEagle Aerial Systems Inc. , a global leader in drone, sensor, and software solutions for commercial and government applications, announced a new milestone through its exclusive Value Added Reseller (VAR), ALVO. This achievement involves ALVO securing a tender from the Greek Ministry of Agriculture to supply 50 multirotor unmanned aerial vehicles (UAVs) equipped with AgEagle’s RedEdge-P multispectral cameras.
Bill Irby, President of AgEagle, highlighted the significance of these partnerships: “Over the past year, AgEagle has focused on leveraging our partner/reseller network through enhanced training and marketing support initiatives to optimize the reach, industry expertise, and influence that our resellers yield in the geographic regions and market segments they serve.” He added, “As a result, we are seeing a groundswell of sizable new commercial and government tenders being pursued and won which we expect will have measurable impact on our quarter-over-quarter revenue growth for the foreseeable future.”
New Fungicide, Joint Venture Company, Offices & Advancements
ADAMA Launches Maxentis®, a Versatile Fungicide
ADAMA Ltd. (SZSE 000553), a prominent figure in the crop protection sector, has announced the launch of Maxentis®, a new fungicide designed to combat a variety of diseases in crops such as wheat, barley, and oilseed rape. This development is geared towards increasing yields and enhancing farmers' financial returns, showcasing a step forward in fungicide technology.
“Maxentis® has been developed to offer dependable control over diseases that are a significant concern for farmers,” Alex Mills, Global Head of Fungicides at ADAMA, explained. The product addresses Septoria, Yellow Rust, and Brown Rust in wheat, Leaf Blotch and Net Blotch in barley, and Sclerotinia and Alternaria in oilseed rape, reflecting a tailored approach to disease management in these key crops.
AGCO Corporation Announces Launch of PTx for Precision Agriculture
AGCO Corporation has launched a new brand called PTx which will focus on precision agriculture technology. The brand will incorporate Precision Planting and PTx Trimble JV technologies to drive AGCO's technological advancement and offer innovative solutions to the agricultural sector. PTx aims to reach farmers globally through various means, including retrofitting services, integration with OEM partners, and equipped technologies in AGCO’s machinery brands. Seth Crawford has been appointed as the leader of PTx, with a focus on providing interoperable solutions across various brands and crop cycles. The PTx brand identity represents AGCO's commitment to enhancing agricultural productivity through intelligent technology integration.
Seth Crawford, appointed as Senior Vice President and General Manager of PTx, highlighted the brand’s customer-centric approach. “We believe technology should enable farmers to navigate seamlessly across brands and stages of the crop cycle,” Crawford stated. He emphasized the goal of delivering “interoperable, straightforward precision ag solutions,”
Doktar Sets Foot in Wageningen, Netherlands
Doktar Technologies, which is a Turkish agri-tech firm, has decided to expand its operations to Wageningen, located in the Netherlands. The company specializes in developing digital farming solutions using advanced technologies such as remote sensing, machine learning, and IoT. The main aim of Doktar is to facilitate sustainable farming transitions and enhance decision-making for various stakeholders in the agricultural sector.
This expansion is supported by the Invest in Holland Network, NFIA, Oost NL, and Wageningen Campus, highlighting the collaborative effort to foster innovation. Doktar operates globally, with its software being used in 65 countries, and maintains offices in Turkey, Greece, Morocco, Romania, and Spain.
The Sustainable Green Team Advances in Sustainable Agriculture with New Organic Fertilizer Technology
Sustainable Green Team, Ltd. (OTCQX: SGTM), recognized for its eco-friendly product offerings, recently announced a potentially transformative development in agriculture. The company has signed an agreement providing it the option to purchase trademark, patent rights, and intellectual property for a novel organic fertilizer technology. This strategic move could redefine sustainable farming practices and aligns with SGTM’s objectives to innovate within the fertilizer sector.
“We are thrilled to secure the option to purchase the carbon restore patent rights and IP for our revolutionary organic fertilizer,” remarked Tony Raynor, CEO/President of SGTM.
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