ESGFIRE portfolio company Ekobot, with one of the most advanced farm robots on the market today (24/10 2023) reports news on their validation process of its newly developed in-house autonomous implement carrying robot. The strategy change communicated by Ekobot on August 21st 2023 regarding distributors also covers the development of a carrier unit which, according to the company, will reduce unit costs and give Ekobot a perfect match for its specific requirements.
Company: Ekobot
Listings: First North Sweden
Ticker: EKOBOT
Market cap at time of publication: 16,8MSEK
Stock price at time of publication: 1,17 SEK
Business: Agtech farming robotics
Website: https://www.ekobot.se/
The initial validation tests confirms that precision in navigation and positioning in house developed platform is at least equivalent to the previously purchased platforms. ESGFIRE is delighted to see that Ekobots technical team has been able to develop an in house product with the same high standards as their customers are used to.
ESGFIRE also views these news as a positive contribution for Ekobot to further stand out against their competitors and this change should both strengthen margins and the company’s competitive advantage.
Ekobot are meticulous in pointing out that these changes do not change the company’s direction or focus and that “ Ekobot’s core competency remains software and artificial intelligence for the control of the company’s intelligent tool systems and tool-carrying robots, all aimed at supporting agriculture’s transition towards better resource utilization, increased sustainability, and higher yields.”
The company’s base product offers automated mechanical weed control which removes the need for harmful pesticides and the need for manual labor. The new carrier will offer clients a customized solution even further contributing to precision and a faster transition to a greener future within agriculture.
Tomas Täuber, CTO at Ekobot, commented on the results:” It is exciting to see our in-house implement carrier robot in operation and confirm that our high standards for accurate field navigation have been met. Additionally, our platform is more agricultural and easier to produce, providing cost advantages both in system manufacturing and operation.”
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