Company: Ekobot
Listings: First North Sweden
Ticker: EKOBOT
Market cap at time of publication: 12,7 MSEK
Stock price at time of publication: 0,80 SEK
Business: Agtech farming robotics
Website: https://www.ekobot.se/

ESGFIRE comment:

ESGFIRE commented on yesterdays news (25/1 2024) that our portfolio company Ekobot had signed a distributor agreement with Homburg Holland for the Netherlands. The summary of the deal is that the distributor will gain an exclusive right “to sell Ekobot’s autonomous robotic systems WEAI for mechanical weed control in the region. Homburg Holland has set an initial target to sell 10 robotic systems during 2024 and early 2025, with delivery scheduled for the 2025 growing season.”

There was however one factual error in our first comment on January 25th 2024 stating that Homburg Holland had 5 employees and a turnover of €5 million EUR. The correct number is that Homburg Holland has 25 employees and a turnover of close to €15 million EUR. We are therefore even more so confident in our belief that the distributor will be able to achieve their announced sales target.

The order value of the sales target by Homburg Holland is not revealed however our assessment is that the total order value should exceed €1 million EUR.

We are especially intrigued by the potential for Ekobot described by distributor Homburg Holland which believes there is “substantial opportunities for the Ekobot robotic systems in the Dutch market, once the first systems are successfully deployed commercially in the Netherlands.”

Homburg Holland will , accordingly to the original press release, manage marketing and sales in the Dutch market, as well as handle delivery, training, support, service, spare parts, and warranty matters.

Founded in 1961, Homburg Holland is one of the leading distributors of agricultural equipment in the Netherlands. The company provides the best and most advanced precision farming technology in the field of crop protection, soil cultivation and sowing techniques. Additionally, Homburg Holland has developed its own products for agriculture optimization, which are not only sold in the Netherlands but also globally through a network of distributors.

Overall the news bodes very well for the future of Ekobot!

The full press release can be found here:
https://www.ekobot.se/mfn_news/ekobot-signs-distributor-agreement-for-the-netherlandshttps://mfn.se/a/ekobot/ekobot-secures-short-term-loan

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