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ESGFIRE comments on Ekobot’s strategic update and share rights issue

Company EkobotListings First North SwedenTicker EKOBOTMarket cap at time of publication 21,7 MSEKStock price at time of publication 0,454 SEKBusiness Agtech farming roboticsWebsite https://www.ekobot.se/ ESGFIRE comment: Today (12/3) Ekobot announced the outcome of the share rights issue. The share rights issue was subscribed for a total of 25.98 percent, of which approximately 9.16 percent was subscribed for with subscription rights and approximately 16.82 percent was subscribed for without subscription rights. Ekobot is thus provided with a total of approximately SEK 4.

ESGFIRE comments Ekobot cooperation with Autoagri

Company EkobotListings First North SwedenTicker EKOBOTMarket cap at time of publication 22,1 MSEKStock price at time of publication 0,497 SEKBusiness Agtech farming roboticsWebsite https://www.ekobot.se/ ESGFIRE comment: Ekobot yesterday (26/2 2024) announced a collaboration with Autoagri with the aim to adapt the Ekobot intelligent weeding tool to the AutoAgri autonomous implement carrier. The initial goal is to setup a commercial demonstration with a Norwegian customer during the third quarter of 2024. The flexible solution for modern, profitable, and sustainable

ESGFIRE comments on Ekobot signing new distributor agreement in Belgium.

ESGFIRE comment:Ekobot yesterday (21/2 2024) announced a new collaboration agreement with Homburg Belgium for Belgium.  The agreement gives Homburg Belgium an exclusive right for selling Ekobot's autonomous robotic systems WEAI for mechanical weed control in the region. Homburg Belgium has initially set a target for selling 5 robotic systems in the Belgian market during 2024 and early 2025. By ESGFIRE estimates these 5 systems should be worth roughly 5 million SEK in sales if concluded. Homburg has now provided a forecast to sell a total of 15 of Ekobot's robotic systems in Belgium and

ESGFIRE comments on Ekobot’s rights issue of shares of approximately SEK 18.3 million.

Company EkobotListings First North SwedenTicker EKOBOTMarket cap at time of publication 10,6 MSEKStock price at time of publication 0,696 SEKBusiness Agtech farming roboticsWebsite https://www.ekobot.se/ ESGFIRE comment: Ekobot yesterday (14/2 2024) announced that they have resolved to carry out a new share issue of a maximum of 30,492,634 shares with preferential rights for existing shareholders . Upon full subscription in the Rights Issue, the Company will receive issue proceeds of approximately SEK 18.3 million before issue costs. The Rights Issue is carried to secure

Unleashing the Green Revolution: Ekobot's Journey to becoming a market leader

Company: EkobotListings: First North StockholmTicker: EkobotMarket cap at time of publication: 11 million SEKStock price at time of publication: 0,58 SEKComparable peers: Farmdroid, Naio TechnologiesBusiness:  Sustainable agriculture technologyWebsite: https://www.ekobot.se/ Executive summary:We are initiating coverage on the Swedish agtech company Ekobot. Ekobot is a company redefining the traditional global agricultural landscape through cutting-edge technology. Ekobot addresses the pressing need for sustainable land management. The company has developed an innovative

ESGFIRE comments on Ekobot receiving contribution from the Swedish Board of Agriculture

Company EkobotListings First North SwedenTicker EKOBOTMarket cap at time of publication 10,6 MSEKStock price at time of publication 0,696 SEKBusiness Agtech farming roboticsWebsite https://www.ekobot.se/ ESGFIRE comment: Ekobot today (12/2 2024) announces that they have received the anticipated contribution of 1,7 million SEK from the Swedish Board of Agriculture. Ekobot's autonomous agricultural robot project has been financed through the Swedish Board of Agriculture. The project has now been completed , hence the disbursement of the contribution. The contribution is

ESGFIRE comments on Ekobots new partnership with Väderstad AB

Company: EkobotListings: First North SwedenTicker: EKOBOTMarket cap at time of publication: 11,3 MSEKStock price at time of publication: 0,782 SEKBusiness: Agtech farming roboticsWebsite: https://www.ekobot.se/ ESGFIRE comment:Ekobot today (30/1) announced a new collaboration agreement with Väderstad AB with the aim to “evaluate the performance of a seed drill using vision technology and artificial intelligence (AI).” The news is exciting for several reasons, firstly because it shows that Ekobot's expertise in the industry regarding vision and AI technology is at the

ESGFIRE corrective comments on Ekobot Signing Distributor Agreement for the Netherlands

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 25[th] 2024 stating that

ESGFIRE comments on Ekobot Signing Distributor Agreement for the Netherlands

Company: EkobotListings: First North SwedenTicker: EKOBOTMarket cap at time of publication: 12,7 MSEKStock price at time of publication: 0,8 SEKBusiness: Agtech farming roboticsWebsite: https://www.ekobot.se/ ESGFIRE comment: ESGFIRE is thrilled to learn today (25/1 2024) that our portfolio company Ekobot has 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

ESGFIRE comments on Ekobot Securing Short-Term Loan facility

Company: EkobotListings: First North SwedenTicker: EKOBOTMarket cap at time of publication: 7,3 MSEKStock price at time of publication: 0,51 SEKBusiness: Agtech farming roboticsWebsite: https://www.ekobot.se/ ESGFIRE comment: ESGFIRE is positive upon learning that Ekobot  today (15/2 2024) announced the successful securing of a short-term loan amounting to 3.0 million SEK. The loan is a temporary solution to ensure the company's operational continuity until a more long-term solution can be found. Also, the company is anticipating a disbursement of 1.8 million Swedish

Major Shareholder Increases Stake in Ekobot

Company: EkobotListings: First North SwedenTicker: EKOBOTMarket cap at time of publication: 9,1 MSEKStock price at time of publication: 0,588 SEKBusiness: Agtech farming roboticsWebsite: https://www.ekobot.se/ The company's second-largest shareholder and board member, Tord Cederlund, has in the previous week increased his ownership in Ekobot AB (publ) by 340,000 shares. His ownership now stands at 9.1%, up from the previous 6.9%.ESGFIRE views this insider purchase as a possible positive signal for the company's financing situation. The full press release can be found

ESGFIRE comment on Ekobot's financial situation

Company: EkobotListings: First North SwedenTicker: EKOBOTMarket cap at time of publication: 4,3 MSEKStock price at time of publication: 0,27 SEKBusiness: Agtech farming roboticsWebsite: https://www.ekobot.se/ ESGFIRE comment: Ekobot published an update on their financial situation on December 1st, 2023. Unfortunately, the news communicated was less than encouraging. The company reported that the board of directors and CEO are working persistently to acquire financing before the end of 2023. However negative feedback from one of the majority owners regarding the ongoing

Ekobot publishes interim report for January-September 2023

Company: EkobotListings: First North SwedenTicker: EKOBOTMarket cap at time of publication: 13,7 MSEKStock price at time of publication: 0,896 SEKBusiness: Agtech farming roboticsWebsite: https://www.ekobot.se/ ESGFIRE portfolio company Ekobot on 24/11 2023 announced their financial report for January – September 2023. Financially there is not much to comment other than that Cash and cash equivalents at the end of the period totaled SEK 5,614 thousand (2,370). The company is still at a point where sales are not high enough to cover monthly cash burn there is therefore a risk

ESGFIRE portfolio company Ekobot secures patent for its tool system

Company: EkobotListings: First North SwedenTicker: EKOBOTMarket cap at time of publication: 14,8 MSEKStock price at time of publication: 0,98 SEKBusiness: Agtech farming roboticsWebsite: https://www.ekobot.se/ ESGFIRE comment: ESGFIRE portfolio company Ekobot today (11/9 2023) announced  that they have received notice from the European Patent Office (EPO) that their European patent for mechanial tool systems most likely will be approved. This news further

Ekobot launches the robot weeded 5G-löken together with Telecom giant Telia

Company: EkobotListings: First North SwedenTicker: EKOBOTMarket cap at time of publication: 19 MSEKStock price at time of publication: 1,25 SEKBusiness: Agtech farming roboticsWebsite: https://www.ekobot.se/ ESGFIRE comment: ESGFIRE portfolio company Ekobot today (27/10 2023) announced some exiting news.Telia together with EKOBOT have introduced "5G-löken", a yellow onion where the weed control is performed using an autonomous robot from Ekobot instead of traditional pesticides containing harmful chemicals. This gives a 6 % higher yield on the crop and also a longer

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