Ekobot

Company: Ekobot
Listings: First North Sweden
Ticker: EKOBOT
Market cap at time of publication: 12,7 MSEK
Stock price at time of publication: 0,8 SEK
Business: Agtech farming robotics
Website: 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 an initial target to sell 10 robotic systems during 2024 and early 2025, with delivery scheduled for the 2025 growing season."

The potential order value of the sales target by Homburg Holland is not revealed however our assessment is that the total ordervalue 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."

Upon doing some research on Homburg Holland it seems that they have an annual turnover close to €5 million EUR and employs 5 individuals which makes us feel comfortable in the belief that the distributor will be able to achieve their announced sales target.

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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