For immediate release: 26 April 2016
Bosch invests $2.5 million in Tasmanian AgTech business
Additional $2.5 million investment increases Bosch share-holding of Tasmanian AgTech business, The Yield.
Bosch Oceania Regional President, Mr Gavin Smith, to join The Yield’s Board of Directors
Partnership includes a global licensing deal
The Yield to scale up operations including 15 new highly-skilled jobs
Tasmanian AgTech business, The Yield announced today it had attracted further investment from global technology and services provider the Bosch Group as part of its current strategic investment round.
The partnership brings together the global sensor manufacturer with one of Australia’s newest and most innovative Internet of Things technology companies.
The Yield uses sensors, data management and user-friendly apps to create novel tools for agriculture and aquaculture industries.
The Yield’s technology enables solutions such as improving on-farm productivity, reducing the cost of compliance with food safety standards, increasing shelf life in the food supply chain, and better risk management for financial services in the food industry.
The investment was announced today by Tasmanian Premier, Will Hodgman.
“This deal reflects the great potential of not just The Yield, but the potential of Tasmania to generate new technology, highly-skilled jobs and investment.
“Tasmanian farmers will be the first to access The Yield’s products, giving them an enormous edge in a very competitive market,” said Mr Hodgman.
Gavin Smith, Bosch Oceania Regional President with responsibility for Oceania is in Hobart for the announcement and led a delegation of Bosch executives that toured Tasmania’s agriculture industry earlier this week. Speaking at the historic Pooley Wines cellar door, -one of Australia’s most innovative and award-wining wineries, he said:
“The Yield's is a leader in developing customer focused solutions that bring together the power of the Internet of Things in agriculture. We will work with The Yield to scale their technology globally".
The Yield founder and Managing Director, Ros Harvey, said the investment would support growth of the company, including more skilled jobs.
“We are experiencing a strong demand for our technology. This investment allows us to bring forward our agriculture solutions including the development of our microclimate sensing system giving growers unprecedented insight into their local growing conditions.”
“Investment from a globally recognised brand like Bosch will be a big help to accelerate development and get our products into the hands of growers around the world.”
For more information, contact Ros Harvey at firstname.lastname@example.org or 0409 348 264.
About The Yield
The Yield provides complete solutions solving business problems in both agriculture and aquaculture. It uses the latest sensors, data management software and user-friendly apps delivered via ‘the Cloud’.
In January, it released its first product for the oyster industry, which is providing an important environmental data service to help manage Pacific Oysters Mortality Syndrome (POMS).
The Yield is already recognised as leader ‘the Internet of Things’ technology and is transforming industry with its first solution released in the oyster industry.
The Yield was founded in 2014 by Ros Harvey and has since established offices in Hobart and Sydney, employing eight people.
It has raised nearly $2 million in previous investment and won a prestigious $1 million Accelerating Commercialisation grant. Its technology partners are Robert Bosch, Microsoft and Intel. Robert Bosch is also an investor.
For more information, visit www.theyield.com
About Robert Bosch Australia
Bosch has had a presence in Australia since 1907, opening its first wholly owned subsidiary, Robert Bosch (Australia) Pty Ltd in 1954. Bosch generates revenues of more than 750 million Australian dollars per annum in Oceania, and employs over 1400 associates. Our regional activities are operated through six wholly owned subsidiary companies and cover a diverse range of businesses including household appliances, security technology, power tools and accessories, engineering services and contract manufacturing, parts and equipment for automotive workshops and motorsport enthusiasts, franchised car servicing, equipment, services and solutions for manufacturers, drives and control technology, software innovations, hot water and heating systems, packaging technologies, and service support for Bosch equipped eBikes.
The Bosch Group is a leading global supplier of technology and services. It employs roughly 375,000 associates worldwide (as of December 31, 2015). According to preliminary figures, the company generated sales of more than 70 billion euros in 2015. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiaries and regional companies in some 60 countries. Including sales and service partners, Bosch’s global manufacturing and sales network covers some 150 countries. The basis for the company’s future growth is its innovative strength. Bosch employs 55,800 associates in research and development at roughly 115 locations across the globe. The Bosch Group’s strategic objective is to deliver innovations for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.”
The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop for Precision Mechanics and Electrical Engineering.” The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant up-front investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH.