The Yield is working hard to build value for investors.
The Yield is an agriculture technology company. We help improve customers’ yields. We do this by providing on-farm sensors & a customised information service to make faster decisions. The Yield works with the top 20% of growers.
Our end-game is to be a world leader in intelligent solutions for growers
Message from Managing Director
The first quarter of FY17 saw us achieve the milestone of putting our oyster solutions into production. The process has gone smoothly and there has been some great learning.
The development of our agriculture solutions is going to budget and plan. Our first agriculture app will be released before the end of the year.
The Yield will be raising $6 million in a Series A capital raising over the next three months. We are raising funds to make our Microclimate Sensing System ready for production (e.g. hard tooling, regulatory approvals and initial manufacturing), and to implement our marketing and sales strategy. This will give The Yield runway through to December 2018 on the basis of current projections. A revised Information Memorandum is available on request. Please let me know as soon as possible if you would like to participate in the Series A round.
Oyster Solution in Production
Our Oyster Growers’ solution is in production. The Yield has completed the installation of our sensing stations across 80% of Tasmania’s oyster harvest areas and our trial site in Pambula, NSW. It has gone very well. Our technology has been tested by some very wild weather in October. I am delighted to report that we came through this without any interruption to our service. We achieved a 95% conversion rate on customer registration and 50% of customers use our software daily.
The Yield has completed contracts and user acceptance testing with the NSW and Tasmanian governments for our Food Safety Regulators solution. These regulators will use our technology to manage the opening and closing of shellfish harvesting. It will be in production in October 2016.
Launch of Growing Conditions App
The Yield’s first agriculture app will be in the market before the end of 2016. This free app is designed for customer acquisition. The app has been developed together with growers to ensure that it is easy to use.
The Yield is partnering with The Queensland University of Technology, a leading research organisation in the field of bioinformatics and data analytics, to develop the models that will be incrementally added to the solution.
Horticulture Innovation Australia
The Yield also has established a solution-to-product strategy. We have contracted with Horticulture Innovation Australia (HIA) to develop our irrigation solution. HIA is a grower owned rural development corporation. We are negotiating a second contract with HIA for our disease management solution. The National Australia Bank (NAB), which has the largest market share in agriculture, is co-funding the disease management solution. Together these contracts are worth $2 million to the business. They give The Yield solutions revenue as well as providing a channel to market to 30,000 horticulture businesses in our target market.
Digital Agronomist appointed
The Yield has appointed Tim Neale as our digital agronomist.
We are excited to welcome Tim Neale to the team. Tim is one of Australia's pioneering agricultural technologists. He has over 20 years' consultancy experience in Australia and internationally. He has also run over 20 research, development and extension projects in AgTech.
He has deep experience across grains, horticulture, cotton, viticulture, sugarcane, turf and tree crops. He is a sought after speaker on precision agriculture in Australia and internationally.
AgTech - The World is an Oyster
The Yield is one of six AgTech Startups showcased in Start Up Australia’s recent report on AgTech in Australia. ‘Powering Growth – Realising the Potential of AgTech for Australia’. The report highlights the current status of AgTech in Australia and looks at opportunities for continued expansion of the industry to help meet the growing demand for global food supply. The Yield Managing Director Ros Harvey said The Yield is proud to be showcased amongst other trailblazing AgTech companies. “If we are going to increase global food supply to meet expected demand in 2050, we need to grow smarter. We give our customers the power to improve their yield by providing on farm sensors and a customised information service to help them make decisions faster.”