Melbourne, 18April 2018 – Award-winning Australian AgTech company, The Yield, todayannounces Costa Group managing director and CEO, Harry Debney, as the Company’snew board chair.
Harrybrings the experience of a long and successful career growing commercialcompanies on a global scale, and with it a decade of industry-leading expertisein food and agriculture.
Ros Harvey, founder and managing director atThe Yield, said she and the board approached Harry due to his remarkable experience at theCosta Group, alongside his board director and non-executive director roles withleading Australian businesses.
“TheYield is on a mission to transform food and farming practices around the worldwith locally developed technology solutions,” said Ros. “We’re growing rapidlyand plan to expand globally this year, taking The Yield technology to morefarms, in more countries.”
“Thewealth of knowledge Harry brings as board chair will be invaluable to The Yieldand help us drive those ambitious growth plans at home and around the world,”continued Ros.
TheYield announced a successful Series A capital raise in April 2017, with backingfrom lead investor Bosch Global, KPMG and global investment marketplaceAgFunder. Its Series A funding of A$6.5m took total investment in the companyto A$11.5m. The Yield expects to undertake a Series B capital raise within 18months to fund its global expansion.
Harry Debney has been the CEO of Costa Groupsince 2010, during which time he has established Costa as Australia’s leadinghorticultural business with a portfolio of produce categories includingmushrooms, berries, citrus, glasshouse tomatoes and avocados.
“I havealways searched for game-changing technology and I am convinced that The Yieldwill make a major contribution to the future success of the global agricultureindustry,” said Harry.
“The agricultural industry has entered anexciting technology phase where we have an opportunity – through more effectivereal time measurement of key variables combined with predictive analysis – toreach new levels of crop performance, especially in terms of quality andyield,” concluded Harry.
Harry oversaw Costa Group’s IPO in July 2015,which was considered one of the sharemarket's most successful private equity-backed IPOs.
Under Harry’s leadership, Costa has been at theforefront of developing innovative agronomic practices including protectedcropping and substrate production techniques and establishing farmingoperations in China and Morocco.
TheYield launched Sensing+, its long-awaited microclimate sensing and 7-daypredictions system for farmers, in October 2017. The company was named MostInnovative International Startup (Series A and Beyond) in the global AgFunderInnovation Awards in March 2018 and was recognised as a top-performingMicrosoft partner globally in 2017.