Investor Interest Growing in Agricultural Technologies

FinancialBuzz.com News Commentary

NEW YORK, May 11, 2023 /PRNewswire/ -- The agriculture industry has generally been a large and essential industry. In recent years, it has undergone significant changes due to advancements in technology, transforming the way we farm and produce food. Agriculture technology, also known as AgTech, refers to the use of technology to enhance agricultural productivity and efficiency. This includes the use of precision agriculture, automated equipment, biotechnology, and other technological innovations that help farmers make better decisions and optimize their operations. Among the various technological advancements are precision agriculture, automated equipment and biotechnology. The impact of agriculture technology extends beyond just the farming sector, as the benefits of AgTech can be felt across the entire supply chain, from increased production and efficiency to improved food safety and security. VCI Global Limited (NASDAQ: VCIG), The Mosaic Company (NYSE: MOS), Vital Farms (NASDAQ: VITL), AppHarvest, Inc. (NASDAQ: APPH), Corteva, Inc. (NYSE: CTVA) 

Small-scale farmers can also benefit from AgTech, as it can help them optimize their operations and increase yields, even with limited resources. For example, precision agriculture tools can help small-scale farmers make data-driven decisions about planting and fertilizing, while automated equipment can reduce labor costs and improve efficiency. On the other hand, industrial farming has also been greatly impacted by AgTech, allowing for larger-scale operations with fewer resources. The use of precision agriculture tools, such as drones and sensors, has allowed farmers to monitor and analyze large areas of land, optimizing production and reducing waste. And, according to data published by Exploding Topics, as of 2023, the North American AgTech market is valued at over USD 9 Billion - over double that of any other region.

VCI Global Limited (NASDAQ: VCIG) announced yesterday breaking news that, "it has signed an Initial Public Offering ("IPO") advisory mandate with Agroz Group Sdn Bhd ("Agroz"). This IPO advisory mandate entails a USD2 million advisory fees and also a success fees of 5% of the market capitalisation of Agroz when listed.

The scope of work under this mandate includes, but is not limited to:

• review and assist with the reorganization with respect to the capital structure of Agroz;
• perform preliminary due diligence on the business and develop equity story for Agroz;
• review on operating and financial performance, governance and management structure of Agroz;
• interview the professionals required and make such recommendations for Agroz's engagement;
• arrange for the formation of the due diligence working group ("DDWG");
• management of the DDWG in producing professional materials in a timely manner;
• review, comment and assist in responding to U.S. Securities and Exchange Commission ("SEC") and Nasdaq with regards to any queries that may arise; and
• assist in obtaining all requisite regulatory approvals.

"With this latest IPO advisory mandate win, this further exemplifies clients' trust in our capabilities in the provision of such financial related advisory services. With the global economies sailing further away from the pandemic era, I am confident more companies will seek to be listed and we will be at hand to bid for more of such contracts," said Dato' Victor Hoo, Chairman and Group Director of VCI Global.

Agroz, founded by Gerard Lim in late 2020, is an agriculture technology company. The company utilises Controlled Environment Agriculture ("CEA") in the provision of solutions in sustainable farming, to improve food safety, food security and sustainability, delivering value direct to the community. Gerard Lim has established a proven track record in leading, managing and building businesses from start-up stage, to turnaround management, and growing businesses into multi-million-dollar ventures.

"Agroz is experiencing high growth and demand for our Controlled Environment Agriculture AgTech solutions and services are strong as we expand into Southeast Asia. To support this growth, we are seeking to raise capital through an IPO. We have selected VCI Global as our IPO advisor due to their outstanding track record as well as understanding of our industry sector," said Gerard Lim, Chief Executive Officer of Agroz.

The Mosaic Company (NYSE: MOS) announced on December 6^th, 2022 that it has temporarily curtailed production at its Colonsay potash mine in Saskatchewan. "Our decision to temporarily curtail Colonsay reflects near-term dynamics and not long-term agricultural market fundamentals. Crop prices remain strong and continue to support healthy grower economics," said President and CEO Joc O'Rourke. "After a year of reduced applications, we believe farmers are incentivized to maximize yields, which should drive significant recovery in fertilizer demand in 2023."

Vital Farms (NASDAQ: VITL), a Certified B Corporation that offers a range of ethically produced foods nationwide, reported on May 4^th, financial results for its first quarter ended March 26, 2023. Vital Farms (Nasdaq: VITL) is a Certified B Corporation that offers a range of ethically produced foods nationwide. Started on a single farm in Austin, Texas in 2007, Vital Farms has become a national consumer brand that works with over 300 family farms and is the leading U.S. brand of pasture-raised eggs by retail dollar sales. "2023 is off to a tremendous start, as we achieved the highest net revenue and Adjusted EBITDA in a single quarter in Vital Farms' history at $119.2 million and $13.9 million, respectively.1 This was driven by both strong internal execution and robust consumer demand for our products as our volumes grew 26% during the period," said Russell Diez-Canseco, Vital Farms' President and CEO.

AppHarvest, Inc. (NASDAQ: APPH) announced on January 18^th, it has started commercial shipments from its first harvest of tomatoes at its new 60-acre high-tech indoor farm in Richmond, Ky. This marks the first time ever that all facilities in the AppHarvest four-farm network are shipping to top national grocery store chains, restaurants and foodservice outlets under a variety of brands for Mastronardi Produce. The opening of AppHarvest Richmond last December delivered on the company's commitment to quadruple the number of farms operating in its network by the end of 2022, in what the company believes is the largest simultaneous build out of controlled environment agriculture (CEA) infrastructure in U.S. history. With this milestone, the company is moving from a focus on construction and development to the next phase of the business focused on operations. On January 3, 2023, AppHarvest named CEA industry veteran and AppHarvest Board Member Tony Martin as Chief Operating Officer to leverage his extensive background in CEA. Martin is working to optimize production, revenue and costs across the AppHarvest four-farm network totaling 165 acres under glass.

Corteva, Inc. (NYSE: CTVA) announced on May 9^th, its farmer-focused innovations, sustainability-driven initiatives and industry-leading R&D pipeline advancements during the Company's Innovation Update. Through key product launches, the Company is expanding its leadership position in the global seed and crop protection market by continuing to deliver products that increase and protect yield potential for farmers globally. With over 100 years of hybrid corn breeding, Corteva has built generational strength in germplasm performance that provides sustained yield advantage across diverse growing conditions. Key product launches showcase the Company's industry-leading corn and soybean products that deliver unique value to farmers, including Vorceed® Enlist® and the continued adoption of Pioneer® brand A-series with Enlist E3® technology. New fungicide options for farmers continue to expand as the successful Inatreq™ active is now joined by Adavelt™ active. Recently launched, Adavelt™ active enables next-level disease control on a broad range of crops including fruits and vegetables, trees, nuts, oilseeds and flowers.

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