Sensonomic will work with the leading European olive oil producer Innoliva to increase the value of their high quality organic olive oil production.
“Innoliva is a data and evidence driven business, and Sensonomic is offering a new way of delivering actionable insight. We are committed to continuously improving our operations, and the collaboration with Sensonomic enables us to test a novel approach to decision making in agriculture”, says Jorge Pena, President & CEO of Innoliva.
“Working with best-in-class and innovative producers is the best way of showing what our technology can offer. Innoliva is already achieving much higher yields than other producers, and by adopting our technology we anticipate a further increase in sustainable profitability”, says Sensonomic CEO Anders Gundersen.
Sensonomic’s proprietary technology combines information from their clients’ own operations with external sources such as weather predictions and satellite data. This is then run through millions of computational simulations, providing farming operations with access to validated predictive and prescriptive insight. The results can be used to increase the proportion of yield sold in the futures market, improve efficiency of harvesting efforts and logistics, and ultimately by keeping mills operating at optimal capacity. The software product will be adapted to work across crops and geographies, giving leading agribusinesses an edge when it comes to reducing operating expenses and increasing top line revenue.
The project is scheduled to last for two full harvest cycles, and the collaboration is made possible through financial support from Innovation Norway, the Norwegian government’s instrument for supporting new technology development and applications.
“Agriculture has long been under pressure to become more data driven, and the early adopters are showing the way. They are making significantly higher profits in a more sustainable manner than their competitors. We also know that access to manual labour will become more difficult under negative shocks such as the current Covid-19 pandemic, and the future of agriculture is to adopt technologies that truly enable adaptation to positive and negative shocks”, says Gundersen.
For more information on how we can improve profitability for your agribusiness, please reach out to firstname.lastname@example.org.
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