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BoMill AB has signed an agreement worth EUR 185,000 with Swedish agriculture cooperative group Lantmännen. The agreement covers a rental period and is part of a project evaluating BoMill InSight™ for future investment.
Headquartered in Sweden, Lantmännen is an agricultural cooperative owned by 18,000 farmers, and a leading player in agriculture, machinery, bioenergy and food in Northern Europe. To reduce its environmental footprint while improving production efficiency, the group, with collection points and processing sites across Sweden, is continuously looking for ways to optimize the use and value of the grain produced by its farmers.
In a press release following the latest harvest, Lantmännen highlighted the importance of infrastructural investment to mitigate the effects of climate change. (Lantmännen Press Release October 24, 2023 - This year's Swedish harvest is among the worst in 30 years - lantmannen.com) (https://www.lantmannen.com/about-lantmannen/newsroom/press-releases/2023/this-years-swedish-harvest-is-among-the-worst-in-30-years/). In 2023, the weather conditions during the growing and harvesting periods led to large amounts of wheat and barley not meeting the requirements for flour or malt production. With the ability to assess and segregate batches of grain, at industrial speed, based on the inner properties of each single kernel, BoMill InSight™ will support the group's supply chain to upgrade grains that is not according to the specification.
The rental agreement is part of a project to recover downgraded wheat and barley, based on protein content, and evaluate the technology for future investment. The value of the agreement is approximately EUR 185,000 for a 19-week rental period with the option to purchase the equipment at the end of the period. BoMill InSight™ will be supplied as part of BoMill's integrated container solution for a rapid and easy installation on site. The equipment will be installed in one of Lantmännen's grain terminals in Sweden. The delivery is scheduled for February 2024.
"Supporting our customers in improving the quality and maximizing the value of the grain grown on our fields is our business focus. We look forward to working closely with Lantmännen, this project being the starting point towards a long-term partnership.", said Andreas Jeppsson, CEO of BoMill AB.
"BoMill InSight is a very promising and innovative technology which gives us new opportunities to further optimize the value and quality of grains produced by Swedish farmers but also help us address, in a unique way, the challenges when difficult harvests occur." commented Pontus Sonesson, Head of supply chain at Lantmännen Lantbruk.
This press release contains inside information that BoMill AB (publ) is required to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication on January 24, 2024, at 15:35 CET.