AUGA Tech, UAB (the “Company”), an indirectly owned company of the AUGA Group, is implementing a technology development and commercialization project for €75 million. The Company has submitted an application to UAB for €60 million. “$1 billion for business“ The company is funding a programme run by the national accelerator INVEGA to enable the development of its technology portfolio, and is also forming an impact-focused panel of external industry and financial partners to provide the remaining €15 million and share expertise to accelerate the technology's arrival on the market.
The company's proprietary technology portfolio includes the biomethane and electric tractor AUGA M1, the previously undisclosed multimodal electric farming platform AUGA E1, and sustainable feed production and feeding technology. After raising the funds, the company plans to complete the development and production of approximately 20 AUGA M1, 60 AUGA E1, and three sustainable feed production and feeding technology systems by 2026 as part of the first phase of the project.
As food demand increases around the world, farmers will need to produce 56% more food by 2050 to feed 10 billion people, while reducing emissions by 67%, according to the World Resources Institute.
“Only with the help of technology can farmers achieve sustainability and efficiency goals in their agricultural activities and offer consumers new food options with less environmental impact. We have been working on developing such technologies for years and we are now seeing a visible positive impact on emissions. With the support of our industrial partners and funders, we will create an industry of sustainable agricultural technologies in Lithuania. They will be developed in Lithuania and used worldwide,” says Kęstutis Juščius, Director of UAB AUGA Tech.
The first production-scale technologies will be tested and applied in AUGA Group AB's operations, radically improving the efficiency and profitability of agricultural businesses. The goal is to provide the technology portfolio on a cooperative basis to around 20% of Lithuanian farmers who are already in the first stages of commercial distribution. Access to the technologies will be provided through a cooperative company to be established in 2023.
In later stages of the project, the company plans to expand the technology to Nordic and other EU countries that support sustainable agriculture.
As mentioned above, we have already developed a biomethane and electricity-powered tractor, the AUGA M1. The first production batch of three tractors is currently being tested in real farm conditions for the second season.
The AUGA E1 multimodal motorized is a new technology we are developing. Combined with a range of standard and our bespoke equipment, the AUGA E1 will be able to carry out all major farm tasks together with the AUGA M1. Initial on-farm testing of the AUGA E1 is due to begin later this year.
These technologies will eliminate the use of fossil fuels in agricultural machinery and replace them with renewable energies such as biomethane and green electricity produced in Lithuania, increasing farm productivity and economic performance. Tractors are used in agriculture around 100 days a year, while the rest of the time the batteries bring additional economic benefits through power storage and grid balancing. As electricity is a significantly cheaper energy source for tractors than diesel, the operating costs of the tractors can be significantly reduced. Using the technologies developed by the company not only reduces emissions, but also reduces production costs for farmers.
The feed production and feeding technologies we are developing include centralized sustainable feed production and supply, automated feeding, and the use of artificial intelligence to comprehensively and scientifically monitor and reduce greenhouse gas (GHG) emissions such as methane during milk production.
Not only will this technology improve the economic indicators of livestock farms, it will also make it possible to produce 1 litre of raw milk with less than 1 kg of CO2.2e-emissions.
“With our technology we are tackling the global challenge of feeding 10 billion people in the future while reducing agricultural emissions by a third. The success of the 'Generic Mission' project will generate immeasurable benefits not only for the world but also for AUGA's shareholders who believe in our long-term strategy,” says Kestutis Jusztius.
contact address:
CEO of AUGA Group
Elina Hodkaite Barauskienė
+370 5 233 5340
