- Deveron (FARM) has signed new enterprise contracts worth $9.5 million
- The first contract involves tissue sampling and pesticide analysis
- The second utilizes the company’s expertise in data collection and measuring agricultural carbon in soil
- Deveron is an agriculture technology company dedicated to increasing yields, reducing costs and improving farm outcomes
- Deveron (FARM) is up by 2.86 per cent, trading at $0.36 per share
Deveron (FARM) has signed new enterprise contracts worth $9.5 million.
The first contract – via subsidiary A&L Canada Laboratories – focuses on tissue sampling and pesticide analysis with a value of $4 million over 2 years.
“We believe tissue and pesticide analysis are important market opportunities across North America,” stated David MacMillan, Deveron’s President and CEO. “This win by our team at A&L is confirmation of the growing market opportunity. Furthermore, as we continue to expand our U.S. presence, we believe the proprietary process and methods developed at A&L can be implemented within our other laboratories, which will create further new market opportunities.”
The second contract enlists Deveron’s vertically integrated soil ecosystem of data collectors and soil labs to measure agricultural carbon in soil. It has a value of $5.5 million over 3 years, including $2.7 million in 2023, and will expand the company’s Midwest presence to Montana and Wyoming.
“Whether focused on measuring carbon or using agricultural data to increase yield and quality, Deveron’s vertically integrated soil ecosystem is becoming the clear choice for insights and benchmarking,” added MacMillan. “Deveron’s regional expertise and execution are the backbone of our company, coupled with best-in-class laboratory analysis and information, creating a turn-key and unique experience for our customers.”
Deveron is an agriculture technology company that helps farmers and large agriculture enterprises increase yields, reduce costs and improve farm outcomes.
Deveron (FARM) is up by 2.86 per cent, trading at $0.36 per share as of 10:08 am EST.