AGCO has taken a stake in a firm specializing in AI precision equipment, according to a company press release.
AGCO announced the on Wednesday purchase of a 2.9% equity stake in Greeneye Technology, an Israel-based company specializing in AI-driven spraying equipment.
Greeneye’s system uses artificial intelligence to detect and spray individual weeds, with the goal of reducing herbicide usage. The company says the system is capable of identifying weeds down to the species level. That, in turn, can allow farmers to more effectively treat herbicide-resistant weeds that may show up in their fields.
The system is designed to work at speeds of up to 20 kilometers per hour (12 miles per hour), and designed to integrate with any brand or size of commercial sprayer.
“Our investment in Greeneye Technology complements AGCO’s farmer-first strategy, which has been designed to deliver industry-leading smart farming solutions that improve our customer’s net farm income,” said Eric Hansotia, AGCO’s CEO and Chairman.
