EOS Data Analytics (EOSDA), a global provider of AI-powered satellite imagery analytics, is entering into a global partnership with Cambridge Technology Enterprises Limited (CT) and its subsidiary - CT Software Solutions Sdn Bhd, an enterprise software services provider focused on the development and management of AI, Cloud, and Data solutions across a broad range of sectors.
Malaysia today ranks among the top global suppliers of palm oil. In 2018 alone, it produced 20 million metric tons of palm oil, which accounted for 27% of the global supply. Palm oil is in very high demand worldwide being an essential ingredient used in a myriad of products spanning from pharmaceuticals to home care.
However, the crop's productivity greatly depends on timely and well-informed management decisions, and precision agriculture methods have not been properly implemented in regions like Malaysia and India. All of this justifies the need for applying modern satellite monitoring technologies in the cultivation of palm oil.
The primary goal that EOS Data Analytics and Cambridge Technology are planning to achieve together is the implementation of AI-powered satellite imagery analytics in two major industries of Malaysia and India - Agriculture and Forestry. These two verticals are to become the launching pad for a lucrative and beneficial partnership that may eventually explore such verticals as Energy, Oil & Gas, and a host of others.
Partners want to use this opportunity to introduce agricultural technology (AgriTech) to more countries, providing farmers and growers globally with satellite-driven solutions that would facilitate the entire production process, from seeding to harvesting. These solutions can make a huge difference in the amount of yield and profit available to the growers, while at the same time greatly reducing their efforts and saving time. And, among the future plans, is leveraging the EOS AgriSat data next year to combine the efforts in promoting sustainable agriculture for the benefit of humanity.
"We are delighted to enter into partnership with such a major provider of enterprise software services as Cambridge Technology and are looking forward to productive cooperation in agriculture and forestry sectors. Our main goal is to introduce the latest state-of-the-art precision agriculture tools and methods to as many farmers around the world as possible, increasing their yields and profits. Agtech is not the future, it is the present. And advancing this kind of tech around the globe is not only beneficial for the farmers but is an important step towards sustainable agriculture and a way to decelerate climate change," says Rim Elijah, VP of Sales at EOS Data Analytics.
Over the first half of 2021, Cambridge Technology has been successfully working with clients in the oil palm industry. Multiple POC tests have shown time and again the high demand for precision agriculture tools to monitor crops. With this in mind, EOS Data Analytics and Cambridge Technology are aiming to implement crop monitoring technology in Malaysia and India during the second half of 2021.
Satellite crop monitoring will cover an area of over 1.2 million ha in Malaysia and several hundred thousand ha in India. We also recognize the unique state of the agricultural sector in ASEAN and are ready to customize and adapt our solutions to the local needs.
"Agriculture modernization is the need of the hour and it has been very slow so far. Particularly for developing countries, modernization will help small, medium, and large farmers produce more with the help of technology and use the right Fertilizers and Pest Control more efficiently. Further, authorities will plan, advise and manage the required produce for the domestic markets and for export alike. In the event of a disaster, the authorities can quickly act to help farmers and develop a proper emergency plan. AgriTech and Modern Farming techniques and methods are required to be educated to all stakeholders - Farmers, Corporate Managers, Authorities, and Supporting Organizations," adds Mr. Naveen Kumar Yelloji, Director/CEO at CT Software Solutions Sdn Bhd.
EOS Data Analytics and Cambridge Technology are looking forward to playing their part in developing and promoting precision agriculture and forestry technologies. Both companies are also planning to discuss working with other verticals in the coming years.
Shares of Cambridge Technology Enterprises Limited was last trading in BSE at Rs. 54.90 as compared to the previous close of Rs. 56.55. The total number of shares traded during the day was 5677 in over 178 trades.
The stock hit an intraday high of Rs. 57.60 and intraday low of 53.60. The net turnover during the day was Rs. 312074.00.