The companies aim to offer digital technologies for the agricultural sector from a single source in the future
The new joint venture company will be based in Cologne, Germany. (Credit: Hans Braxmeier from Pixabay)
BASF Digital Farming has reached a 50:50 joint venture agreement with Bosch, an international technology and service company, to offer smart farming solutions.
Through the joint venture, the companies aim to offer digital technologies for the agricultural sector from a single source in the future.
The agreement, which was signed on 10 November, will lead to the formation of a new company based in Cologne, Germany in the first quarter of 2021.
The establishment of the new company is subject to the approval of the relevant antitrust authorities.
The financial details of the agreement have not been disclosed by both the companies
To the joint venture, Bosch will contribute its hardware, software and digital services for planning and decision making in field crops.
BASF brings its xarvio Digital Farming Solutions to joint venture
BASF Digital Farming will bring its xarvio Digital Farming Solutions to the joint venture, offering an automated, real-time, field specific agronomic decision-making engine for weed management.
BASF Agricultural Solutions division president Vincent Gros said: “Both companies are committed to investing time, resources and funding in joint activities that will lead to the development of new sustainable precision technologies that improve agricultural practices and outcomes.”
The first product, which is planned to be released through the joint venture, will be a version of the Intelligent Planting Solution (IPS) system, with improved digital intelligence for seeding and fertiliser prescriptions.
The second product will be the Smart Spraying that integrates Bosch’s camera sensor technology and software with xarvio’s crop optimization platform.
According to the joint venture partners, the two products have been tested extensively in real growing conditions.
The Smart Spraying solution is expected to be released with a limited number of machines in 2021.
In July this year, BASF Venture Capital has invested in SmartAHC, a startup with expertise in artificial intelligence for animal husbandry.