Periodic Reporting for period 1 - Crux Agribotics (Crux Agribotics: The future of cucumbers harvesting - robot for automated agriculture labors)
Reporting period: 2017-08-01 to 2017-11-30
Commercial results: 1) global cucumber surface counts on 257,000HA; while high-tech greenhouses represent 2,179HA, where high-wire cultivation surface reaches 719HA. 2) Crux Agribotics obtainable cucumber market cumulative surface expected at 2,033HA in the long term. 3) Global high-wire cucumber growing in high-tech greenhouses reaches €318M; where cucumber harvesting market value reaches €133M, and packaging of €58M. 4) For commercial deployment, we have selected target areas starting by Europe in high-wire cucumber expanding to traditional greenhouses.
Financial results: Crux Agribotics will sold as CAPEX system priced between €120,000-€160,000/harvesting robot, and €500,000-650,000€/grading, sorting & packaging robot; price depending on system configuration. In a 5-years commercialization: we are expecting 22% cumulative market share; Selling 5 harvesting robots by 2020 and 120 units by 2024; 5 packaging robots by 2020 and 25 units by 2024; generating revenues of €31.7M cumulative EBITDA of €21.9M and ROI of 5.13; with required investment of €2,126,432.
Harvesting Process Models rely on the manual process in open-field without a greenhouse or low-tech simple nets. This process only lets growers increase in capacity by expanding in m² or by adding more employees. Thus, these methods offer neither growth control nor productivity increase, and yield is highly dependent on human factors. Nevertheless, there are other alternatives featuring technology which are high-tech or high-wire methods equipped with advanced systems of ventilation, water and electricity. These are the most advanced technologies nowadays and offer growing with the largest potential in terms of productivity per surface and quality. Thus, they are labor intensive and require additional attention on the greenhouse state and available services (more labor costs/m² & less labor costs/cucumber). Currently, there are no existing robotic alternatives to current crops harvesting process models, as many are in the R&D development stage and none of them are implemented in the agriculture market. There are no working prototypes having industrial speeds & reliability resulting in financially attractive harvesting machine. Packaging Process Models rely on technologies being implemented to automate crops packaging. However, it is yet to be fully automatic, as it still relies on human intervention, during grading & sorting for some existing solutions, or packaging for others. This not only implies that persons manning sorting machines are obsolete, but the actual sorting machine and its associated costs for usage also become fully obsolete. Crux Agribotics Steps up Current Cucumber State-of-the-art offering growers flexibility of product variety and capacity.