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Bosch and BASF Establish Joint Venture for Digital Technologies in the Agricultural Sector - Bosch and BASF Digital Farming have signed a 50:50 joint venture (JV) agreement to globally market and sell smart farming solutions from a single source in the future - Bosch.com / Xarvio.com / Agriculture.BASF.com
Bosch and BASF Establish Joint Venture for Digital Technologies in the Agricultural Sector

 

NewswireToday - /newswire/ - Stuttgart, Baden-Württemberg, Germany, 2020/11/12 - Bosch and BASF Digital Farming have signed a 50:50 joint venture (JV) agreement to globally market and sell smart farming solutions from a single source in the future - Bosch.com / Xarvio.com / Agriculture.BASF.com. DE000BASF111

   
 
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• Farmers to benefit from automated, agronomic digital solutions;
• Accelerated digital innovations foster precision farming, resource efficiencies and sustainability;
• First joint product to be released in Brazil, followed by Europe and North America;
• Reduced need for crop protection products in specific applications depending on local conditions.

The JV agreement was signed on November 10, 2020 and will be followed by the founding of a new company based in Cologne, which will be established in the first quarter of 2021. The foundation is subject to the approval of the relevant antitrust authorities. Both parties have agreed not to disclose financial details.

Bosch brings to the JV significant capability in hardware and software, as well as digital services for planning and decision making in field crops. BASF Digital Farming with its xarvio™ Digital Farming Solutions provides an automated, real-time, field specific agronomic decision-making engine for weed management that is powered by the digital xarvio platform for crop optimization. It provides farmers with field zone specific advice on how to produce crops in the most sustainable way. Combining the expertise of both companies, with state-of-the-art hardware and software solutions, will make it easier and more convenient for farmers to benefit from digital solutions.

Spraying and saving
“Thanks to connecting agricultural machinery using high-tech sensors, intelligent software and digital products, we can make tomorrow’s agriculture more efficient and at the same time more environmentally friendly,” said Andrew Allen, responsible for Commercial Vehicles and Off-Road Business at Robert Bosch GmbH. “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,” said Vincent Gros, President of BASF’s Agricultural Solutions division.

The first two products to be launched will be a version of the Intelligent Planting Solution (IPS) system, with enhanced digital intelligence for seeding and fertilizer prescriptions, and Smart Spraying. The Smart Spraying solution combines Bosch’s camera sensor technology and software with xarvio’ s crop optimization platform. Both products have been tested extensively in real growing conditions. Such innovative precision farming practices enable resource efficiencies supporting farmers and the environment.

Depending on the local conditions this may lead to a reduced need for crop protection products in specific applications. Smart Spraying shows up to 70 % herbicide volumes reduction in experimental stage. The solution is expected to be launched with a limited number of machines in 2021.

About BASF’s Agricultural Solutions division

With a rapidly growing population, the world is increasingly dependent on our ability to develop and maintain sustainable agriculture and healthy environments. Working with farmers, agricultural professionals, pest management experts and others, it is our role to help make this possible. That’s why we invest in a strong R&D pipeline and broad portfolio, including seeds and traits, chemical and biological crop protection, soil management, plant health, pest control and digital farming. With expert teams in the lab, field, office, and in production, we connect innovative thinking and down-to-earth action to create real world ideas that work for farmers, society and the planet. In 2019, our division generated sales of €7.8 billion. For more information, please visit or any of our social media channels

About xarvio Digital Farming Solutions, a brand name of BASF Digital Farming GmbH

xarvio (xarvio.com) is a leader in the digital transformation of agriculture to optimize plant production. xarvio offers digital products based on a world-leading plant model platform that provides independent field zone specific agronomic advice to help farmers produce their crops in the most efficient and sustainable way. The xarvio products SCOUTING, FIELD MANAGER and HEALTHY FIELDS are used by farmers in more than 100 countries worldwide.

About Bosch Group Mobility Solutions

Mobility Solutions is the largest division of the Bosch Group. In 2019, it contributed with 46.8 billion euros, accounted for 60 percent of operating sales. This makes the technology company one of the leading suppliers to the automotive industry. The Mobility Solutions division pursues the vision of safe, sustainable and inspiring mobility of the future and bundles its competencies in the domains of personalization, automation and mobility management. electrification and networking. The division offers its customers integrated mobility solutions. The main business areas are: Injection technology and auxiliary units for combustion engines as well as a wide range of solutions for powertrain electrification, vehicle safety systems, assistance and automation functions, Technology for user-friendly infotainment and communication across vehicles, workshop concepts as well as technology and service for the automotive trade. Important automotive innovations such as electronic engine management, anti-skid ESP, or common-rail diesel technology come from Bosch.

The Bosch Group (bosch.com) is a leading international technology and service company with some 400,000 associates worldwide (as of December 31, 2019). In fiscal year 2019, it generated sales of 77.7 billion euros. Its activities are divided into the four business sectors Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading provider in the Internet of Things (IoT), Bosch offers innovative solutions for Smart Home, Industry 4.0, and Connected Mobility. Bosch is pursuing the vision of sustainable, safe, and exciting mobility.

With its expertise in sensor technology, software and services, as well as its own IoT cloud, the company can offer its customers networked and cross-domain solutions from a single source. The strategic goal of the Bosch Group is to provide solutions and products for networked life that either have artificial intelligence (AI) or are developed or produced with their help. With innovative and inspiring products and services, Bosch improves the quality of life of people all over the world.

Bosch offers "Invented for life. The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiaries and regional companies in 60 countries. Including trading and service partners, Bosch’s global manufacturing, development, and sales network covers almost every country in the world. The basis for future growth is the innovative strength of the company. Bosch employs some 72,600 associates in research and development at 126 locations worldwide. The company employs some 30,000 software developers.

 
 
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Bosch and BASF Establish Joint Venture for Digital Technologies in the Agricultural Sector

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Publisher Contact: Nathan Quigley - Xarvio.com 
+49 151 5519 3566 nathan-sean.quigley[.]xarvio.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any BASF securities in any jurisdiction including any other companies listed or named in this release.

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