Swedish Ekobot AB, which has developed an agricultural robot that can both remove weeds and collect data on crops, has just announced that it has signed another contract for the commercial sale of its WEAI agricultural machine.
A Dutch customer has just placed an order with Ekobot worth approximately SEK 450,000, and is now joining a small existing but growing customer group. A Swedish customer signed an agreement with Ekobot in August worth approximately SEK 750,000. Both agreements are for delivery in the 2023 growing season.
With approximately SEK 1.35 million in value from the two deals, Ekobot, with only 2 customers, has an order book equivalent to more than 10% of the company’s market value. The stock is down 78% to date, and has shown no reaction to the otherwise good news about commercial sales. The coming period is very important for Ekobot, as further sales and the delivery of functional robots are expected to have an impact on the share price. In addition, the value of the company’s product will be cemented in the market as soon as existing customers place orders for more robots.
Share price development year to date