Abaco Group seeks to further increase its commitment and investment in the U.K. market across both the public and private sectors
London, 08 March 2023 Abaco Group, a European leading Agri-tech company and provider of software solutions for the management and improvement of traceability, productivity and sustainability in agriculture, is pleased to announce the establishment of its U.K. subsidiary, Abaco(UK) Limited.
As the company seeks to further increase its commitment and investment in the U.K. market across both the public and private sectors at a time of exceptional growth in the Agri-tech sector.
Abaco have signed a contract for an office in Reading which will serve as the company’s U.K. headquarters.
Abaco already plays a key role in the UK’s agricultural sector, working to technically support institutions such as the Department for Environment, Food and Rural Affairs (DEFRA), various Agri-tech research bodies and commercial companies.
Abaco also operates across the EU with a focus on digitising functions within the supply chain to increase competitiveness and ensure the environmental sustainability of the sector. The UK market already accounts for over a third of the Group’s business operations. Abaco’s market leading technology solutions will enable farmers and land owners to accelerate the technology transition in agriculture and innovatively address key issues such as water shortages, soil quality and crop yield.
Abaco’s tools include an open platform to support the integration of data and imagery, AI analytics, IoT devices, hyperlocal weather data, and satellite imagery. Indeed, Abaco is able to utilise satellite imagery to enable farmers to better understand the topography of their farms to help boost production and work with the natural geography of the land for more sustainable long-term production. In this context, Abaco offers a specialised software package for agri-insurance covering risk and damage assessment, supply chain management, sustainability with a focus on water use and pollution, and land investment KPIs. Through its software, the company also supports wine producers by helping to forecast grape yields, which is of increasing relevance in the U.K., as the number of vineyards continues to increase. These solutions have a positive impact on the retail customer who is able to trace and check the sustainability of the final product.
Worldwide, the company has over 100,000 users on its platforms and coveres over 50,000,000 hectares of agricultural land. With the agricultural sector so vulnerable to climate change, Abaco operates within the framework developed by the United Nations 2030 Agenda and its Sustainable Development Goals (SDGs). In order to make the sector more resilient and better prepared to respond to extreme climatic
events and Phytopathological threats, data and new technologies that bring precision and insight to farming without the need for continued use of chemical products, are essential to preserve the quality and quantity of production.
Antonio Samaritani, CEO of Abaco Group, said: “We are delighted to announce the opening of our U.K. office, and to further strengthen our presence in the U.K.
We pride ourselves on innovation in order to support the agricultural sector, and look forward to continuing our commitment to the U.K. market and increasing our investment to further support stakeholders in the agricultural sector as well as the U.K. government as it continues to develop its agricultural policies after the withdrawal from the European Union.”
Abaco has over 30 years’ experience in land management and software development and has been majority-owned by Taste of Italy, an Italian fund specialising in the agribusiness sector managed by DeA Capital Alternative Funds SGR, since 2019. With a strong focus on innovation, the company is a long-standing and trusted partner within the agricultural industry of both public and private entities looking to meet the challenges of sustainable development of traceability and productivity on a daily basis. Abaco was chosen by the U.K. government to develop the platform for managing subsidies under the European Union’s Common Agricultural Policy (CAP).
In 2021 ABACO was included in the Company Evaluation Matrix (overall market) in the report Food Traceability Market – Global Forecast to 2025 as one of the “Emerging Leaders”. In 2022, ABACO was also featured in the Remote Sensing Services Market – Forecast to 2027 report among the companies that are part of the competitive scenario close to “Responsive Companies”.
In 2021, Abaco joined the Private Sector Guiding Group, which seeks to engage some of the key private sector players in the preparation of the United Nations Food System Summit. The Group’s headquarters are in Mantua, Italy,