Level39 member, Sensonomic, lands agreement with Europe’s leading olive oil producer
9th April 2020
Sensonomic will work with the leading European olive oil producer Innoliva to increase the value of their high quality organic and conventional olive oil production.
“Innoliva is a data and evidence driven business, and Sensonomic is offering a new way of delivering actionable insight. We are committed to continuously improving our operations, and the collaboration with Sensonomic enables us to test a novel approach to decision making in agriculture”, says Jorge Pena, President & CEO of Innoliva.
“Working with best-in-class and innovative producers is the best way of showing what our technology can offer. Innoliva is already achieving much higher yields than other producers, and by adopting our technology we anticipate a further increase in sustainable profitability” says Sensonomic CEO Anders Gundersen.
Sensonomic’s proprietary technology combines information from their clients’ own operations with external sources such as weather predictions and satellite data. This is then run through millions of computational simulations, providing farming operations with access to validated predictive and prescriptive insight. The results can be used to increase the proportion of yield sold in the futures market, improve efficiency of harvesting efforts and logistics, and ultimately by keeping mills operating at optimal capacity.
“By going deep into operations we can also untangle the obstacles agriculture face with getting access to credit and insurance. We are also aligning incentives between operations and supply chain certifications, effectively giving our clients an opportunity to provide a validated and reliable self-audit of environmental footprint”.
The project is scheduled to last for two full harvest cycles, and the collaboration is made possible through financial support from Innovation Norway, the Norwegian government’s instrument for supporting new technology development and applications.
“ Agriculture has long been under pressure to become more data driven. The early adopters are making significantly higher profits in a more sustainable manner than their competitors. We also know that access to manual labour will become more limited under negative shocks such as the current Covid-19 pandemic, and the future of agriculture is to adopt technologies that truly enable adaptation to both positive and negative shocks” says Gundersen.
Sensonomic is an English-Norwegian agritech company based out of Level39 Technology Accelerator in London’s Canary Wharf. The company develops technology to future-proof farming in a changing world, whilst providing the necessary input for the global insurance and financing services.
The company’s mission is to provide actionable insight for adaptive agriculture. The company works closely with leading academics at the University of Oxford, and is working with the United Nations, leading agribusinesses, and governments to achieve profitable production and resilient food systems.
Contact:
Anders Gundersen, Founder and CEO
UK: 07502 122 575
anders.gundersen@sensonomic.com
Innoliva is one of the largest privately held producers of olive oil. With 7,000 hectares of high and super high density olive oil production in Spain and Portugal, the company produces around 9,000 tonnes of olive oil annually.