ESGFIRE portfolio company Ekobot secures patent for its tool system

Company: Ekobot
Listings: First North Sweden
Ticker: EKOBOT
Market cap at time of publication: 14,8 MSEK
Stock price at time of publication: 0,98 SEK
Business: Agtech farming robotics
Website: https://www.ekobot.se/

ESGFIRE comment:

ESGFIRE portfolio company Ekobot today (11/9 2023) announced that they have received notice from the European Patent Office (EPO) that their European patent for mechanial tool systems most likely will be approved. This news further strengthens the intellectual property and investment case for Ekobot and makes it harder for competitors to duplicate Ekobot's products withouth causing a patent intrusion.

This new patent is in addition to a previous patent which covers "the method itself, including the algorithms and software for controlling the tool system covered by the above patent. This means that Ekobot now has its core technology with the intelligent tool system for automated mechanical weed control protected by patents. A system that replaces both environmentally harmful pesticides and manual labor for weed control. The patents cover both the mechanical tool system for weed control and the algorithms and system that control this weed tool."

CEO Jonas Eklind commented  on the news
"– Ekobot works with innovative system and product development at a world-leading level. We also have a clear strategy to continuously strengthen our intellectual property protection around our technology, so it's pleasing that a central patent application now being fully granted"

In anticipation of the growing season of 2024 Ekobot intends to deliver robotic systems to their distributors and key customers primarily in Sweden and the Netherlands.

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