AGCO - AGCO announces 2.9% equity investment in Greeneye Technology

AGCO (NYSE:AGCO) has made a 2.9% equity investment in Greeneye Technology, which specializes in smart farming solutions for precision spraying. Greeneye uses artificial intelligence and deep learning technology to transform the pest control process in agriculture. Its proprietary AI-enabled precision spraying system is said to detect and spray individual weeds, which is designed to significantly reduce herbicide usage compared to standard broadcast spraying. AGCO's CEO Eric Hansotia commented, "Our investment in Greeneye Technology complements AGCO’s farmer-first strategy, which has been designed to deliver industry-leading smart farming solutions that improve our customer’s net farm income."

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AGCO announces 2.9% equity investment in Greeneye Technology