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lincoln-agritech-limited

lightning_bolt Market Research

Lincoln Agritech Limited - Comprehensive Analysis Report



Summary


Lincoln Agritech Limited, a distinguished multidisciplinary research and development company and a wholly-owned subsidiary of Lincoln University, has been a pivotal innovator in New Zealand's primary industries and environmental sector since its establishment in 1964. Its overarching vision is to deliver trusted science and technology for a better world, fostering growth within the primary sector and communities while ensuring environmental protection. The company's mission is centered on crafting sustainable, real-world solutions for future challenges, championed by a commitment to diverse thought and expertise. Lincoln Agritech plays a vital role in advancing sustainable production, safeguarding water resources, developing natural materials, and spearheading initiatives against climate change.

1. Strategic Focus & Objectives


Core Objectives


Lincoln Agritech's strategic agenda is driven by a commitment to delivering cutting-edge research, science, and engineering solutions. The company aims to empower the primary sector and communities, facilitate growth, and protect the environment. Key objectives include actively pursuing strategic partnerships, fostering continuous growth, and solidifying its and Lincoln University's standing for world-class research, all while contributing significantly to its shareholder's strategic goals.

Specialization Areas


The company boasts expertise across several critical domains:
  • Digital & Precision Agriculture: Utilizing AI and advanced sensing technologies, including remote sensing, to analyze spatiotemporal variability in soils, crops, and animals, enhancing decision-making and fostering robotic solutions.

  • Water & Land: Conducting vital water-related research, particularly in understanding and measuring groundwater systems, and developing tools for managing groundwater quality, nitrogen impacts, and water allocation.

  • New Materials: Innovating high-value materials derived from biological sources such as coarse wool and plant-based cellulose, with a strong focus on commercial applications through industry collaborations.

  • GreenTech: Engaging in research on engineering-based solutions for methane mitigation and CO2 removal to combat global warming and support New Zealand's greenhouse gas reduction targets.

  • Sensing Technology: Developing smart sensing technologies for industrial and agricultural sectors to drive cost reductions, create new revenue streams, and improve operational decision-making, with core capabilities in electromagnetics and machine vision.

  • Biotechnology: Providing microbial biotechnology research and consulting services, including biocontrol strategies for disease management, plant growth enhancement in various agricultural systems, and comprehensive microbiome analyses.


Target Markets


Lincoln Agritech targets critical agricultural, industrial, and environmental challenges both within New Zealand and internationally. Its market positioning strategy is inherently forward-focused, emphasizing sustainability and breakthrough innovation to address pressing global issues.

2. Financial Overview


Funding History


Lincoln Agritech Limited, based in Christchurch, New Zealand, has a focused funding history. It raised funding over one recorded round, with its most recent being a Grant (prize money) round on January 1, 2024, securing $317,000. The European Union participated as an investor in this round. Other significant ongoing investors and funding bodies include the Ministry of Business, Innovation and Employment (MBIE) and the Science for Technological Innovation National Science Challenge, with the company securing substantial MBIE funding over time.

Under the leadership of former CEO Peter Barrowclough, the company experienced significant growth, expanding its staff from 35 to approximately 80 and increasing its turnover from $5.5 million to $15 million. Lincoln Agritech also made a Later Stage VC investment in CertusBio on September 8, 2021.

3. Product Pipeline


Lincoln Agritech is actively engaged in a robust research and development pipeline, focusing on commercialization and impactful real-world applications:

  • Smart and Functional Keratin Structures: This project involves the development of advanced biopolymer materials from wool keratin, aiming to create novel biologically-derived export products. It seeks to establish a new manufacturing sector with an estimated annual return exceeding $200 million by 2040. Applications include thermal control membranes, textile fibers superior to silk, and products designed for microbial release control in soil and ruminant boluses for greenhouse gas emission reduction. The project benefits from collaborative expertise from Lincoln Agritech, Harvard University, the University of Auckland, and AgResearch.

  • Novel Cellulose Fibres: This initiative is poised to revolutionize the global fiber industry by pioneering an environmentally low-impact method to extract cellulose from New Zealand native plants (such as harakeke, totara, and Pinus radiata) for the production of regenerated cellulose fibers suitable for textile manufacturing.

  • High-Pressure Water Weeding: In partnership with six New Zealand vineyards and the Ministry for Primary Industries' Sustainable Food and Fibre Futures (SFF Futures) fund, Lincoln Agritech is trialing waterjet weeding technology. This method aims to substantially reduce herbicide use in viticulture.

  • Sub-Surface Processes in Braided Rivers: Leading a five-year MBIE-funded project, the company seeks to deepen the understanding of how braided rivers and regional aquifers interact in terms of water storage and transport. The project, currently in its second phase and slated for delivery in June 2025, focuses on technological advancements for subterranean mapping and involves collaboration with the Waterways Centre at the University of Canterbury, regional councils, central Government, NIWA, and international partners.

  • Atmospheric Methane Conversion: The Green Futures Group is researching cost-effective catalysts to convert atmospheric methane into carbon dioxide or other value-added products under ambient conditions, a critical effort toward New Zealand's 2050 methane reduction targets.

  • STELLA Project (Horizon Europe): Lincoln Agritech is a collaborator in the STELLA project, which aims to develop a comprehensive digital system (STELLA PSS) utilizing modern sensing technology and artificial intelligence for the early detection and warning of regulated pests. The specific research focus in New Zealand is bull's eye rot (Neofabraea alba).

  • Long-term Climate Change Impacts on Water Quality: The Environmental Research Group has commenced a five-year study on the Waikato River to analyze how long-term climate changes influence water quality dynamics.

  • Soil Carbon Sequestration: Ongoing research is exploring the role of soil microbes in assisting New Zealand to achieve its 2030 Paris Agreement commitments regarding carbon sequestration.


4. Technology & Innovation


Technology Stack


Lincoln Agritech leverages a sophisticated array of advanced technological platforms and proprietary innovations across its research capabilities.

Proprietary Developments


  • IRRICAD™: A globally recognized computer software system for pressurized irrigation system design, utilized in over 90 countries and available in eight languages. Major irrigation companies, including Netafim, employ this software. Phil Dewar serves as the Lincoln Agritech GM for IRRICAD.

  • HydroMetrics: This nitrate-sensing technology, developed by Lincoln Agritech, resulted in the formation of an independent commercial entity, Hydro-Metrics Ltd, in July 2024. This move aims to advance New Zealand's optical nitrate monitoring business, with Lincoln Agritech retaining a significant minority holding and providing ongoing technical, research, and business support. HydroMetrics sensors are deployed globally, and Andy Matheson is its managing director.

  • Autonomous Pivot: Technology capable of sensing soil properties directly from irrigation pivots to provide real-time control. This technology is licensed to a US-based Israeli company, Autonomous Pivot, and has demonstrated up to 20% water savings for growers. Yuval Aviel is the CEO of Autonomous Pivot.

  • TDRI: A patented technology for sensing sub-surface moisture, which measures infiltration under road surfaces and provides predictive maintenance data. This is licensed to the New Zealand company TDRI. Matt McNeill is the CEO of TDRI Solutions.

  • CertusBio: Lincoln Agritech holds an approximately 25% shareholding in CertusBio, a spinout company established in 2015. Matt Jones is CertusBio's CEO.

  • Wool Source: A company founded by the Wool Research Organisation of New Zealand to commercialize transformative wool fiber research developed in collaboration with Lincoln Agritech.


Scientific Methodologies


The company employs a range of advanced scientific methods:
  • Electromagnetic Sensing: Utilized for precision measurements in diverse fields such as agriculture, medical imaging, industrial processing, and civil engineering.

  • Machine Vision (AI/Machine Learning): This involves extracting and visualizing actionable data from various sensors and designing custom neural networks for applications like detecting fruit growing environments and assessing bark and knots on logs during debarking.

  • Microbiome Analysis: Employed in biotechnology for gaining insights into soil microbial communities and evaluating product impact.

  • Electrochemistry and Data Analytics: Key methodologies utilized by the Green Futures group for developing sustainable solutions in agritech.

  • Microwave and Optical Sensors: Core expertise of the Green Futures group, providing wide-ranging solutions for agritech applications.


Technical Capabilities


Lincoln Agritech actively licenses its patented technologies and commercializes patent-pending technology, demonstrating a strong capability in intellectual property generation and commercialization of its research.

5. Leadership & Management


Executive Team


  • Professor Travis Glare, Chief Executive (Appointed November 2024): Professor Glare assumed the role of Chief Executive in November 2024. He is also a Professor of Applied Entomology at Lincoln University and holds positions as co-founder and Chief Science Officer of Biosouth Ltd and Managing Director of Agroceutical Products NZ Ltd. His expertise encompasses insect pathology, molecular biology, biopesticide development, and research commercialization. Previously, he directed the Research Management Office at Lincoln University and co-directed Bioprotection Aotearoa and the Bio-Protection Research Centre.


  • Bruce Gemmell, Chair of the Board: Bruce joined the Lincoln Agritech Board in June 2019 and became Chancellor of Lincoln University in January 2019. A chartered accountant and former senior partner at EY, he now serves as a professional director on several boards, including Planz Consultants Limited, Orion New Zealand Limited, and Central Plains Water Limited.


  • Armin Werner, Principal Science Advisor (formerly Group Manager, Precision Agriculture): Armin possesses extensive expertise in agronomy, crop modeling, and sustainable land use, with a specialization in novel agricultural production systems focused on digitizing and automating agriculture and forestry. He transitioned to the role of Principal Science Advisor at the end of 2024.


  • Joanne Hay, Group Manager, Sensing & Biotechnology: With a PhD in molecular biology, plant viruses, and crop resistance, Joanne has considerable post-doctoral experience. She leads the biotechnology team and is instrumental in securing major Government investment rounds and driving commercialization projects.


  • Anya Hornsey, Group Manager, Business Development & Marketing: Anya brings a strong academic background in intellectual property and business administration, coupled with experience in securing funding and commercializing technology across diverse sectors.


  • Phil Dewar, Lincoln Agritech GM (IRRICAD): Phil has over 30 years of experience in the design and development of specialized engineering software, particularly within the irrigation systems sector.


  • Ian Woodhead, Chief Scientist (stepped down to Emeritus Fellow in 2024): With more than 40 years of experience in sensor development, Ian's research
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