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0IR4 Auga Group Ab

0.50
0.00 (0.00%)
10 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Auga Group Ab LSE:0IR4 London Ordinary Share LT0000127466 AGROWILL GROUP ORD SHS
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.50 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Farm-prod Raw Matl-whsl, Nec 81.41M -17.84M -0.0770 -6.49 115.87M

AUGA group, AB announced confirmed results of feed technology testing – 32% lower methane emissions per litre of raw milk

29/11/2023 6:59am

GlobeNewswire Inc.


Auga Group Ab (LSE:0IR4)
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AUGA group, AB announced confirmed results of feed technology testing – 32% lower methane emissions per litre of raw milk

AUGA Tech, UAB (hereinafter – the Company), an indirectly owned company of AUGA group, AB, is developing a specialised feed technology aimed at reducing methane emissions from cows' digestive processes. The Company has been testing the technology for the last 2 years. It has been shown that the technology enables an increase in the milk yield with no impact on the milk’s quality and a reduction of the methane emissions from cows' digestive processes by 32% per litre of raw milk. The test results were evaluated by scientists from the Veterinary Academy of the Lithuanian University of Health Sciences (hereinafter – LSMU VA) who confirmed their validity.

"According to the United Nations Food and Agriculture Organization, 14.5% of global emissions are due to livestock activities. Our own annual emissions calculations show that cattle digestion processes generate about 25% of all emissions at the companies the group owns. For that reason, 2 years ago we set out to tackle this problem and today we can proudly announce a significant achievement in the portfolio of technologies we are developing: we have proven that the prototype of the specialised feed technology works", says Kęstutis Juščius, the Chair of the Board of AUGA group, AB.

The Company carried out laboratory and feeding tests in collaboration with LSMU VA to assess the nutritional properties of the feed technology and its impact on cows' production of milk, the quality of the milk, and methane emissions per unit produced. The results of the testing were assessed by comparing the group of cows receiving the new feed with a group fed standard feed.

"According to the conclusion of the expert evaluation of the LSMU VA scientists, the results and conclusions of the Company's study are clear, well-founded and in line with the intended aim and objectives. The results of the tests show that the technology has big potential and could significantly contribute to reducing emissions in the agriculture sector. We are delighted with this partnership of business and science, which gives the technology credibility and makes it possible to envisage further steps in its future development," says Ramūnas Antanaitis, a professor at LSMU VA.

Kęstutis Juščius, Chair of the Board of AUGA group, AB, says, the specialised feed technology will prove to be a breakthrough in reducing emissions from livestock farming, not only at AUGA group, AB’s companies with farming activities, but in agriculture as a whole, as the plan is to commercialise the technology in the future.

"Since the test results have shown that the technology is effective at the prototype level, the next step is to develop it for production on a large scale. For that purpose, we are developing other innovations that will allow us to employ the technology in all of the group’s companies that have livestock activities. We will start implementation in 2024. And in the future, we also plan to commercialise the technology," says Kęstutis Juščius, the Chair of the Board of AUGA group, AB.

AUGA Tech, UAB is a company indirectly owned by AUGA group, AB, which develops and produces emission-reducing agricultural technologies. The company is developing biomethane infrastructure, the "AUGA M1" hybrid biomethane-electric tractor for professional use, and other agricultural machinery. In 2023, the Company has been testing the first production batch of tractors in preparation for mass production of them. The Company is also developing specialised feed technologies for reducing methane emissions from livestock.

Contacts: Chair of the Board of AUGA group, AB Kęstutis Juščius  +370 5 233 5340

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