14 October 2024, 11:01
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Saluzzo (CN), 14 October 2024 – eVISO S.p.A. (simbolo: EVISO) – COMMOD-TECH company, listed on the EGM, with a proprietary artificial intelligence infrastructure that operates in the raw materials sector (electricity, gas, apples) – announces that it has signed a partnership agreement with Seed Group, a company of The Private Office of Sheikh Saeed bin Ahmed Al Maktoum, in order to scale up its proprietary platform SMARTMELE, a trading place for the exchange of containers of fresh apples with delivery in the future, on a global scale, starting from the Gulf countries.
SMARTMELE is the only international platform dedicated to the exchange of containers of apples with forward delivery. Currently, it is also the only international platform that publishes an apple price index.
It is reported that in 2024, the fresh apple market has reached a global turnover of over 100 billion dollars. Apple production plants are renewed every 15 years, requiring an annual investment of about 8 billion dollars to maintain current production levels. The expansion of apple production and consumption in Africa and Asia, countries where the market is still residual, could require up to an additional 10 billion dollars per year[1].
The contract signed between eVISO and Seed Group, a company of The Private Office of Sheikh Saeed bin Ahmed Al Maktoum, includes the following activities:
- the creation in Dubai of one or more corporate vehicles, 100% owned by eVISO, necessary to valorise the assets relating to SMARTMELE, currently owned by eVISO;
- as an alternative to the previous point, the creation in Dubai of one or more corporate vehicles necessary to carry out international trading operations of apple containers in a streamlined manner;
- developing networking, marketing, and sales activities to significantly expand SMARTMELE’s business in the UAE, Saudi Arabia and Gulf countries.
The international expansion will be led by two highly caliber professionals, Davide Ferrero and Maurizio Liverani, who will work alongside Simone Bernardi, who will lead the project from December 2022 and has extensive experience in the reference supply chain.
Gianfranco Sorasio, CEO of eVISO, commented: “With this agreement SMARTMELE has laid the foundation to become one of the most important international apple trading platforms in the world. In July 2024, Dubai declared its intention to become the world’s leading fruit and vegetable hub. The P rivate Office of Sheikh Saeed bin Ahmed Al Maktoum, a company of a member of the royal family, is the region’s most significant partner. We will soon establish one or more corporate vehicles in Dubai that will allow EVISO on the one hand to enhance the SMARTMELE proprietary assets and on the other hand to carry out apple trading operations with global partners in a simplified and agile way. In the next few months, we will start with Seed Group‘s sales and marketing activities towards large consumers of apples (GDO, traders, importers, buyers etc.) in order to transfer a share of the Gulf countries market to SMARTMELE, a market currently estimated at over €400 million per year. I am convinced that the SMARTMELE technology, with the influence and expertise of the Seed Group and the international ambition of the United Arab Emirates, form for the SMARTMELE project a set of extremely solid competitive advantages that are difficult to replicate on a global scale.”
Hisham Al Gurg, CEO of Seed Group and The Private Office of Sheikh Saeed bin Ahmed Al Maktoum conveyed his enthusiasm on the recent partnership. He said: “We are pleased to collaborate with eVISO as they introduce their latest AI-driven SMARTMELE platform to the MENA region.” Al Gurg continued, “We are positive that this alliance will bring unprecedented value and optimised operational efficiency to buyers and traders in the fresh produce market. As the UAE advances its agritech and trade sectors, it won’t be long before we witness the strong impact of SMARTMELE’s unique value proposition in the region.”
The agreement has a three-year duration, and the activities covered by the contract are remunerated annually through a variable compensation determined on the basis of the volume of business limited to the Gulf countries.
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About Davide Ferrero
Advisor specialized in strategic positioning and business valuation according to the principles of Value Investing. Degree in Economics, with studies at Columbia Business School and Bocconi Business School. Chartered Accountant and Auditor.
About Maurizio Liverani
Entrepreneur, now angel investor and start-up advisor at Skydeck Europe (University of Berkeley). With 11 years spent in Silicon Valley, he holds a master’s and a doctorate in electrical engineering from Stanford University, where he founded Algotek Inc. (now Natus Medical Corp.) and Alcom Inc.
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The Smartmele brand, the smartemele.eviso.it platform and the underlying technology are owned by EVISO S.p.A.
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This press release is available in the Investor Relations section of the website www.eviso.ai.
For the transmission of Regulated Information, the Company uses the EMARKET SDIR dissemination system available at www.emarketstorage.com, managed by Teleborsa S.r.l. – with headquarters Piazza di Priscilla, 4 – Rome – following the authorization and CONSOB resolutions n. 22517 and 22518 of 23 November 2022.
[1] https://www.mordorintelligence.com/industry-reports/fresh-apples-market