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Name of the Company: AUGA Group

Funding source: Private

Country: Lithuania

Description:

AUGA group is transforming agriculture and food industry for a net zero world. The group develops agricultural technologies, applies the sustainable farming model and standard, and produces more sustainable organic products. AUGA Group is developing a farming model based on innovative technologies, specialising in crops, dairy cows and mushroom growing, and produces a line of more sustainable organic products for end-consumers using raw materials from farms that apply AUGA sustainable farming standards. The group’s mission is "food with no cost to nature", and the group is pursuing this by implementing technological projects: the development of biogas-cycle infrastructure and biogas-powered vehicles. specialised feed technology; and regenerative crop rotation.

On 25th May 2023, AUGA presented the key principles of its new business model, and detailed the steps it intends to take to achieve its strategy goals more effectively. In line with its previous vision, AUGA plans to become a fully-sustainable, organic agri producer, which is willing to share its knowhow with other farmers, globally. A new company, AUGA Community, has been formed, comprised of three business units: AUGA Tech, AUGA SOFA, and AUGA Trade. This consolidates all its activities focused on developing, sharing and monetising the company’s products and services, based on the idea of sustainable, organic food production and a healthy lifestyle. The new business model should be introduced and tested first in Lithuania, this year. It should then be expanded abroad, to developed markets worldwide. In short, AUGA now aims to generate new income streams by sharing its knowhow, and also through capturing a higher margin by selling the final product, rather than raw commodities.

From now on, AUGA aims to focus on local food for local communities domestically, and also on sharing its knowhow with other parties willing to replicate the company’s model globally. During the presentation, CEO and founder Kestutis Juscius reiterated one of the company’s main goals: to provide opportunities to all farmers to use more sustainable technologies developed by the company, and help them to operate more efficiently and achieve higher profitability, by joining the new community led by the company. For consumers, AUGA presents an opportunity to choose affordable food with no cost to nature; and for investors, the chance to earn a financial return, with a positive impact on nature. There is significant potential value to be generated by AUGA as a hub, e.g., connecting small farmers and large institutions.

AUGA plans to introduce and test its new business model within Lithuania first, before inviting local farmers to join the initiative. Then it intends to expand abroad through the technology branch, the supply of climate-neutral raw materials, and branding.

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