AVALVE announced that it signed an agreement with Lotte Construction on October 19, 2023.
This partnership emerged following AVALVE’s participation in the “2023 Public-Private Partnership Open Innovation Support Project Demo Day.” The event, hosted jointly by the Ministry of SMEs and Startups, the Korea Institute of Startup and Entrepreneurship Development, and the Daegu Creative Economy Innovation Center on August 3, 2023, spotlighted AVALVE’s innovative solutions. AVALVE’s contribution to Lotte E&C’s initiative, ‘Development of a Smart Farm Service Platform Applicable to Apartment Housing,’ earned acclaim for its marketability, profitability, and product feasibility. This recognition culminated in AVALVE securing the Minister of SMEs and Startups Award.
The collaboration entails introducing an AI-powered smart farm platform within Lotte’s residential environments. This setup allows inhabitants to cultivate effortlessly and trade crops utilizing AVALVE’s smart farming technology. Through this, residents can embrace a community-centric culture, indulge in hobby-driven activities, obtain safe and home-grown produce, establish an eco-conscious living space, and offer the less privileged an opportunity to engage in productive endeavors.
AVALVE’s CEO, Lee Won-jun, expressed enthusiasm for this joint venture. He stated, “Our collaboration with Lotte Engineering & Construction aligns with our commitment to ESG values, driving innovation in the construction sphere and fostering symbiotic growth across industries. We’re poised to extend our AI-infused smart farm solutions to a broader clientele in the future.”
Furthermore, in October, AVALVE fortified its global presence by inking a business deal with River Kwai Medicinal Plants Co., Ltd., a prominent Thai medicinal cannabis farm enterprise.AVALVE fortified its global presence by inking a business deal with River Kwai Medicinal Plants Co., Ltd., a prominent Thai medicinal cannabis farm enterprise. This agreement centers around providing top-tier software and automated smart farming solutions tailored for Thai medical cannabis (HEMP) production.
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