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KORE Selected by Agriculture Technology Innovator BinSentry to Revolutionize Monitoring of On-farm Inventory

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Deploying KORE IoT connectivity and IoT solutions, BinSentry dramatically increases feed mills’ operational efficiencies by modernizing antiquated processes.

ATLANTA (Sept. 13, 2021) – KORE, a global leader in Internet of Things (IoT) solutions and worldwide IoT Connectivity-as-a-Service (IoT CaaS), today announced that BinSentry, an international AgTech company, has selected KORE as its IoT partner-of-choice to modernize time-worn measurement systems and drive operational efficiencies.

The two companies are enabling sectors of the agricultural ecosystem to innovate and leapfrog current methods, resulting in reduced costs, product waste, and time.

For decades, farmers have used a manual process to forecast the amount of feed they order. Still today, farmers bang mallets against the side of huge silos and place orders with feed mills based on the sound made by the strike, causing inaccurate forecasts and resulting in under-filling, over-filling feed transfers and late deliveries to bins. This traditional method tends to be expensive and wasteful because an information deficit exists.

An average feed mill services a range of 500 to 5,000 bins to deposit with feed on a weekly basis at farms around the world. The logistics of delivering feed requires good data so that mills can operate efficient production and supply chain processes.

“This is the ‘decade of IoT,’ and in many industries, like agriculture, healthcare, and fleet management, it’s an exciting time of exploration and innovation -- much like what I imagine the Industrial Revolution was like at the turn of the 20th century,” said KORE President and CEO Romil Bahl. “Through our work with BinSentry, we’re providing an IoT one-stop-shop to some of the most recognizable commercial outfits in the farming industry, resulting in data-powered delivery route optimization, accurate feed forecasting and ordering, and increased automation of the inventory tracking and ordering process. With access to a conduit of IoT connectivity, asset monitoring, and APIs, the average feed mill has the potential to save millions of dollars.”

KORE powers the BinSentry automated feed ordering platform with a single-source of reliable IoT connectivity that makes it easy for feed mills to gauge quickly and accurately in-bin feed levels on vast farms located globally. The feed mills then acquire and manipulate critical data streaming off of those bins in real-time via APIs so that they can plan their supply and delivery based on real-time data at the individual silo level.

Bringing efficiencies to on-farm inventory monitoring, ordering, and restocking with IoT technologies and analytics has an important knock-on effect. According to the U.S. Department of Agriculture, agriculture accounted for an estimated 10.5 percent of U.S. greenhouse gas emissions in 2018 of which feed deliveries are contributors. Farms and feed mills are already struggling with sustainable production on top of handling and organizing massive amounts of resources. With access to mission-critical information and data that is pulled from the IoT enabled monitors, feed mill trucks are able to deliver the right amount of feed at the right time to the right farm and travel between 15 percent to 25 percent fewer miles, significantly reducing the feed mills carbon footprint, reducing their labor needs and saving costs.

“BinSentry was founded four years ago to solve the information deficit that is a significant pain point in the relationship between feed mills and their farmers and growers,” said Randall Swartzentruber, founder and CEO, BinSentry. “Our goal with BinSentry is to close that information gap, and the best way to do that is with IoT connected devices sending accurate and reliable data to a comprehensive feed ordering automation software, enabled by the comprehensive and future-forward wireless networks being provided by KORE. Now, our feed mill customers can look at their dashboards and in real-time see exactly how much product exists in every single feed bin that they service, act proactively to manage demand and then plan accordingly. It takes only 15 minutes to install the IoT-powered sensors to solve a 40-year-old problem.”

Get details about BinSentry modernizing antiquated processes around on-farm inventory monitoring in this case study.

About KORE
KORE is a pioneer, leader, and trusted advisor delivering mission critical IoT solutions and services. We empower organizations of all sizes to improve operational and business results by simplifying the complexity of IoT. Our deep IoT knowledge and experience, global reach, purpose-built solutions, and deployment agility accelerate and materially impact our customers’ business outcomes. For more information, visit www.korewireless.com.

About BinSentry
BinSentry is an agricultural technology company developing an innovative Internet of Things (IoT) solution which enables feed mills and livestock producers to effectively monitor on-farm inventory, dramatically increasing operational efficiencies. Powered by solar and operating on low-power, long range networks, their cutting-edge solution installs in less than 10 minutes and delivers data to the cloud, reliably and without interruption. Equipped with a wealth of actionable insights that BinSentry's software delivers, BinSentry customers can automate ordering, prioritize production, and optimize the transportation of feed - eliminating feed outages while gaining more insight into animal performance. Reach out today, to learn about how BinSentry can revolutionize your business!

KORE Investor and Media Contact:
Jean Creech Avent
Vice President, Investor Relations and Public Relations
Phone: +1 843-986-8229
Email: jcreechavent@korewireless.com

Forward-Looking Statements
This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of revenue and other financial and performance metrics and projections of market opportunity and expectations. These statements are based on various assumptions and on the current expectations of CTAC or KORE’s management. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor or other person as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of CTAC and/or KORE. These forward-looking statements are subject to a number of risks and uncertainties, including general economic, financial, legal, political, and business conditions and changes in domestic and foreign markets; the potential effects of COVID-19; risks related to the rollout of KORE’s business and the timing of expected business milestones; changes in the assumptions underlying KORE’s expectations regarding its future business; the effects of competition on KORE’s future business; and the outcome of judicial proceedings to which KORE is, or may become a party. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that KORE presently does not know or that KORE currently believes are immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. In addition, forward-looking statements reflect KORE’s expectations, plans or forecasts of future events and views as of the date of this press release. KORE and CTAC anticipate that subsequent events and developments will cause these assessments to change. However, while KORE and/or CTAC may elect to update these forward-looking statements at some point in the future, each of KORE and CTAC specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing KORE’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Topic(s): Investors

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