Start-up opens factory
Facility will be first of many
A TOOWOOMBA ag-tech start-up officially opened the first of several new factories yesterday.
Direct Injection Technologies provides a water-based supplement solution for farmers who traditionally use licks for supplements.
CEO Mark Peart said the Meringandan facility was one of several factories that would be opened in the next year.
“In January we’ll be opening one in Townsville and Darwin,” he said.
“We’ve started to manufacture equipment here in Toowoomba to ship to those factories up there.
“We’ll also be opening a factory in Perth and another in Melbourne.”
The rapidly expanding Toowoomba-based business’ technology allows all cattle to access the supplements they need, with algorithms deciding how much medication the animal needs as it goes to drink the water.
The conventional method of supplementing cattle and sheep is labour intensive, inaccurate and expensive, costs upwards of 40 cents an animal a day.
“We can cut costs on feed by 80 per cent,” Mr Peart said.
“If farmers a spending a million on feed, with us, they’ll only be spending $200,000.”
The business has currently running a crowdfunding initiative, where anyone can invest in the company.
“We’re the first ag-tech company to crowdfund,” Mr Peart said.
“We’re excited for the sheer opportunities that allows.”
Mr Peart said the company, at its heart, was about supporting farmers.
“There is so much work to do with this expansion, so much responsibility,” Mr Peart said.
“I am excited to add value to farmers, to do something that really can make a difference to farming and food security and keeping Aussie farms the best in the world. That’s the core of what I'm about.”
The business will host a crowdfunding information session on November 23 at Blank Space, from 6.30pm.