Investment holding firm Premiere Horizon Alliance Corp. (PHA) has unveiled a plan to venture into the agriculture technology space as a means to contribute to countryside development.
In a disclosure to the Philippine Stock Exchange on Friday, PHA said it would pursue agritech through subsidiary PH Agriforest Inc., which in turn would ride on the financial technology (fintech) expertise of its new partners, the principals of SquidPay Technology Inc.
This venture is seen to harness technology in agriculture, forestry and aquaculture to maximize yields and efficiency.
“Instead of traditional agriculture practices, PHA will utilize proven agritech methodologies that focus on comprehensive data collection, analytics and models, and other technological innovations which seek to achieve faster planting, better harvest, lower production cost and optimized market acceptance of products,” the disclosure said.
The proposed projects of PH AgriForest are envisioned to involve large tracts of land initially focused on food production, rubber and bamboo plantation.
PHA said this unit would also embark on organic fertilizer production that would promote sustainable farming in conjunction with the various programs of the Department of Agriculture.
This entry into the agritech sector, PHA said, was in line with its vision of countryside development through pioneering technologies and innovative business models.
“Beyond profitability, the company subscribes to the triple bottom line philosophy of sustainable business with positive social and environmental impact,” it added.