African Agriculture Holdings Inc.
AAGRW
NASDAQ Global Market0.01
USD
+0.00
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African Agriculture Holdings Inc.
AAGRW
(NASDAQ Global Market)
Recent
price
0.01
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- African Agriculture Holdings Inc. (AAGRW) operates as a holding company focused on commercial farming, fishery logistics and management, and carbon offset production in Africa, primarily through its subsidiary Les Fermes de la Teranga SA, which develops and sells alfalfa for cattle feed and nutrition purposes from a farm in northern Senegal. The company produces high-value animal feeds, including alfalfa from its initial 750 acres under cultivation with plans to expand to nearly 50,000 acres; it emphasizes sustainable practices such as crop diversification, rotation, optimized seed application, and reduced water and fertilizer usage to enhance soil quality, yields, and cost efficiency. Operations target the dairy and beef cattle sectors, serving local African markets and international demand, with additional focus on grains and animal proteins amid rising urban population needs. Founded in February 2021 and headquartered at 445 Park Avenue, New York, New York, the company maintains its primary farm in Richard Toll, Saint-Louis, Senegal, and conducts business across West Africa, including nine ECOWAS countries, with export reach to Asia. African Agriculture Holdings Inc. functions as a subsidiary of Global Commodities & Investments Ltd. and lists warrants on OTC Markets under AAGRW, with common stock under AAGR on Nasdaq. Recent developments include the completion of a business combination with 10X Capital Venture Acquisition Corp. II in December 2023, resulting in a name change to African Agriculture Holdings Inc. and Nasdaq listing to tap the $21 billion global alfalfa market. In February 2024, Michael Rhodes joined as CEO, driving an enhanced vision for sustainable agriculture expansion and product diversification. The company entered a multi-year supply agreement in January 2024 with South Korea-based Dr. Kahn for alfalfa from 700 hectares, boosting projected revenues for 2024 and 2025.