Scottsdale, AZ, October 1, 2019 — AgJunction Inc. (TSX: AJX), the Autosteering Company™ (“AgJunction”), announced it has been awarded a new U.S. patent entitled “Using Optical Sensors to Resolve Vehicle Heading Issues.”
This new patent describes a system that fuses weighted data from multiple sensors to determine a vehicle’s heading, monitor speed and distance traveled while continuously generating visual drift corrections. The weighting of the data is based on operating conditions of the vehicle, which is then stored and later updated for optimum farming in the future.
“One of the key elements of vehicle control automation is the use of multiple sensors, which are required for enabling the hands-free control of farm machinery,” said Bob Barjesteh, vice president, M&A, IP and general counsel for AgJunction. “Critical to this technology advancement is the ability to properly fuse the multi-sensor data to increase the accuracy of data analysis. This new patent provides a solution to the way sensors talk to each other to make sure the best quality data is used to steer a vehicle. We expect to have many more sensor fusion patents issue in the future.”
M. Brett McMickell, COO of AgJunction, commented: “Receiving this sensor fusion patent is another important addition to our robust IP portfolio, which allows us to provide some of the most innovative autosteering components on the market. As vehicle autonomy becomes a necessity in agriculture, this patent further enables multiple sensors on farming equipment to process steering data as accurately as possible. We look forward to utilizing this important technology as we continue to develop state of the art autosteering solutions for our indirect and direct sales channels.”
Since 2016, AgJunction has added 75 new patent matters with 17 new patents issued. The company currently holds approximately 200 precision agriculture patents and pending patents worldwide.
AgJunction Inc., the Autosteering Company™ is a global leader of advanced guidance and autosteering solutions for precision agriculture applications. Its technologies are critical components in over 30 of the world’s leading precision Ag manufacturers and solution providers and it holds approximately 200 patents and patents pending. AgJunction markets its solutions under leading brand names including Novariant®, Wheelman™, Whirl™ and Handsfreefarm® and is committed to advancing its vision by bringing affordable hands-free farming to every farm, regardless of terrain or size. AgJunction is headquartered in Scottsdale, Arizona, and is listed on the Toronto Stock Exchange (TSX) under the symbol “AJX.” For more information, please go to AgJunction.com.
This press release contains forward-looking information and forward-looking statements (collectively, “forward-looking information”) within the meaning of applicable securities laws and is based on the expectations, estimates and projections of management of AgJunction as of the date of this news release, unless otherwise stated. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information. These statements are only predictions and actual events or results may differ materially. Although the Company’s management believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, performance or achievement since such expectations are inherently subject to significant business, economic, competitive and political uncertainties and contingencies. In particular, forward-looking statements in this press release include, but are not limited to statements with respect to: the Company’s vision with respect to autosteering for farmers and the expectation that regular updates will be pushed out to the app ensuring farmers can always operate their Wheelman products with the most up-to-date technology. Accordingly, readers should not place undue reliance on such forward-looking information contained in this press release.
In respect of the forward-looking information, AgJunction has provided such information in reliance on certain assumptions that it believes are reasonable at this time, including, but not limited to, the sufficiency of budgeted capital expenditures in carrying out planned activities; that AgJunction’s future results of operations will be consistent with management expectations in relation thereto; availability of key supplies, components, services, networks and developments; the impact of increasing competition; conditions in general economic, agricultural and financial markets; demand for the Company’s products; and the continuity of existing business relationships.
Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to the risks associated with the industries in which AgJunction operates; competition; inability to introduce new technology and new products in a timely manner; legal claims for the infringement of intellectual property and other claims; negative conditions in general economic, agricultural and financial markets; and reduced demand for the Company’s products. Readers are cautioned that the foregoing list of factors is not exhaustive.
Additional information on other factors that could affect the Company’s operations or financial results, are included in reports of AgJunction on file with applicable securities regulatory authorities, including but not limited to, AgJunction’s Annual Information Form which may be accessed on its SEDAR profile at www.sedar.com. The forward-looking information contained in this press release is made as of the date hereof and AgJunction undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Jeff Morris, Corporate Communications, AgJunction
Gateway Investor Relations
Cody Slach, Managing Director