Scottsdale, AZ, September5, 2019 — AgJunction Inc. (TSX:AJX), the Autosteering Company™ ("AgJunction"), announces three newpatent allowances in the U.S. and Europe.
The first allowed patent describes an invention where position sensors (such as GNSS and IMU) are used to accurately locate a farm implement (such as a spray boom) with reference to the ground, standing crop, or other field features. Real-time compute engine processes control algorithms to compare sensor data with spatial data logged from a previous operation, or terrain model, to make control decisions which maintain desired implement height. Work order management systems and methods can be combined with the machine control functions of the invention to further automate operations, including agricultural operations involving multiple machines operating at multiple locations and sharing data with each other and with centralized data facilities.
The second patent, issued onAugust 20th, U.S. patent no. 10,384,709 describes an invention for asteering wheel actuator mechanism that more easily allows for the retrofitting ofsteering control systems in tractors and other farm machinery. Some steering control systems may not fit in vehicleswith certain console arrangements. Other steering control systems may obstructthe vehicle operator from normal hand placement on the steering wheel. Thisinvention solves these issues for farmers wanting to add aftermarketautosteering to their farm machines.
Finally, the European PatentOffice has issued a notice of allowance for a new AgJunction patent thatdescribes using in-device thermal stabilization to solve low-frequencymeasurement instability in commercially-available IMUs. This invention offersan affordable solution to measurement errors for IMUs at the lower end of theprice spectrum.
“We’re excited to bring innovative solutions to precision agriculture that expand the market and use,” said Jeff Morris, chief marketing officer of AgJunction. “And, through these innovations, providing farmers greater autonomy to be more productive.”
Bob Barjesteh, vice president,M&A, IP and general counsel for AgJunction commented, “We continue to investheavily in R&D churning out strong patents in the precision farmingspace. We remain dedicated to sustainingand improving upon the most comprehensive patent portfolio in the space, protectingproducts sold to our OEM and VAR partners along with our sales directly to thefarmer through handsfreefarm.com.”
Since 2016 alone, AgJunction hasadded 75 new patent matters with 16 new patents issued. The company currently holdsapproximately 200 precision agriculture patents and pending patentsworldwide.
AgJunction Inc., the Autosteering Company™ isa global leader of advanced guidance and autosteering solutions for precisionagriculture applications. Its technologies are critical components in over 30of the world’s leading precision Ag manufacturers and solution providers and itholds approximately 200 patents and patents pending. AgJunction markets itssolutions under leading brand names including Novariant®, Wheelman™, Whirl™ andHandsfreefarm® and is committed to advancing its vision by bringing affordablehands-free farming to every farm, regardless of terrain or size. AgJunction isheadquartered in Scottsdale, Arizona, and is listed on the Toronto StockExchange (TSX) under the symbol “AJX.” For more information, please go to AgJunction.com.
This press release contains forward-lookinginformation and forward-looking statements (collectively, "forward-lookinginformation") within the meaning of applicable securities laws and is basedon the expectations, estimates and projections of management of AgJunction asof the date of this news release, unless otherwise stated. The use of any ofthe words "expect", "anticipate", "continue","estimate", "objective", "ongoing","may", "will", "project", "should","believe", "plans", "intends" and similarexpressions are intended to identify forward-looking information. Thesestatements are only predictions and actual events or results may differ materially.Although the Company’s management believes that the expectations reflected inthe forward-looking statements are reasonable, it cannot guarantee futureresults, performance or achievement since such expectations are inherentlysubject to significant business, economic, competitive and politicaluncertainties and contingencies. In particular, forward-looking statements inthis press release include, but are not limited to statements with respect to:the Company’s vision with respect to autosteering for farmers and theexpectation that regular updates will be pushed out to the app ensuring farmerscan always operate their Wheelman products with the most up-to-date technology.Accordingly, readers should not place undue reliance on such forward-lookinginformation contained in this press release.
In respect of the forward-looking information,AgJunction has provided such information in reliance on certain assumptionsthat it believes are reasonable at this time, including, but not limited to,the sufficiency of budgeted capital expenditures in carrying out plannedactivities; that AgJunction's future results of operations will be consistentwith 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 forthe Company's products; and the continuity of existing business relationships.
Since forward-looking information addresses futureevents and conditions, such information by its very nature involves inherentrisks and uncertainties. Actual results could differ materially from thosecurrently anticipated due to a number of factors and risks. These include, butare not limited to the risks associated with the industries in which AgJunctionoperates; competition; inability to introduce new technology and new productsin a timely manner; legal claims for the infringement of intellectual propertyand other claims; negative conditions in general economic, agricultural andfinancial markets; and reduced demand for the Company's products. Readers arecautioned that the foregoing list of factors is not exhaustive.
Additional information on other factors that couldaffect the Company's operations or financial results, are included in reportsof AgJunction on file with applicable securities regulatory authorities,including but not limited to, AgJunction's Annual Information Form which may beaccessed on its SEDAR profile at www.sedar.com. The forward-looking informationcontained in this press release is made as of the date hereof and AgJunctionundertakes no obligation to update publicly or revise any forward-lookinginformation, whether as a result of new information, future events orotherwise, unless so required by applicable securities laws.
Jeff Morris, Corporate Communications, AgJunction
Gateway Investor Relations
Cody Slach, Managing Director