AgJunction and Swift Navigation Form New Partnership
Companies aim to develop highly accurate, low-cost, near-autonomous small tractor solutions
SCOTTSDALE, AZ, May 9, 2019 /CNW/ - AgJunction Inc. (TSX: AJX), the Autosteering Company™ ("AgJunction"), announced today that it is partnering with Swift Navigation to develop near-autonomous small tractor solutions for agricultural applications with high accuracy and at a reasonable price point.
This partnership will combine autosteering technology pioneered by AgJunction and the Duro® RTK GNSS receiver from Swift Navigation. The research resulting from this partnership will ultimately lead to lower cost autosteering products with high accuracy.
"Duro, and the robust RTK GNSS positioning it delivers, is a source of pride for Swift," shared Tim Harris, CEO of Swift Navigation. "With a mission to enable a future of autonomous vehicles, we strive to bring that autonomy to farm equipment — such as small tractors — at an affordable price for farmers and partnering with the renowned autosteering expert AgJunction helps make that a reality."
"AgJunction and Swift have been groundbreaking in their respective fields," said Dave Vaughn, President and CEO of AgJunction. "I'm eager for what the future holds and how we can further deliver low-cost autosteering and navigation while delivering high accuracy down to a centimeter."
About AgJunction
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™, and Whirl™ and is committed to advancing its vision by bringing affordable hands-free farming to every farm, regardless of terrain or size. AgJunction has locations in California, Arizona, and Australia, and is listed on the Toronto Stock Exchange (TSX) under the symbol "AJX." For more information, please go to AgJunction.com.
About Swift Navigation
Swift Navigation, Inc. has been redefining GNSS positioning technology since 2012. What began as the industry's first low-cost, high-accuracy, real-time kinematic (RTK) receiver has evolved into an ecosystem of GNSS positioning solutions for autonomous applications. The Starling® Positioning Engine is an integrated software solution for precise positioning while the Skylark™Cloud Corrections Service delivers GNSS corrections across the contiguous U.S. —eliminating traditional geographical restrictions. Piksi® Multi and ruggedized Duro® and Duro Inertial RTK receivers deliver centimeter-level accuracy at an affordable price, making them ideal for commercial and industrial applications. Swift Navigation's technology benefits a multitude of industries and applications — including autonomous vehicles, precision agriculture, robotics, rail, unmanned aerial vehicles (UAVs) and surveying. Swift Navigation is enabling a future of autonomous vehicles to navigate and understand the world, where autonomous transportation can safely take you home, fields farm themselves and your next application can be a reality. Learn more online at swiftnav.com, follow Swift on Twitter @Swiftnav.
Forward-Looking Statements
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.
SOURCE Agjunction Inc.
Media, Jeff Morris, Corporate Communications, AgJunction, +1-510-933-4808, [email protected]; Amy McEvoy, Associate Public Relations Director, Rhea + Kaiser, +1-630-955-6622, [email protected]; Investor Relations, Gateway Investor Relations, Cody Slach, Managing Director, +1-949-574-3860, [email protected]
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