SCOTTSDALE, Ariz., July 15, 2021 (GLOBE NEWSWIRE) — AgJunction Inc. (TSX: AJX), (“AgJunction”), through its wholly-owned subsidiary Novariant, Inc. (“Novariant”), has been chosen by Komatsu Ltd. (“Komatsu”), an industry-leading manufacturer and supplier of equipment for the construction, mining equipment, utilities, forestry and industrial markets to provide sophisticated automation kits for construction workplaces.
The contract has been awarded following Novariant’s successful integration of customized autosteering systems for Komatsu’s equipment for agricultural use. Novariant currently provides automation modules that support mapping, path planning, and autosteering for Komatsu’s construction equipment platforms used in agricultural applications.
“After the successful integration of the customized autosteering, we look forward to continuing our collaboration with Novariant in developing an automated system capable of being integrated on multiple vehicle platforms for construction workplaces,” said Yuichi Iwamoto, Komatsu Chief Technology Officer (CTO). “Automated operation of multiple dump trucks is required to achieve safe, highly-productive, smart and clean workplaces of the future.”
Under this agreement, Novariant and Komatsu will work together to develop sophisticated automated operations for construction workplaces building on Novariant’s proprietary autosteering, connectivity, and sensor fusion technology. The first phase will involve developing a proof-of-concept system that demonstrates safe operations using Novariant’s advanced obstacle detection and avoidance algorithms.
Commenting on the new project, Luke McBeath, AgJunction’s Senior Director of Engineering said, “Automated operations for repeatable off-road tasks is necessary to meet the demands of the future. This project allows us to integrate new technology in key areas such as safety systems, connectivity, and multi-sensor vehicle control.”
AgJunction’s President and CEO, M. Brett McMickell said, “Novariant is excited to work with Komatsu on bringing sophisticated automated systems to market.”
AgJunction Inc. 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 over 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.” AgJunction conducts its indirect channel business through its wholly-owned subsidiary, Novariant, Inc. 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. Accordingly, readers should not place undue reliance on 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.
Gateway Investor Relations
Cody Slach or Cody Cree