The Toro Company Invests in GreenSight Agronomics for Drone Mapping of Golf Courses
06 Februar 2018 - 10:05PM
Business Wire
Exclusive relationship will further Toro’s
efforts in turf sensing technology to help golf course
professionals improve turf and water management practices
The Toro Company (NYSE: TTC) today announced a strategic
minority equity investment in GreenSight Agronomics, a Boston-based
provider of automated, agronomic intelligence technologies for
turfgrass and agricultural markets. Terms of the transaction were
not disclosed.
“As the golf industry expands its efforts to improve play and
more efficiently use water, the application and advancement of
technology will play a vital role,” said Philip Burkart, vice
president of The Toro Company’s Irrigation and Lighting Businesses.
“We are intrigued and see great potential to align with GreenSight
Agronomics to apply their technologies and analytics with our water
management expertise to further provide our customers with the best
solutions. We look forward to working with the GreenSight team on
ways to integrate their technologies into our Lynx Central Control
system, with the intent of expanding the capabilities and access to
timely course information so customers can address problems quickly
and more precisely.”
GreenSight Agronomics is a leader in turfgrass remote sensing
and analysis. The company’s patent-pending system, which combines
automated drones and sensors, provides thermal mapping and
detection analytics to help golf course professionals improve turf
health with less labor. The technology enables customers to
identify issues before they become visible, and achieve better
outcomes with less water, fertilizer and pesticide use.
"GreenSight is redefining precision agriculture by packaging
automated drones, custom sensors and machine learning into a
turn-key service. We are excited to partner with The Toro Company
to deliver customers the ultimate in irrigation management
technology for golf courses and beyond,” added James Peverill, CEO
of GreenSight Agronomics.
About The Toro CompanyThe Toro Company (NYSE: TTC) is a
leading worldwide provider of innovative solutions for the outdoor
environment including turf maintenance, snow and ice management,
landscape, rental and specialty construction equipment, and
irrigation and outdoor lighting solutions. With sales of $2.5
billion in fiscal 2017, Toro’s global presence extends to more than
125 countries. Through constant innovation and caring
relationships built on trust and integrity, Toro and its family of
brands have built a legacy of excellence by helping customers care
for golf courses, sports fields, public green spaces, commercial
and residential properties and agricultural operations. For
more information, visit www.thetorocompany.com.
About GreenSight AgronomicsGreenSight Agronomics, founded
in 2015 by former defense contractor executives and engineers, is
developing the next generation agricultural intelligence platform.
Combining autonomy, custom sensors, and machine learning-based data
analytics technology; GreenSight delivers actionable alerts on soil
moisture, pest stress, and nutrient deficiency to land managers.
GreenSight is the leader in turfgrass remote sensing, providing
daily monitoring services at top golf courses, top agrochemical
company test sites, and to specialty agriculture. To learn more,
visit www.greensightag.com.
Forward-Looking StatementsThis news release contains
forward-looking statements, which are being made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements are based on
management’s current assumptions and expectations of future events,
and often can be identified by words such as “expect,” “strive,”
“looking ahead,” “outlook,” “guidance,” “forecast,” “goal,”
“optimistic,” “anticipate,” “continue,” “plan,” “estimate,”
“project,” “believe,” “should,” “could,” “will,” “would,”
“possible,” “may,” “likely,” “intend,” “can,” “seek,” “potential,”
“pro forma,” or the negative thereof or similar expressions.
Forward-looking statements involve risks and uncertainties that
could cause actual events and results to differ materially from
those projected or implied. Particular risks and uncertainties
include: market demand and acceptance of the technologies and
analytics developed by GreenSight Agronomics; integration of such
technologies and analytics into our products; the extent of
collaboration between us and GreenSight Agronomics; ability of
GreenSight Agronomics to grow its business and manage growth
profitably; changes in laws or regulations, including those related
to the commercial use of drones; general adverse business, economic
or competitive conditions; and other risks and uncertainties
described in our most recent annual report on Form 10-K, subsequent
quarterly reports on Form 10-Q, and other filings with the
Securities and Exchange Commission. We make no commitment to revise
or update any forward-looking statements in order to reflect events
or circumstances occurring or existing after the date any
forward-looking statement is made.
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version on businesswire.com: http://www.businesswire.com/news/home/20180206006380/en/
The Toro CompanyInvestor RelationsHeather Hille,
952-887-8923Director, Investor
Relationsheather.hille@toro.comorMedia RelationsBranden
Happel, 952-887-8930Senior Manager, Public
Relationsbranden.happel@toro.com
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