AgJunction to Provide Automation Kits to Leading Equipment Manufacturer Komatsu Ltd.
16 Juli 2021 - 3:00AM
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.”
About AgJunction/NovariantAgJunction 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.
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. 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.
Contact:
MediaAgJunction Inc.press@agjunction.com
Investor RelationsGateway Investor
RelationsCody Slach or Cody Cree1-949-574-3860AJX@gatewayir.com