SCOTTSDALE, Ariz., July 30, 2019 (GLOBE NEWSWIRE) -- AgJunction Inc. AJX, the Autosteering Company™ ("AgJunction"), announces the recent issuance from the U.S. Patent and Trademark Office of U.S. Patent No. 10,266,201 titled, "K-Turn Path Controller."
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Since eTurns debuted in 2011, AgJunction has been at the forefront in developing and delivering auto-steering headland turns. In addition to improved performance and a tighter turning ratio that supports more effective configurations, K-Turns offers farmers the benefit of further reducing the area required to perform a turn with their equipment. The classic "keyhole turn" requires a large headland to make a turn for the next row, while K-turns can reduce the size of that headland by half and better utilize the grower's fields. This increases the amount of the field available for planting and provides a safer turning option for farmers with land that borders canals, creeks and other challenging terrain.
"AgJunction really considers how autosteering effects the work of the farmer and the mechanics of agriculture itself," said M. Brett McMickell, COO of AgJunction. "The K-Turns capability is about improving efficiency without overlapping to maximize utilization of the entire field. Using minimal headland space means a greater yield is possible, along with the ability to make more efficient turns and adjustments, while providing greater autonomy to be more productive."
Bob Barjesteh, vice president, M&A, IP and general counsel for AgJunction commented, "Owning this important technology further solidifies our patent coverage in machine steering, specifically in the area of auto headland turns. We also were just granted the European patent for this technology, where the K-Turns capability is even more critical to farmers because of the slightly smaller field sizes."
Since 2016, AgJunction has added 72 new patent matters with 13 new patents issued. The company currently holds approximately 200 precision agriculture patents and pending patents worldwide.
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™, 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." 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. 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.
Contact:
Media
Jeff Morris, Corporate Communications, AgJunction
+1-510-933-4808
jmorris@agjunction.com
Amy McEvoy, Associate Public Relations Director, Rhea + Kaiser
+1-630-955-6622
amcevoy@rkconnect.com
Investor Relations
Gateway Investor Relations
Cody Slach, Managing Director
+1-949-574-3860
AJX@gatewayir.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/59c67915-5535-45cb-b0c9-4a5859064b32
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