The companies will first begin by collaborating to amalgamate EXRO’s symbiotic systems into Clean Seed’s SMART Seeder MAX and MAX – S. The companies also plan to develop aftermarket retro fit accessories to expand and accelerate the electrification of agriculture. Clean Seed hopes to inspire an industry to leverage the benefits of sustainable energy and environmental security while increasing profits through the conservation and reduction of input costs on many levels of the farming process.
Exro has designed, patented and implemented its proprietary Electronic Transmission (ETR) system and related software that controls electric motor coils through individual coil switching. This innovative technology expands speed and torque capability and improves machine efficiency across a wider operating range. The introduction of advanced control algorithms into energy conversion at the level of individual coils and cells opens up a new realm of opportunities and benefits for the agricultural sector. Clean Seed, being on the cutting edge of agricultural technology development since 2010, is recognized as a pioneer of industry and is well positioned to introduce these beneficial technologies to the industry in collaboration with a likeminded pioneer such as Exro.
Graeme Lempriere, Chief Executive Officer of Clean Seed, states “We continuously evaluate synergistic opportunities that would align with and drive Clean Seed’s mission of facilitating progress in agriculture through the design, development and implementation of industry altering technologies rooted in a sustainable foundation. This worldwide exclusive collaboration and supply agreement focused on the AG sector will set new benchmarks in the electrification of Agriculture. We strive to develop valuable solutions for the challenges associated with the Agriculture industry that both improves crop production, reduces input costs and increases profitability. This collaboration will benefit the agricultural community by promoting good stewardship of our resources. It has been a pleasure getting to know the team at Exro and we look forward to working together to electrify the AG Industry and usher in a new sustainable application”.
“This is another step in the commercialization of Exro’s technology that will expand the capabilities of the world’s electric motors,” said EXRO CEO Sue Ozdemir. “Clean Seed is a pioneer in improving the efficacy and sustainability of farming. With this new agreement, we will, together, electrify the industry to maximize its potential, driving better productivity and efficient use of energy.”
The Company also announces that Mr. Colin Rosengren has stepped down from its board of directors. The Company thanks Mr. Rosengren for his years of service.
ON BEHALF OF THE BOARD
“Graeme Lempriere”
Chief Executive Officer
About Clean Seed Capital Group Ltd.
The common shares of Clean Seed Capital Group Ltd. are listed on the TSX Venture Exchange and trade under the symbol "CSX".
We are a team of innovators and business management professionals with a proven track record of game changing innovation and production of patented agricultural technologies at a high level. We pride ourselves as progress facilitators that turn solutions for modern agricultural problem into commercially viable products to fulfill new demand.
Clean Seed’s SMART Seeder™ technologies are revolutionary seeding tools that utilize the unique synergy of sophisticated electronic metering and intuitive software control putting row-by-row variable rate technology at the forefront of agricultural innovation. Our innovations create a new class of highly accurate seeding equipment designed specifically for today’s farmer.
For further information please contact Clean Seed at 604-566-9895 and visit our website at http://www.cleanseedcapital.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The common shares of Clean Seed Capital Group Ltd. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain “forward-looking statements” as defined under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Specifically, there is no assurance that the Company’s collaboration with Exro will succeed in developing commercialized equipment in the manner contemplated in the Collaboration Agreement, or at all. Clean Seed disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.