Newport Beach, CA | August 31, 2020 – American Vanguard Corporation (NYSE:AVD) announced today that its wholly owned subsidiary AMVAC Chemical Corporation completed the first phase of a testing relationship with Corteva Agriscience (NYSE: CTVA) regarding Corteva’s use of AMVAC’s proprietary SIMPAS™ prescriptive application equipment. SIMPAS allows farmers to prescriptively apply multiple at-plant solutions. The technology enabled Corteva Agriscience, a leading agriculture company focused on developing crop protection, seed, and digital solutions for farmers, to precisely deliver inputs in replicated research trials in anticipation of commercialization of Corteva-brand SIMPAS-applied Solutions™ (SaS). SIMPAS is designed to address targeted problem areas in fields with solutions that are applied to specific management zones rather than treating the entire field. The announcement follows Corteva’s successful trial work with pre-commercial SIMPAS equipment in 2020.
Eric Wintemute, AMVAC’s President & Chief Executive Officer, commented: “Corteva Agriscience is one of the premier agriculture solution providers in the world, so it is gratifying that our proprietary SIMPAS platform has been recognized as a tool that can bolster Corteva’s R&D program. The potential to make Corteva-brand SIMPAS-applied Solutions available to farmers is exciting, and it is consistent with our objective for SIMPAS users to have access to SaS from suppliers other than AMVAC. The opportunity to combine SIMPAS application technology with Corteva’s R&D capabilities will lead to sustainable new solutions that will make it easy for farmers to apply only what is prescribed, precisely where it is needed. That is good for both the bottom line of participating farmers and the environment. We are pleased to work with Corteva toward that end.”
Alex Cochran, Corteva Agriscience’s Global Seed Applied Tech, Insect-Nematicide Mgmt and Biologicals Leader, commented: “Our team is excited about the utility of the SIMPAS system, not only for our R&D field trial work within the Integrated Field Sciences team, but also as a potential delivery tool for Corteva solutions that boosts sustainability while adding value to the farmer’s bottom line. We are excited about this partnership and the potential to enable farmers to prescriptively apply crop protection and yield enhancing inputs in a targeted manner to address only those areas of a field where the treatment is needed. This sustainable approach to delivering multiple inputs aligns with Corteva’s commitment to improving environmental stewardship while helping farmers maximize yield potential, minimize input costs, and optimize return on investment.”
SIMPAS will be available from Trimble dealers for corn planting in 2021. For more information, please visit www.simpas.com
SIMPAS - Smart Integrated Multi-product Prescription Application System.
Installed as “after-market” equipment on a wide range of planter brands and models, SIMPAS equipment will prescriptively apply multiple in-furrow products from on-the-row SmartCartridgeTM containers in a manner that is similar to the way a printer dispenses ink from multiple ink cartridges. The system uses software to control the application rate of each product on every row at every location in the field. Each SmartCartridge container is a self-contained closed-delivery container that is equipped with a Radio Frequency Identification (RFID)-enabled SmartTagTM that confirms each cartridge is authorized for use, properly installed, and in the correct position on the planter. The SmartTag also “links” individual cartridges with the purchaser, enabling farmers to only pay for the actual acres on which the product was applied when returned to the original place of purchase.
About American Vanguard
American Vanguard Corporation is a diversified specialty and agricultural products company that develops and markets products for crop protection and management, turf and ornamentals management and public and animal health. American Vanguard is included on the Russell 2000®
and Russell 3000®
Indexes and the Standard & Poor’s Small Cap 600 Index. To learn more about American Vanguard, please reference the Company’s web site at www.american-vanguard.com
The Company, from time to time, may discuss forward-looking information. Except for the historical information contained in this release, all forward-looking statements are estimates by the Company’s management and are subject to various risks and uncertainties that may cause results to differ from management’s current expectations. Such factors include weather conditions, changes in regulatory policy and other risks as detailed from time-to-time in the Company’s SEC reports and filings. All forward-looking statements, if any, in this release represent the Company’s judgment as of the date of this release.
American Vanguard Corporation
William A. Kuser, Director of Investor Relations
AMVAC Chemical Corporation
SIMPAS Project Manager