AMVAC’s SIMPAS operates parallel with Clean Seed’s patented SMART Seeder and SMART Planter technologies
American Vanguard subsidiary AMVAC has sealed a $5m strategic license and investment agreement with Clean Seed Capital Group.
As per terms of the deal, AMVAC will pay $2.5m for Clean Seed to secure licence for intellectual property rights.
The deal also includes the payment of an undisclosed royalty to Clean Seed by AMVAC in conjunction with AMVAC’s future SIMPAS (Smart Integrated Multi-Product Prescription Application System) hardware sales.
AMVAC will also invest an additional $2.5m to purchase the shares of Clean Seed stock.
AMVAC chief operating officer Dr Bob Trogele said: “AMVAC is investing in this strategic technology relationship in order to leverage the superior prescriptive at-plant application technology of both companies. We believe our organizations are truly symbiotic.”
AMVAC’s SIMPAS allows the simultaneous and prescriptive application of multiple crop protection and nutritional inputs
The patented SIMPAS facilitates the simultaneous and prescriptive application of multiple crop protection and nutritional inputs.
The precision application technology is said to operate parallel with Clean Seed’s patented SMART Seeder and SMART Planter technologies.
Clean Seed chairman and CEO Graeme Lempriere said: “Our aligned objectives, to deliver sustainable, meaningful results for the agricultural sector through the precise application and control of inputs, are rooted in the stewardship of our soil structure.
“AMVAC’s leadership in the chemical business and Clean Seed’s cutting edge leadership in the multi-product delivery systems and related SMART Seeder and SMART Planter technologies assures a mutually beneficial relationship that strengthens our collective efforts and protects our product offerings.”
American Vanguard is a diversified speciality and agricultural products firm, which is engaged in the development and marketing of products for crop protection management, turf and ornamentals management, and public safety and animal health applications.