Clean Seed Capital Group (TSX-V:CSX) Ltd. has told investors that it is in the process of finalizing sales of its flagship SMART Seeder MAX-S and its premium model SMART Seeder MAX-5 after interest in its seeding technology grew beyond expectations through its 2021 North American show programs.
During the SMART Seeder launch and technology demonstration season, it also secured strong dealer distribution for its SMART Seeder MAX product line through tier one agricultural equipment outlets in Western Canada, chairman and CEO Graeme Lempriere said in a corporate update.
However, against the backdrop of the current global supply chain challenges, near-term shortages, and long lead time conditions, the company said it has shifted pending orders into its next cycle. All other sales activities remain on track, including ongoing demonstration programs and international outreach initiatives, it added.
READ: Clean Seed Capital announces retail sale order commitments for most of the model year 2022 production run
“Severe drought and a multitude of pests had profound impacts across much of Western Canada and throughout the Northern Plains in the US,” Lempriere said.
“Producers looking to change the way they manage crop inputs in the seeding furrow to limit additional crop stress and give seeds better access to water table moisture, have further turned their attention to the benefits of SMART Seeder MAX.”
The company said it recently broadened its intellectual property portfolio with applications for a new family of patents. The advancements apply directly to the SMART Seeder MAX technology, the impact of which is to provide another layer of protection over key aspects of the SMART Seeder technology and lengthen its protection period.
It said its brand-new facility in Saskatoon is on schedule for occupancy before calendar year-end and will be the bedrock of its operations for both sales and operations in 2022. It is also currently hiring new operations and production staff as well as additional technical resources to support the growth of its SMART Seeder MAX family of seeders.
“We are also very proud to report our technology and related media materials were chosen to be aired over the next 180 days in the Canadian Pavilion at the World Expo in Dubai, a direct tribute to our successes and commitment to Canadian innovation for the international agricultural community,” Lempriere said.
“Our values, in particular our culture of innovation, keep our people, products, partners, and shareholders focused on our objectives.”
Clean Seed said it has engaged National Bank Financial Inc. to advise on forward-looking capitalization alternatives to support its growth as it continues to evaluate opportunities.
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.
Contact the author at stephen.gunnion@proactiveinvestors.com