Iteris Enters into Precision Ag Weather Agreement with BASF

February 04, 2015

BASF to use ClearAg High Resolution Weather Data for Rapid Grower Notification and Field Execution Response

SANTA ANA, Calif., and RESEARCH TRIANGLE PARK, N.C., February 4, 2015 – Iteris, Inc. (NYSE MKT: ITI), a leader in providing intelligent traffic management and weather information solutions, announced that BASF, the world’s leading chemical company, has entered into an agreement to leverage Iteris’ ClearAg high-resolution field level weather information.

Under this agreement, Iteris’ ClearAg high-resolution, precision hail information will be integrated into BASF’s suite of precision agronomy sales and customer support tools. BASF sales and customer support staff will have access to Iteris’ field-level hail information, including descriptions of hail events by state, county, township, or zip code; hail amounts; and graphic maps of hail events in most U.S. states with the goal of being able to quickly notify U.S. corn and soybean growers in time for precise crop protection response to potential crop damage or other hail-related issues.

“It’s important for corn and soybean growers to quickly assess and respond to hail-related crop damage before fungus or other diseases have time to set in and cause further damage,” said Gary Fellows, Ph.D., BASF Tech Service Fungicide and Seed Treatment Manager. “By leveraging Iteris’ ClearAg hail data, we can send a notification to growers on how to treat or respond to hail-damaged crops for improved execution in the field.”

“By delivering our high-resolution ClearAg hail data to BASF, we are empowering their sales and support staff, as well as their U.S. Crop Protection customers, with actionable information for more proactive field response,” said Abbas Mohaddes, President and CEO of Iteris. “We look forward to working with the world’s largest chemical company and their efforts to bring high-value, decision-support services to their grower customer base in the U.S.”

ClearAg from Iteris provides agribusinesses with the actionable field-level weather information needed for data-driven decision making of efficient crop management, risk reduction and mitigation, and resource allocation. ClearAg is a series of application programming interfaces (API) and products that can be readily integrated with third-party agricultural software applications. ClearAg is currently available through a single partner and platform.

About Iteris, Inc.

Iteris, Inc. (NYSE MKT: ITI) is a leader in providing intelligent information solutions to the traffic management market. The company is focused on the development and application of advanced technologies and software-based information systems that reduce traffic congestion, provide measurement, management, and predictive traffic and weather analytics, and improve the safety of surface transportation systems. By combining its unique IP, products, decades of expertise in traffic management, hyper-local weather solutions and information technologies, Iteris offers a broad range of Intelligent Transportation System (ITS) solutions to customers worldwide. The firm is headquartered in Santa Ana, California, with offices nationwide and abroad. For more information, please call 1-888-329-4483 or visit www.iteris.com. Also visit us on Facebook, Twitter, and YouTube.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," "will," "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the anticipated results and benefits of our agreement with BASF and our ability to accelerate BASF’s efforts to bring high value decision-support services to their growers.  Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.

Important factors that may cause such a difference include, but are not limited to, our ability to successfully integrate our ClearAg hail data and technologies into BASF’s tools on a timely basis;  the reliability of our ClearAg hail data, challenges in the development, roll-out and integration of the BASF tools and in software-based solutions generally; BASF’s dedication of resources and ability to achieve market acceptance for its own products; the potential impact of product and service offerings from competitors and other competitive pressures; the broad adoption of technology based analytics

About BASF’s Crop Protection division

With sales of more than €5.2 billion in 2013, BASF’s Crop Protection division provides innovative solutions in crop protection, seed treatment and biological control as well as solutions to manage water, nutrients and plant stress. Its portfolio also includes products for turf and ornamental plants, pest control and public health. BASF’s Crop Protection division is a leading innovator that supports growers to optimize agricultural production, improve their business efficiency and enhance the quality of life for a growing world population. Further information can be found on the web at www.agro.basf.com or through our social media channels.

About BASF

BASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has nearly 17,000 employees in North America, and had sales of $19.3 billion in 2013. For more information about BASF’s North American operations, visit www.basf.us.

At BASF, we create chemistry – and have been doing so for 150 years. Our portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. As the world’s leading chemical company, we combine economic success with environmental protection and social responsibility. Through science and innovation, we enable our customers in nearly every industry to meet the current and future needs of society. Our products and solutions contribute to conserving resources, ensuring nutrition and improving quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF had sales of about €74 billion in 2013 and over 112,000 employees as of the end of the year. Further information on BASF is available on the Internet at www.basf.com.

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Iteris Contact:
Scott Liolios or Cody Slach
Tel.: (949) 574-3860
Email: ITI@liolios.com
BASF Contact:
Pat Morrow
Tel.: (973) 519-1479
Email: pat.morrow@basf.com

 
 

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