Ag Tech Investments News

MOLINE - Deere & Company (NYSE: DE) plans to construct a new 33,000-square-foot facility at the Iowa State University (ISU) Research Park as a design and test lab for agricultural spraying and applications technology.

"As a leader in precision agriculture, John Deere is focused on providing customers with innovative, high quality products and services," said Aaron Wetzel, Deere's vice president of the global crop care platform at John Deere. "Our customers will benefit from this investment as the spray lab is expected to enhance product design and improve our development cycle."

Wetzel said the new test center will allow increased collaboration with ISU faculty and students. In 2017, Deere opened a strategic technology innovation center in the ISU Research Park to collaborate with the company's business units and complement John Deere's global network of technology and innovation centers. Some employees from that center will be located in the new building when it is completed.

Wendy Wintersteen, President of Iowa State University, said, "We are thrilled that John Deere continues to recognize Iowa State's exceptional return on investment. The plans announced today for the ISU Research Park will enhance John Deere's access to our expertise, research and development opportunities and to ISU's student workforce."

The facility is expected to be completed by summer 2019 and is contingent on final due diligence as well as required approvals and incentives that are typically available for projects of this nature.

Deere has recently expanded its leadership in crop care technologies and acquired several companies that offer innovative spraying technologies for agriculture customers around the world.

Source: https://www.prnewswire.com/news-releases/