Agribotix Names Lou Faust As New CEO Of Emerging Market Leader In Drone-Enabled Software

- Rapid Growth Prompts Agricultural Intelligence and Drone Company to Add Senior Executive -

Jul 28, 2015, 08:30 ET from Agribotix

BOULDER, Colo., July 28, 2015 /PRNewswire/ -- Agribotix, a provider of agricultural intelligence solutions using drone-enabled technologies, announced that Lou Faust has joined the company as CEO. Mr. Faust brings more than 30 years of management experience and ten years on Wall Street as managing director with Salomon Brothers (Citigroup) to his role. His expertise in creating growth strategies, raising capital and leading start-ups to successful exits comes at an ideal time for Agribotix, which has seen explosive growth this year.

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"I'm delighted to welcome Lou to the Agribotix team. His vast experience funding emerging growth companies and engineering exits will help take us to the next level," said Paul Hoff, COO.

The ag tech and drone sectors have seen an influx of investors, thanks to global demand for precision agriculture solutions and increasing acceptance of drones for crop surveillance. The proliferation of players offering software and hardware has made for heady competition amongst venture capitalists seeking attractive opportunities.

Agribotix, with its focus on agricultural intelligence using agriculture-specific drone-enabled technologies, enjoys an emerging leadership position in the market.

"We believe we have a differentiated growth strategy relative to the competition," said Faust. "We're 'all ag, all the time.' Our solution provides critical intelligence growers need to make key business decisions concerning precise fertilizer application, irrigation and more to produce bigger yields and higher profits. All they need to do is just add the farm."

About Agribotix
Founded in Boulder, Colorado in 2013, Agribotix delivers agricultural intelligence to increase yields and profits using drone-enabled technologies. All Agribotix solutions include Field Lens™, the leading cloud-based data analysis and reporting solution for people using drones in agriculture. Outputs include prescription maps for in-season fertilization, weed reports for geolocating resistant patches and estimating coverage, and specialized reporting. The Field Lens solution is bundled with the Enduro turnkey ag drone system, which includes a long range agricultural quad. For more information, visit www.agribotix.com or call (720) 295-3625.

 

SOURCE Agribotix



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