Ag Tech Sunday - Raven acquires the majority ownership of DOT

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DOT Technology Corp (DOT™), is excited to announce that it has entered into an agreement wherein Raven Industries, Inc. (NASDAQ:RAVN) — a leader in agriculture technology with strategic growth focus on autonomous farming — will acquire majority ownership of DOT. Funds will be used to support the continued commercialization and evolution of the Dot Power Platform and Dot Ready Implements.

The two companies began working together in May 2018, when it was announced that the Dot Platform would be outfitted with Raven technology, including steering, guidance and propulsion.

"As a company, we launched the Dot Platform to change farming. Raven has been a critical partner in helping to get Dot to where we are today," said Norbert Beaujot, Owner and Founder of DOT Technology Corp and SeedMaster Manufacturing Ltd. "Our combined technologies will undoubtedly help accelerate speed to market and adoption of machine autonomation."

"Over the last year and a half of collaborating with DOT, Raven has come to understand the value and uniqueness of the Dot platform," said Dan Rykhus, President and Chief Executive Officer of Raven Industries. "We are furthering our investment in and ownership of this unique, disruptive technology. By investing in DOT's growth, we believe we have the ability to lead in the next revolution of production agriculture."

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"Raven's past involvement with Dot and current focus on autonomous agriculture makes them the perfect partner to drive Dot into the future and onto farms throughout North America and beyond." said Robert Saik, CEO of DOT Technology Corp. "The amount of interest Dot has here in Canada, the U.S. and globally is staggering. Raven's involvement means our ability to provide a path to autonomy for farmers and implement manufacturers is now much stronger."

Continued evolution of Dot in the areas of autonomous operation, safety and overall system enhancements with Dot Ready Implement partners are all key areas of focus. With this agreement, Dot will further capitalize on its position as a leader in the autonomous agriculture sector, providing farmers a real way to address labour shortages, high equipment cost and rising operational expenses. This focus will ultimately enable farmers from around the world continue to drive more efficiency into their farming operations and grow more food through autonomy.

The transaction is expected to close in November 2019.

About DOT

DOT Technology Corp is the developer and manufacturer of a patented autonomous diesel-powered platform that is U-shaped and ready to accept any implement that has been adapted to be Dot Ready. Following Dot's 2017 launch, they have experienced a surge of interest from progressive farmers around the globe. For more information, visit http://seedotrun.com.

About Raven Industries, Inc.

Raven Industries (NASDAQ: RAVN) is dedicated to providing innovative, high-value products and solutions that solve great challenges throughout the world. Raven is a leader in precision agriculture, high-performance specialty films, and lighter-than-air technologies. Since 1956, Raven has designed, produced, and delivered exceptional solutions, earning the company a reputation for innovation, product quality, high performance, and unmatched service. For more information, visit http://ravenind.com.