AGCO Selected for Award by U.S. Department of Energy (DOE)
DULUTH, Ga.-(Business Wire)-September 23, 2009 - AGCO Corporation (NYSE:AGCO), Your Agriculture Company, a worldwide manufacturer and distributor of agricultural equipment, was recently selected for negotiations leading to an award by the U.S. Department of Energy. With the actual DOE grant of up to five million dollars, AGCO’s Research and Development (R & D) team will seek to demonstrate the viability of a hay product as a least-cost, near-term means for supplying high tonnage biomass feedstocks to cellulosic bio-fuel processors. The project is focused on the efficient collection and transportation of biomass to production plants for processing. AGCO offers a full line of products including tractors, combines and windrowers to compliment the entire biomass collection process.
“AGCO’s R & D team has earned the recognition that accompanies this award. Their work in the area of biomass positions AGCO well as an accomplished supplier in this growing market segment,” said Garry Ball, Senior Vice President of Global Engineering.
To deliver the objectives of the grant, AGCO will be working with industry leading renewable fuel producers, such as: POET, Abengoa Bioenergy, and Terrabon. AGCO will also be working as well with industrial experts who have focus on bio-fuels and energy crops such as Idaho National Laboratory, The Samuel Roberts Noble Foundation, Texas A&M University, Oklahoma State University, Iowa State University, and the energy crop company, Ceres, Inc.
ABOUT AGCO
AGCO, Your Agriculture Company, (NYSE: AGCO) was founded in 1990 and offers a full product line of tractors, combines, hay tools, sprayers, forage, tillage equipment, implements, and related replacement parts. AGCO agricultural products are sold under the core brands of Challenger®, Fendt®, Massey Ferguson® and Valtra®, and are distributed globally through more than 2,800 independent dealers and distributors, in more than 140 countries worldwide. AGCO provides retail financing through AGCO Finance. AGCO is headquartered in Duluth, Georgia, USA. In 2008, AGCO had net sales of $8.4 billion. Please visit our website at www.AGCOcorp.com.
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