Agribotix, a Boulder, Colo.-based provider of agricultural intelligence solutions using drone-enabled technologies, has named Lou Faust CEO of the company.
Faust brings more than 30 years of management experience to Agribotix, including 10 years on Wall Street as managing director with Salomon Brothers (Citigroup).
Agribotix, which was founded in 2013, says Faust’s appointment comes at an ideal time for the company, which has seen explosive growth this year. In May, Agribotix received a grant from Colorado's Advanced Industry Program.
‘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,’ comments Paul Hoff, chief operating officer.
‘We believe we have a differentiated growth strategy relative to the competition,’ says 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.’