MTD Acquires Two Innovative Companies: CORE Outdoor Power and Precise Path Robotics

CLEVELAND, Jan. 28, 2015 -- With the recent purchase of two companies widely recognized as innovators, outdoor power equipment leader MTD Products Inc. has strengthened its commitment to help professional landscapers, grounds care professionals, and lawn and garden care enthusiasts push the bounds of what they can accomplish.

Last month, MTD – the parent company of Cub Cadet, Troy-Bilt, Columbia, Yard Machines, Remington, Arnold  and other brands – acquired CORE Outdoor Power (CORE), a Polson, Montana-based company that powers outdoor lawn care equipment with gasless motor technology that produces higher torque and increased efficiencies than traditional electric motors. CORE Outdoor Power's products have received accolades from leading industry media for having the performance and durability of gas engines and the ability to withstand the most demanding commercial applications, while producing zero emissions and very little noise.

Prior to the purchase of CORE, MTD also acquired Precise Path Robotics, an Indianapolis-based company that has brought to market the world's only commercially available autonomous greens mower, the RG3, designed specifically for golf course putting greens. Advanced robotic technology allows the RG3 to travel in straight lines and along curved perimeters without the need of an operator to guide it – enabling golf course superintendents to achieve consistent and excellent course conditions while reducing operating costs.

"MTD is committed to the professional market," said Rob Moll, CEO, MTD Products. "Robotic and gasless technologies have the power to transform the world of outdoor power equipment and we look forward to bringing the benefit of these new innovations to our consumer and trade customers."

CORE Outdoor Power's Conductor Optimized Rotary Energy motor produces high-torque rotary motion at higher efficiencies and power levels than conventional electric motors. With zero emissions, little noise, and torque levels equal to two-cycle gasoline powered engines, CORE technology is uniquely poised to disrupt the market for portable outdoor power equipment – especially when combined with the company's recently developed lithium power cell, which is capable of storing and delivering unprecedented amounts of power in a very small package. The marriage of these two technologies allows for an environmentally clean line of products that will allow for a new approach to the outdoor power equipment market, which has been historically dominated by two-cycle gas engines.

Precise Path Robotics is a leader in advanced robotic outdoor equipment, with patented technologies that will enable the development of a wide range of robots for use in a variety of outdoor environments, including golf courses, sports fields and residential homes. Precise Path's robust and modular system architecture integrates a variety of custom and off-the-shelf sensor technologies that are combined in a unique way that produces precise cutting patterns.

"MTD has a history of bringing game-changing innovation to the market," said Jean Hlay, President and COO, MTD Products, "and these two acquisitions serve to reinforce our core principles and accelerate the pace with which we bring our vision of the future to life."

ABOUT MTD PRODUCTS

MTD is a worldwide leader in outdoor power equipment with facilities in North America, Europe, Asia and Australia producing equipment for both residential and professional markets. Founded more than 80 years ago and headquartered in Valley City, Ohio, MTD's engineering expertise and state-of-the-art facilities are known for innovation and award-winning products for brands including Cub Cadet, Troy-Bilt, Columbia, Yard Machines, Remington, Arnold and other brands. MTD has earned a reputation around the world for excellence in quality, customer service and value through advanced manufacturing. To learn more, visit mtdproducts.com.

Outdoor Power Equipment Goes Gas-Free: Makes Way to Wind Energy

February 9 -- You know the drill.  The familiar buzzing sound of a weed wacker combined with either the smell of gasoline or that super long power cable that's covered in grass shavings.  Not any more.

A father and son team, Matt Jore and Lincoln Jore, Core Outdoor Power, created new gas-free motor technology, called Conductor Optimized Rotary (CORE™) combined with a hybrid power cell to go in their new line of gas-free emission-free outdoor power equipment – a hedge trimmer, lawn mower, blower and back pack blower. They call it intelligent technology to replace gas.

What does the new gas-free motor technology mean for portable outdoor power equipment?

Well a couple of things. One, the Outdoor Power Equipment (OPE) market for portable or handheld moving products is around $15B. Second, zero emissions, less noise with no loss of power to trim or blow – all of that inside of a market ready for a makeover.

Lincoln Jore, President and Founder, Core Outdoor Power, has been quoted in the past saying the OPE market has missed the mark on developing alternative energy products that meet performance expectations. He believes the company is onto something with their new gas-free product line and he might be right.

The hybrid power cell in the CORE motor technology makes it capable of storing and delivering large amounts of power in a very small package. Combining these technologies together creates an environmentally clean line of products capable of consuming a large portion of that $15B outdoor power equipment market, which has historically been dominated by two-cycle gas engines.

Yes, there are other OPE companies making green lines, but Jore says the advantage of CORE’s gas-free system comes from the marriage of those two technologies: the CORE motor technology and the lithium-based hybrid power cell.

“Our motors are capable of hitting very high power levels in a very compact package,” said Jore. “We use heavy duty circuit boards and permanent magnets rather than wire windings and iron laminations used in conventional motors. This gives our products considerably higher performance.”

The first application of their technology is in the OPE market, but the company sees other applications as well, such as in the wind energy sector with wind turbines. Jore believes they can leverage the CORE motor technology in a wind turbine power generation system at Boulder Wind Power in Colorado for residential and commercial deployments.

Boulder Wind recently received $34M in funding from Molycorp, Inc. (NYSE:MCP) and venture capital firm NEA.  Molycorp is the Western hemisphere’s only producer of rare earth oxides (REO) and the largest REO producer outside of China.  NEA is a key investment player in the clean energy, IT and health care spaces with more than $11 billion in committed capital.

“The technology allows utility-scale power levels in the multi-megawatt range, so both commercial and residential markets are served,” said Jore. “The ultimate goal of Boulder Wind is to offer a CORE generator that allows for the lowest cost energy to all end users, both residential and commercial.”

Jore admits there are always barriers to entry in every market, but states that any technology must be reliable, efficient, and cost-effective to penetrate the wind energy markets. “We believe our technology, which is a direct-drive gearless power generator, enjoys these characteristics and feel it’s a natural extension and application of the technology.”

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