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AGRIFORCE Growing Systems Ltd. ("the Company") (NASDAQ: AGRI; AGRIW) an intellectual property (IP)-focused AgTech company dedicated to advancing sustainable cultivation and crop processing across multiple verticals, today announced that it has received a Notice of Allowance from the Canadian Intellectual Property Office for its patent application titled "Structures for Growing Plants." This allowed patent corresponds to the previously announced patent application in the U.S. and related AGRIFORCE patent, trademark, and copyright applications previously filed in the U.S., Asia, Europe, the Caribbean, and CentralSouth America.
The allowed patent application for AgriFORCE GrowHouse has 20 claims for different inventive features relating to structures for growing plants. This encompasses innovative design elements of the GrowHouse structure and operational systems, such as transmissive panels that maximize the full light spectrum; automation; Internet-of-Things (IoT) technologies to artificial intelligence (AI); enhanced insulation for maximizing energy efficiency; and a sealed positive pressure environment that provides optimally managed crop cultivation. The Company has another patent family for automated growing systems, and based on its positive International Preliminary Report on Patentability, allowance for the second patent family for automated growing systems is expected to follow soon.
Troy McClellan, President of AgriFORCE Solutions, commented: "This allowed patent is significant to our business as it further validates the uniqueness of our IP around the AgriFORCE GrowHouse. It is encouraging to see that all of the claims made in the AgriFORCE GrowHouse patent application have been acknowledged and subsequently allowed, without exception, which is rare for complex applications such as ours. The GrowHouse design is the culmination of years of development, which we believe represents the next generation of indoor growing for high value crops. Our revolutionary facility design harnesses the power of the sun, while providing precise and consistent growth cycles. The combination of our unique structure, energy efficient design, and automated growing system, can be utilized in virtually any climate to realize higher quality and higher yield crops."
Ingo Mueller, CEO of AgriFORCE Growing Systems, added, "This notice of allowance constitutes another key milestone in our strategy to build our business supported by strong IP and knowledge. We are witnessing very strong demand due to the value proposition for growers, including increased yield and improved operating economics."
About AgriFORCE
AGRIFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW) is an AgTech company focused on the development and acquisition of crop production know-how and intellectual property augmented by advanced AgTech facilities and solutions. Looking to serve the global market, the Company's current focus is on North America, Europe and Asia. The AGRIFORCE vision is to be a leader in delivering plant-based foods and products through advanced and sustainable AgTech solution platforms that make positive change in the world—from seed to table. The AGRIFORCE goal: Clean. Green. Better. Additional information about AGRIFORCE is available at: www.AGRIforcegs.com.
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This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Company Contact:
Ian Pedersen
Tel: (604) 757-0952
Email: ipedersen@agriforcegs.com
Investor Relations:
Crescendo Communications, LLC
David Waldman/Natalya Rudman
Tel: (212) 671-1021
Email: AGRI@crescendo-ir.com
Media Relations:
Peppercomm
Hannah Robbins
Tel: (415) 633-3205
Email: AgriFORCE@peppercomm.com
