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AgriFORCE Growing Systems Sets its Sights on New Disruptive Agricultural IP in Move to Public Offering with Nasdaq

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  • AGRIW

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Image by Syahir Hakim from Pixabay

Whether it be drought conditions, inefficiencies drawn from traditional practices or an inability to gain the technical expertise needed to compete in an increasingly complex agricultural industry, today’s farmers need some help to survive. AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI), an agri-focused technology company, is developing systems and solutions to benefit the beleaguered farmer. To further its impact, the company has raised new capital after going public and joining Nasdaq under the symbols AGRI and AGRIW.

After 3 years and spending millions of dollars on engineering and development, AgriFORCE believed it was at a point where it needed to acquire other Ag-Tech vendors who could become part of the Company’s ecosystem, according to company CEO Ingo Mueller in a recent interview on Fox Business News.

“We’re looking at other vendor companies, particularly out of Europe where agriculture IP has existed in the ’40s and even earlier. There are a lot of companies that have unique inputs or elements of solutions that we believe are valuable in producing the next generation of agricultural solutions,” Mueller said. “Part of it is to have that currency to go out and acquire those sorts of companies and really continue to innovate and improve available solutions.” Watch the interview with Fox Business News here.

The move to go public netted AgriFORCE $15.6 million in gross proceeds with an initial public offering at $5 a share of approximately 3.127 million units, each consisting of 1 common share and 1 Series A warrant to purchase 1 common share.

AgriFORCE, since its inception, has shown a commitment to developing and acquiring innovative intellectual property (IP) for use in the complete system of crops, operations, facilities, systems and the environment. Its facility is designed to be fully sealed blocking virtually all toxins and pathogens, thereby removing the need for any pesticides or irradiation.

The Company operates in plant-based pharmaceutical, nutraceutical and other high-value crop markets using its unique proprietary facility design and hydroponics-based automated growing system, enabling cultivators to grow crops in its controlled environment effectively. The Company calls its facility and automated growing system the “AgriFORCE grow house.” The goal is to produce crops in virtually any environmental condition and to optimize crop yields while eliminating the need for the use of pesticides and irradiation.

“It is a form of hydroponics, but we have a patent-pending system that really is what we call the fourth wave of growing. It’s a unique facility design that actually even improves the efficiency and sustainability of the hydroponics system so it’s not like a warehouse or indoors and not like a greenhouse,” Mueller explained to Fox Business News. “It’s extremely efficient and we believe that we have the highest yield per square foot of existing technology, and we looked at the deficiencies of legacy systems.”

AgriFORCE focuses on refining its foundational IP and developing and acquiring new innovative technology to address substantial gaps in current agricultural solutions with the end goal of being clean, green and local.

For more information on AgriFORCE, visit www.agriforcegs.com.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.