AgriFORCE Completes Acquisition of Radical Clean Solutions
28 Août 2024 - 2:00PM
AgriFORCE Growing Systems Ltd. (the “Company”) (NASDAQ: AGRI;
AGRIW), an intellectual property (“IP”) focused technology company,
announces the closing of the acquisition of the assets of Radical
Clean Solutions Limited (“RCS”) for which the Company has held
worldwide rights in the agriculture space.
The RCS Hydroxyl Technology generates and distributes hydroxyl
radicals, highly reactive molecules that target and break down
pathogens, virus, mold, volatile organic compounds, and other
contaminants at an atomic level. Hydroxyl radicals, often referred
to as “nature’s detergent,” exist naturally in the outdoor
environment and are a key part of the natural cleaning process of
the atmosphere. RCS has harnessed the power of hydroxyl radicals in
a controlled indoor environment, allowing for the broad-spectrum
disinfection and decontamination without the use of toxic
chemicals. This technology is environmentally friendly and
compatible with people, pets and plants. AgriFORCE previously
acquired the worldwide rights to exclusively commercialize and
distribute the RCS technology in controlled environment agriculture
and food manufacturing and transport and subsequently invested a
14% stake in RCS in 2023.
Company CEO, Jolie Kahn, stated, “As food safety concerns
continue to impact manufacturing and produce packing facilities
worldwide, this acquisition strengthens our IP portfolio with a
patent-pending technology proven to eliminate pathogens without the
use of harmful chemicals. Additionally, the worldwide market for
the RCS technology applies to hospitals, homes, schools, offices,
people transport, and multiple other commercial and industrial
applications. This transaction represents our go-forward strategy,
allowing us to expand our reach beyond the agriculture sector into
a wider sustainable technology development strategy that we believe
will drive revenue progression and long-term shareholder
value.”
Under the terms of the Agreement, the Company has also entered
into a two-year consulting agreement with RCS Chief Executive
Officer Roger Slotkin, who will be heading the development and
manufacturing of the product line and servicing as President of
RCS, commented, “We believe the tailwind created by AgriFORCE’s
agricultural and CEA domain expertise, along with new access to
capital and distribution initiatives RCS has already taken
worldwide, will accelerate the commercialization of our technology
across food production, healthcare, and both commercial and
consumer markets. I look forward to working closely with management
to implement a global distribution strategy.”
ABOUT AGRIFORCEAgriFORCE Growing Systems Ltd.
(NASDAQ: AGRI; AGRIW) is a technology development company focused
on building an integrated platform that combines the best
technology, intellectual property, and knowledge to solve urgent
problems. Additional information about AgriFORCE is available
at: www.agriforcegs.com.
Follow AgriFORCE on Twitter: @agriforcegsFollow AgriFORCE
on Facebook: AgriFORCE Growing Systems Ltd.Connect with
AgriFORCE on LinkedIn: AgriFORCE Growing Systems Ltd.
Forward-Looking Statements
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. This announcement is for informational
purposes only and does not constitute an offer to sell or a
solicitation of an offer to buy securities of the issuer. Any offer
to sell or solicitation of an offer to buy securities of the issuer
may only be made pursuant to a valid prospectus pursuant to an
effective registration statement or pursuant to a valid exemption
from registration under the Securities Act of 1933, as amended and
the rules and regulations promulgated thereunder.
Investor Relations:
Richard Wong, CFOrwong@agriforcegs.com
CORE IRinvestorrelations@agriforcegs.com
AgriFORCE Growing Systems (NASDAQ:AGRIW)
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