AgriFORCE Announces Exclusive Worldwide Licensing Agreement to Commercialize Radical Clean Solutions’ New Patent-Pending Hydroxyl Generating Devices for the Controlled Environment Agriculture and Food Manufacturing Sectors

Rhea-AI Summary

AgriFORCE Growing Systems (NASDAQ: AGRI; AGRIW) has secured an exclusive global licensing agreement with Radical Clean Solutions to commercialize innovative hydroxyl generating devices in the controlled environment agriculture and food manufacturing sectors. This technology targets airborne and surface-based pathogens, including mold and bacteria, which impact crop yield and food safety. The partnership allows AgriFORCE to enhance operational efficiency and safety for consumers. CEO Ingo Mueller highlighted the potential for improved profitability and crop yields through this advanced solution.

Positive

• Exclusive licensing agreement with Radical Clean Solutions for hydroxyl technology.
• Technology targets mold and pathogens that negatively affect crop yield and food safety.
• Joint patent ownership rights enhance AgriFORCE's competitive standing.
• Potential to avoid costly recalls by destroying harmful bacteria.
• Aims to improve profitability and employee safety across industries.

Negative

• None.

Proprietary system seeks out and destroys airborne and surface-based mold, bacteria, viruses as well as Coronavirus and other pathogens in real-time

Mold contamination alone affects nearly 25% of the world’s crops

Hydroxyl technology capable of destroying E. coli, Salmonella, as well as other bacteria and other pathogens that present risk to consumers.

VANCOUVER, British Columbia, Feb. 22, 2022 (GLOBE NEWSWIRE) -- 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, has entered into an exclusive worldwide licensing agreement with Radical Clean Solutions Ltd. (RCS), to commercialize their new proprietary hydroxyl generating devices within the controlled environment agriculture (CEA) and food manufacturing industries. The patent pending system seeks out and destroys both airborne and surface-based mold, bacteria, virus, odorous and volatile organic compounds (VOCs), as well as other pathogens and pollutants in real-time. The license grants the rights to AgriFORCE in perpetuity as well as joint patent ownership rights for CEA.

Ingo Mueller, CEO of AgriFORCE Growing Systems, commented: “Adding to the momentum of our recent definitive agreement to acquire Delphy Groep BV (Delphy) (Delphy), we are thrilled to work with Radical Clean Solutions to start commercializing another set of solutions, which address some of the most important problem areas in the CEA and food manufacturing sectors. According to Food and Agricultural Organization (FAO) reports⁽¹⁾, it is estimated that mycotoxin (mold) affects nearly 25% of the world’s crops. In addition to mold, airborne pathogens, such as COVID-19, contribute to significant loss of personnel due to sick leave, which is evident by the massive supply chain issues that have affected the industry during the current pandemic. Moreover, by destroying bacteria such as E. coli and Salmonella, manufacturers can potentially avoid costly recalls, which have both a financial and lasting brand impact.

Mueller continued, “Through the implementation of this technology, we believe our end users will not only improve their bottom line, but also better protect the safety of their employees and consumers. AgriFORCE is ideally suited to deploy this technology on a global scale by initially leveraging Delphy’s customer base, as well as the deep industry knowledge and relationships of their experienced management team. In addition, we look forward to deploying the system within our own GrowHouse facilities, which we believe will further enhance yields and improve profitability. Overall, this license agreement is closely aligned with our mission of delivering Clean, Green, Better AgTech.”

Roger M. Slotkin, CEO of Radical Clean Solutions, added: “We at RCS are proud to not only be a integral solution for AgriFORCE’s patented growing systems to ensure a mold and pathogen free environment, but also to have the opportunity to work directly with the seasoned management team of AgriFORCE as our exclusive, worldwide licensee for the marketing, sale and distribution of our products to the Controlled Environment Agriculture and food production/manufacturing industries. Unlike virtually all “air cleaning technologies” on the market today, the Radical solution does not simply filter or treat the air that passes through it. Our hydroxyl technology is dispersed throughout the environment in which it operates, thereby sanitizing all surfaces, materials, equipment and the very air itself. It does so through a natural, chemical-free process that is 100% harmless to people, pets and plants.”

(1)   Alshannaq A, Yu JH. Occurrence, toxicity, and analysis of major mycotoxins in food. International Journal of Environmental Research and Public Health. 2017;14(6):632. DOI: 10.3390/ijerph14060632

About Radical Clean Solutions Ltd

Radical Clean Solutions has developed an advanced product line consisting of “smart hydroxyl generation systems” focused on numerous industry verticals that is proven to eliminate 99.99+% of all pathogens, virus, mold, volatile organic compounds (VOCs) and allergy triggers. Applications for the system range from home, office, medical and senior care facilities to restaurants, transportation and more. Radical’s goal is to create a safe and healthy world, especially in light of the recent COVID pandemic.

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: (AgriForce)
Ian Pedersen
Tel: (604) 757-0952
Email: ipedersen@agriforcegs.com

Company Contact: ( Radical Clean Solutions )
Roger M. Slotkin, CEO
Email: rms@radicalcleansolutons.com

Investor Relations:
Crescendo Communications, LLC
David Waldman/Natalya Rudman
Tel: (212) 671-1021
Email: AGRI@crescendo-ir.com

Media Relations:
AHA Creative Strategies Inc.
Ruth Atherley
Tel: (604) 846-8461
Email: ruth@ahacreative.com

 

FAQ

What is the significance of AgriFORCE's licensing agreement with Radical Clean Solutions?

The agreement allows AgriFORCE to commercialize hydroxyl generating devices to combat pathogens in agriculture and food manufacturing, improving crop yields and food safety.

How does hydroxyl technology benefit crop production?

Hydroxyl technology eliminates airborne and surface-based mold and bacteria, which are known to affect crop quality and yield.

What pathogens does AgriFORCE's new technology target?

The technology specifically targets mold, bacteria like E. coli and Salmonella, and airborne viruses including COVID-19.

When was the licensing agreement announced?

The licensing agreement was announced on February 22, 2022.

What are the ticker symbols for AgriFORCE?

AgriFORCE is listed under NASDAQ: AGRI and AGRIW.