AgriFORCE Granted Further Patent from the USPTO Related to its FORCEGH+ Facilities
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Insights
The granting of Patent No. 11,895,958 to AgriFORCE Growing Systems Ltd. represents a significant strengthening of the company's intellectual property portfolio in the AgTech sector. The protection of their FORCEGH+ facility design is crucial, as it encompasses a range of innovative features that differentiate the company's offerings in the market. The integration with automated systems and the ability to operate in extreme macro climates are particularly notable, as they suggest a competitive edge in sustainable agriculture technology.
From a legal standpoint, the extension of IP coverage can deter competitors from infringing on these technologies and can also provide leverage in potential licensing deals or partnerships. The patent's duration also ensures long-term exclusivity, which could be factored into the company's valuation by investors. Moreover, the patent's pharma-grade GMP equivalent standards indicate a crossover potential into more regulated industries, which could open additional revenue streams.
The FORCEGH+ technology underlines a significant advancement in controlled-environment agriculture. Its emphasis on sustainability, high-efficiency building envelopes and advanced hydroponics positions AgriFORCE at the forefront of the industry. By maximizing crop yields and eliminating the need for harmful chemicals, the company is not only addressing consumer demand for cleaner produce but also potentially reducing operational costs associated with traditional farming methods.
Investors should note the potential market growth driven by these innovations, as the AgTech industry is rapidly expanding due to global food security concerns and environmental sustainability initiatives. The ability of FORCEGH+ facilities to be deployed in a variety of ecosystems could allow AgriFORCE to tap into new markets and diversify its geographical presence, which is a strong indicator of scalability and resilience in the face of climate change.
The announcement by AgriFORCE may have implications for the company's market position and investor perceptions. The patent grant not only secures the company's technology but also serves as a signal to the market of AgriFORCE's commitment to innovation and growth. The potential for increased market share and entry into new markets could positively impact the company's financial performance.
Furthermore, the focus on sustainability and the elimination of pesticides aligns with increasing consumer and regulatory pressures for environmentally friendly practices. This alignment with market trends could enhance the company's brand and product desirability, potentially leading to increased sales and a stronger competitive position. Investors often look for companies that are well-positioned to capitalize on market trends and AgriFORCE's recent patent achievement could be an indicator of such positioning.
VANCOUVER, British Columbia, Feb. 16, 2024 (GLOBE NEWSWIRE) -- AgriFORCE Growing Systems Ltd. (“the Company”) (NASDAQ: AGRI; AGRIW), an intellectual property (IP) focused AgTech company, today announced that on February 13, 2024, the USPTO granted Patent No. 11,895,958 entitled "STRUCTURES FOR GROWING PLANTS (TO GENERATE MICRO-ENVIRONMENT CONDITIONS)" to the Company.
This continuation patent covers the innovative FORCEGH+ facility design, including its ability to integrate with different automated systems. This patent expands on the Company’s previously announced patent related to its FORCEGH+ facilities. FORCEGH+ is the Company’s proprietary grow facility design, a sustainable methodology and environment, including in extreme macro climates, for growing optimized crops through Good Manufacturing Practices (GMP) equivalent pharma-grade standards. FORCEGH+ facilities are designed as advanced AgTech, high efficiency building envelopes developed through proprietary engineering and materials. FORCEGH+ advantages include facility designs that harness solar power; advanced hydroponics providing precise and consistent high yield crop growth cycles; and the ability to be deployed in a variety of ecosystems. The Company has developed FORCEGH+ with the intent to optimize crop yields to as near maximize genetic potential, while eliminating the need for pesticides, fungicides, and herbicides, thereby providing customers with the next-generation of controlled-environment agriculture.
“We see the benefits of adding another key U.S. patent around our FORCEGH+ technology, which significantly expands the scope of coverage and extends the timeline around our IP,” commented Richard Wong, Chief Financial Officer of AgriFORCE.
ABOUT AGRIFORCE
AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW) is an AgTech company focused on building an integrated AgTech platform that combines the best technology, intellectual property, and knowledge to solve an urgent problem – providing the best solutions to help drive sustainable crops and nutritious food for people around the world. The AgriFORCE vision is to be a global leader in delivering plant-based foods and products through an advanced and sustainable AgTech platform that makes positive change in the world—from seed to table. 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. 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:
Mauro Pennella, President Brands and CGO, mpennella@agriforcegs.com
FAQ
What patent was granted to AgriFORCE Growing Systems Ltd.?
What is the key feature covered by the new patent?
What are the advantages of FORCEGH+ facilities?
Who commented on the new patent grant?
What is the goal of developing FORCEGH+ technology?
