AgriFORCE Invests in Radical Clean Solutions’ Innovative Food Safety Technology

Rhea-AI Summary

AgriFORCE Growing Systems Ltd. has purchased a 14% stake in Radical Clean Solutions, a company that has developed chemical-free Hydroxyl devices capable of eliminating pathogens in various environments. This investment builds on AgriFORCE's exclusive rights to commercialize RCS' suite of Hydroxyl devices. The technologies are proven to eliminate foodborne pathogens and surface viruses. The first shipments have already been delivered to the Mexico distributor.

Positive

• AgriFORCE's investment in Radical Clean Solutions and the acquisition of exclusive rights to commercialize their Hydroxyl devices can lead to increased revenue and market presence. The proven effectiveness of the technologies in eliminating pathogens and surface viruses can enhance food safety and operational efficiency in various facilities.

Negative

• None.

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

Food contamination costs the US Economy over $18 billions of dollars per year⁽¹⁾

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

VANCOUVER, British Columbia, Oct. 04, 2023 (GLOBE NEWSWIRE) -- AgriFORCE Growing Systems Ltd. (“the Company”) (NASDAQ: AGRI; AGRIW), an intellectual property (IP)-focused AgTech company, today announced it has purchased a 14% stake in Radical Clean Solutions (“RCS”). RCS, under the leadership of Roger Slotkin, has developed and is commercializing a suite of proprietary and patent-pending chemical-free Hydroxyl devices that are proven to eliminate pathogens, mold, mildew and VOCs in food production facilities, indoor farms and medical, commercial and home environments.

Hydroxyl technology produces hydroxyl radicals that break down and oxidize pollutants at a molecular level. The hydroxyl radicals then quickly revert back to oxygen and hydrogen, leaving no toxic residues. RCS technologies are powered and integrated using RCS’ proprietary IOT platform that provides real-time data and analytics on device performance, utilization, and compliance.

Mauro Pennella, President AgriFORCE Brands stated, "Investing in RCS builds on our previously acquired worldwide rights to exclusively commercialize RCS’ suite of Hydroxyl devices, management systems and processes in controlled environment agriculture (“CEA”) and food manufacturing, warehousing and distribution facilities, as well as a co-ownership of the pending patent for CEA. We believe that RCS’ chemical-free technologies could become a critical component for helping reduce food spoilage, ensuring maximum food safety, employee health and operational efficiency for any facility at which they are deployed. RCS’ technologies are proven to eliminate foodborne pathogens like Salmonella, E. coli, and Listeria, as well as airborne and surface viruses like Norovirus, common colds and the Flu ^{(2) (3)}. I am especially pleased to report that our first shipments have already been delivered to our Mexico distributor, DESICO.”

Roger M. Slotkin, CEO of Radical Clean Solutions, added: “We at RCS are proud to strengthen our relationship with AgriFORCE, which is already our exclusive, worldwide licensee for the marketing, sale and distribution of our products to the CEA 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)      USDA, Economic Research Service (ERS) using data from ERS Cost of Foodborne Illness Data Product, U.S> Bureau of Economic Analysis, and U.S. Department of Labor, Bureau of Labor Statistics.

        (2)      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

        (3)      BCI Labs, GainesVille Florida, Microbial reduction efficacy using laboratory disinfection testing protocol by ISO 17025:2017 accredited lab. Methodology based on ASTM E2315.

About Radical Clean Solutions Ltd

Radical Clean Solutions has developed an advanced and patent-pending product line consisting of “smart hydroxyl generation systems” focused on numerous industry verticals and 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 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:
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Tel: (212) 671-1021
Email: AGRI@crescendo-ir.com