AgriFORCE’s Recent Acquisition of Radical Clean Solutions (RCS) Marks Company’s Initiation of Expansion Beyond AgTech
RCS provides opportunities for diversification into new markets and verticals as well as potential augmented sources and drivers of revenue.
VANCOUVER, British Columbia, Sept. 17, 2024 (GLOBE NEWSWIRE) -- AgriFORCE Growing Systems Ltd. (the “Company”) (NASDAQ: AGRI), an intellectual property (IP) focused technology company, highlights new paths for growth following its recently announced acquisition of Radical Clean Solutions (RCS) and its patent-pending technology proven to eliminate pathogens molds, virus and volatile organic compounds in contained environments without the use of harmful chemicals.
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.
Roger Slotkin, founder and president of AgriFORCE’s RCS division, stated, “The Hydroxyl Technology is expandable to a variety of markets and verticals beyond the initial application of agriculture and food storage. While the technology’s original uses surrounded the extension of the life of produce which normally experiences natural degradation due to naturally-occurring ethylene and airborne pathogens, we see additional applications that could have impact on educational and hospitality structures, transportation, travel, public health and public safety, as well as creating better environments to preserve the quality and value of goods from both a manufacturing and storage perspective.”
This technology is environmentally friendly and compatible with people, pets and plants. RCS has harnessed the power of hydroxyl radicals in controlled indoor environments, allowing for the broad-spectrum disinfection and decontamination without the use of toxic chemicals. While initially applied to agribusiness and food storage facilities, the Company is actively pursuing additional applications for the technology where airborne pathogens would present significant impact on life or materials. Key applications include:
- Healthcare - Hospitals, assisted living facilities, clinic environments of all sizes where pathogens may affect the short- or long-term health of residents and/or staff and where healthy or even sterile environments are essential for operations.
- Education - Healthy school environments, as commercial operations, are particularly important as they prevent the human spread of these pathogens to other environments, potentially heading off the spread of disease (e.g., potential new pandemic).
- Business and commercial - Purify air at facilities where people gather to work and conduct commerce, including office and retail shops.
- Storage facilities – RCS has applications at warehouses and other facilities where both living beings and inanimate objects need protection from pathogens for their health and for the preservation of the quality and integrity of the materials stored within. This is of particular value in larger warehouses and self-storage facilities where mold and other pathogens can destroy valuable property, often costing thousands of dollars.
- Hospitality and Residential - As with the healthcare vertical, hospitality provides a significant opportunity to protect the environment of facilities where people live, vacation, sleep, and revitalize.
RCS offers multiple products that are geared toward the various-sized environments within the multiple verticals that the Company may pursue. Currently, the Company offers four types of units --in-duct units, quad pro portable, trailers and transport units, and wall mount units. The Company believes these will offer customers flexibility and growth with systems tailored to address their specific needs.
Company CEO, Jolie Kahn, stated, “As we look beyond our AgTech roots and continue to strengthen our ability to innovate, it is critical for investors to understand the broader applications existing with respect to the RCS technology. Neutralizing pathogens in contained environments has potentially widespread applications across multiple industries, and we look forward to systematically leveraging that technology’s potential while continuing to seek additional opportunities to develop a foothold in other verticals. We look forward to keeping our stakeholders informed of this commercialization progress as we pursue complimentary technology opportunities that will support the company’s mission to build long-term shareholder value.”
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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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, CFO
rwong@agriforcegs.com
CORE IR
investorrelations@agriforcegs.com
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