AUS
NZ
UK
CA
USA
IND
_01_22_2025_07_55_26_045637.jpg)
On 4 April 2019, an Israel based agricultural technological company, Roots Sustainable Agricultural Technologies Limited (ASX:ROO) announced about procuring a second sale of the companyâs Root Zone Temperature Optimisation (RZTO) heating and cooling technology in the USA to independent cannabis producer Mr Ivo Lopez of Mendocino Natural Farms, based in North California.
Mendocino Natural Farms is into the production and processing of cannabis as well as a member of the Round Valley Cooperative in âThe Emerald Triangleâ and holds numerous permits for cultivation.
RZTO technology makes effective use of plant functioning for amplified growth and excellence by turning the plantâs root zone temperature at a stable position. The technology makes effective use of Ground Source Heat Exchange (GSHE) principle. Roots mount a closed-loop pipes mechanism. The lower coils are installed at a penetration, where soil temperature is steady and remains unimpacted by extreme weather conditions. The upper coils are installed in the targeted cropâs root zone beneath the surface of the soil. The water flowing by the lower pipes is charged by the soilâs unchanging temperature. The hot (or cold) water is pumped via the pipes mounted in the root zone, where the heat (or cold) is released.
The sale of A$42,300 (US$30,000) comprises of ROO installing its proprietary RZTO cooling and heating system, in multiple 1,000 square foot hoop houses at Mendocino Natural Farmsâ property in Round Valley, California. RZTO will be installed in 2 phases: In the first phase, the installation of a heat pump for root zone heating will be done. In the second phase, coils would be inserted at depth, for root zone cooling using the principles of GSHE.
The RZTO cannabis sale is the companyâs second sale, in less than a monthâs time in the North American cannabis market.
The previous sale was made to industry leader, Mr Tim Blake during late March 2019. One of the reasons behind the back to back sales is the outcome of ROOâs Technology Showcase which took place in North America during February 2019.
Also, there was a successful open field RZTO heating pilot on cannabis in Washington State, which took place in an autumn growing conditions, when there are heavy frosts, and temperature slips negative.
Dr Sharon Devir, ROOâs CEO commented that the company continues to strategically aim at the North American cannabis sector, with its sustainable agricultural technology heating and cooling solutions, catering to the industry-wide shifts towards external cannabis production. He further added that the companyâs root zone technology allows the cultivators to curtail the effect of external weather conditions, while substantially decreasing capital and operational outlays.
Mr Ivo Lopez, MD, Mendocino Natural Farms stated that the companyâs root zone heating, and cooling technology was a perfect fit for Mendocino Natural Farms. The technology also aids towards its commitment to low-impact farming method. He further said that Root technology would enable Mendocino Natural Farms to sustainably augment the quality of the plant, yield, provide an extension to its growing season, and an ability to go on with the cultivation in the winter months.
In January 2019, the company announced that it had gained A$278k sale from Dagan Agricultural Automation for second China project.
By the end of the trading session, the stock of the company stood at a price of A$0.115 (as on 4 April 2019), up by 9.524% from its previous dayâs close. The company has a market capitalisation of around A$6.89 million, with approximately 65.62 million shares outstanding.
Disclaimer
This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.
