Israel-based, Roots Sustainable Agricultural Technologies Ltd (ASX: ROO) is an industrial sector company that has developed highly advanced technologies and commercialising the same to address the vital issues presently being faced by the stakeholders in the agriculture industry. Roots has the proprietary know-how with patents in place to maximise the advantages to the farmers so that they can deal with scarcity of water for irrigation, manage plant climate, reduce installation costs, and lower energy consumption.
Roots’ two key disruptive, modular, cutting-edge Technology Offerings are:
New Order for Heat Exchange Stub
On 2 October 2019, Roots announced to have received an AUD 87,000 signed order of its RZTO technology combined with its newly developed patent-protected heat exchange stub from Israeli cannabis producer UNIVO to control soil temperatures in pots and grow bags.
About UNIVO- UNIVO is a vertically integrated medical cannabis company engaged in cultivation, manufacturing and distribution as well as development of unique next gen medical cannabis products.
The company is licensed for the entire supply chain including growing, breeding and nursery; production of medical cannabis products; research & development as well as distribution.
UNIVO will source its own cannabis through a partnership agreement with Amit Farms, spanning across 75,000 m², with 15,000 m² designated for cannabis growth, located in the South of Israel. The farm has state-of-the art innovative agricultural technologies installed to grow high-quality cannabis and develop its own strains targeted to meet specific therapeutic needs.
Agreement Details- According to the agreement, Roots would utilises use its heat exchange stub for installing RZTO technology into thousands of cannabis pots at UNIVO’s growing facilities in Israel. Installation is scheduled to begin in October 2019 with completion targeted for end of the year.
- The stub technology largely reduces the installation and maintenance costs of Roots’ RZTO technology
- The process involves temperature-controlled water entering the T-shaped stub from the side, flowing down the vertical shaft exchanging heat with the substrate, before exiting the stub on the other side
- The stub allows easy movement of pots and grow bags during and between growing cycles while chains of stubs with insulated pipes in-between can even be used for row installations
The heat exchange stub has recently been developed to cater primarily to the nursery, cannabis and greenhouse markets, as announced on 27 September 2019 by the company. Prior to this contract, the company successfully conducted an in-house pilot for stub at its R&D hub in Israel.
Roots’ CEO, Dr. Sharon Devir stated
The company’s RZTO technology has been doing really well with continued expansion into the North American cannabis market.
IBC Technology at Agrivest Event
Roots Sustainable Agricultural Technologies also recently presented its world-class IBC technology, which was nominated in the ‘Best Agtech company’ category, at the prestigious Agrivest event in Israel attended by the independent committee of Israeli business and industry leaders, international investors and government representatives.
Agrivest is one of the biggest Agtech rendezvous in Israel, where hundreds of industry stakeholders including investors and global agriculture experts show up. This year was attended by companies from over 20 countries.
Roots co-founder and Executive Director, Mr Boaz Watchel, stated
Roots Sustainable Agricultural Technologies Ltd has a market cap of ~ AUD 4.18 million with ~ 90.97 million shares outstanding. On 3 October 2019, the ROO stock closed the day’s trading at AUD 0.043.
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