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- Sustainable agriculture stalwart Roots (ROO) has delivered an exclusive contract with Italian ag-tech distributor Cairo & Doutcher
- The distributor has committed to sell at least five of Roots’ Root Zone Temperature Optimization (RZTO) systems in Italy within the year
- Roots’ technology stabilises soil temperature with hot and cold water to create higher quality, more productive crops
- The new agreement is forecast to deliver at least €3.5 million in sales between now and 2023
- Roots is up 19.4 per cent on the market, and shares are trading for 4.3 cents apiece
Sustainable agriculture stalwart Roots (ROO) has dug in and delivered an exclusive contract with Italian ag-tech distributor Cairo & Doutcher.
In an announcement released today, the company said Cairo and Doutcher has committed to sell at least five of Roots’ Root Zone Temperature Optimization (RZTO) systems in Italy within the year.
“This binding distribution agreement is a testimony to the growing viability of RZTO technology and the interest it is generating around the world,” says Roots co-founder and director Dr Sharon Devir.
“Italy is an important agricultural producer for the EU and it is a versatile market with great potential for our RZTO’s technology. Cairo & Doutcher share this enthusiasm for the technology and the sales targets they have set reflect this,” Sharon continued.
The exclusive contract is expected to generate at least €3.5 million in sales between now and 2023.
According to Roots, the RZTO technology aims to maintain optimum root temperature and protect the productivity and quality of agricultural crops.
Ground temperatures are stabilised as hot or cold water is pumped through a series of underground pipes, which heat or cool the soil as required to help the developing roots grow.
Roots’ contract with Cairo & Doutcher follows recent testing of the RZTO technology, conducted at Cairo’s Italian greenhouse last Autumn.
Roots CEO and chairman Boaz Wachtel added the agreement would help the company secure a strong foothold in the crucial Italian market and deliver consistent sales.
“We have an excellent partner that is very well placed to capture the market opportunity. We will surely keep shareholders updated on progress here and with positive commercial developments that are materialising in other markets and sectors,” Boaz said.
Roots is up 19.4 per cent on the market following today’s news. Shares are trading for 4.3 cents apiece at 11:34 am AEDT.
