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- Roots Sustainable Agricultural Technologies (ROO) has secured a new sales contract worth approximately $58,000
- The contract for the company’s Root Zone Temperature Optimisation technology is from Israeli medicinal cannabis farm My Green Fields
- Roots will deploy over 1,000 heat exchange probe units, to improve the farm’s current cannabis plant yield
- The company is advancing its expansion into the Middle East, following Israel’s recent peace deals with the UAE and Bahrain
- Roots Sustainable Agricultural Technologies closed 6.9 per cent in the red for 2.7 cents per share
Roots Sustainable Agricultural Technologies (ROO) has secured a new sales contract worth approximately $58,000.
The new contract is for the agricultural company’s proprietary Root Zone Temperature Optimisation (RZTO) technology. Roots received the order from My Green Fields, a medicinal cannabis farm situated in Northern Israel.
Through the sales contract, the company will deploy over 1,000 of its heat exchange probe units at the farm. The probes will be inserted into pots in the farm’s flowering room, and used to supply hot or cold water to larger cannabis plants.
By stabilising the plants’ optimal root zone temperature, the probes will help to improve the farm’s current cannabis plant yield. During previous test work, the probes increased cannabis yields by 20 per cent or more, while plant THC levels stayed in similar ranges.
Roots’ new contract may well herald the beginning of the company’s expansion into neighbouring Middle Eastern countries. The company is advancing its business development initiatives in the region, after recent changes in the political sphere.
In September, Israel signed peace deals with the United Arab Emirates (UAE) and Bahrain, new markets which may provide new opportunities for Roots.
In addition, the United Nations Commission on Narcotic Drugs (UNCD) recently decided to remove cannabis from Schedule IV of the 1961 Drug Convention Treaty.
Roots’ Executive Chairman and CEO, Boaz Wachtel said the company expects sales to continue growing strongly, especially after these recent regulatory shifts.
“The recent decision by the UN and the CJEU have led to a large number of enquiries about our technology and its applicability in the cannabis sector, which will be a major demand driver for RZTO,” he said.
“We are aggressively pursuing a sales and business development initiatives, similar to our technology showcase to Bahrain’s delegation, and we anticipate new market entries and more sales in the coming months,” he added.
Roots Sustainable Agricultural Technologies closed 6.9 per cent in the red, to trade for 2.7 cents per share.
