AgriFORCE Forms Joint Venture with Agrigrada, a Premier Agricultural and Agro-Industrial Consulting Company
07 Giugno 2023 - 4:37PM
AgriFORCE Growing Systems Ltd. (“the Company”) (NASDAQ:
AGRI; AGRIW), an intellectual property (IP)-focused agtech
company dedicated to advancing sustainable cultivation practices
and food and plant products, today announced that it has formed a
joint venture with Agrigrada sarl, a Swiss management and
consulting company with extensive experience in the agricultural
and agro-industrial industries. Agrigrada has worked with some of
the largest plantation companies in the world and brings know-how
in developing and managing sustainable agroforestry projects,
including active operations in Africa and the USA.
The joint venture is expected to help maximize AgriFORCE’s
in-progress acquisition plans. Furthermore, Agrigrada’s expertise
will help address opportunities in agro-industrial crops and add to
AgriFORCE’s current knowledge portfolio, while opening the door to
certain commercial opportunities in Africa as well as other markets
to identify and pursue strategic opportunities to assist in driving
sustainable production of plant-based products.
Under the agreement, AgriFORCE will have a controlling share of
the joint venture.
Joining the joint venture as part of Agrigrada is Luc Boedt,
PhD, a seasoned executive with extensive experience in the
agriculture and pharmaceutical industries. Prior to Agrigrada, Mr.
Boedt held senior executive positions at SocFin, a leading
agribusiness company with operations in Africa, Asia, and South
America. During his tenure at SocFin, he was responsible for
overseeing the company's operations in several countries, including
Ivory Coast, Ghana, Liberia, Guinea, Congo, Cameroon, Nigeria, Sao
Tome, Sierra Leone, Indonesia and Cambodia, and managed
relationships with local governments and communities. Under his
leadership, the company achieved significant growth in its African
operations, with revenues increasing by over 50% and profits
increasing by over 70% over the period. Mr. Boedt also played a key
role in developing the company's sustainability strategy, which
included initiatives to reduce water usage and increase
biodiversity on its plantations.
Luc Boedt commented, "We are excited to partner with AgriFORCE
to bring cutting-edge agroforestry technologies to Africa and
Southeast Asia. This joint venture will allow us to leverage our
experience in sustainable agriculture and work with AgriFORCE to
develop new solutions that will benefit farmers and communities
across the continent."
Ingo Mueller, CEO of AgriFORCE, added, "We are highly encouraged
by this joint venture and believe it will help us maximize our
acquisition strategy and accelerate the development of our business
in Africa and Southeast Asia. Given Agrigrada’s successful history
and Luc’s impressive background, we believe there are vast
opportunities in the industry to leverage Agrigrada’s expertise in
sustainable agroforestry and bring cutting-edge technologies to
farmers and communities around the world. We look forward to
working closely with Luc and his highly skilled team."
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.
ABOUT AGRIGRADA
Agrigrada is a dynamic agri-industrial company dedicated to the
development and revitalization of large-scale agricultural
projects. With a diverse and skilled multidisciplinary team,
boasting extensive expertise across Northern America, Africa, Asia,
and Europe, Agrigrada is committed to integrating cutting-edge
technologies into the realm of large agricultural plantations,
enhance productivity, maximize resource utilization, and foster
environmentally friendly practices throughout the industry.
Additional information about Agrigrada and its portfolio of
projects is available at www.agrigrada.com.
Follow AgriFORCE on Twitter: @agriforcegsFollow AgriFORCE
on Facebook: AgriFORCE Growing Systems Ltd.Connect with
AgriFORCE on LinkedIn: AgriFORCE Growing Systems Ltd.
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.
Company Contact:Ian PedersenTel: (604)
757-0952Email: ipedersen@agriforcegs.com
Investor Relations:Crescendo Communications,
LLCDavid Waldman/Alexandra SchiltTel: (212)
671-1021Email: AGRI@crescendo-ir.com
Media Relations:PeppercommHannah RobbinsTel:
(415) 633-3205Email: AgriFORCE@peppercomm.com
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