AgriFORCE Growing Systems Ltd (NASDAQ:AGRI) has received a Notice of Allowance from the Canadian Intellectual Property Office for its patent application titled “Structures for Growing Plants.”
AgriFORCE is an AgTech company focused on developing and acquiring crop production know-how and intellectual property augmented by advanced AgTech facilities and solutions.
Why It Matters: The allowed patent application for AgriFORCE GrowHouse has 20 claims for different features relating to structures for growing plants.
It includes transmissive panels that maximize the full light spectrum, automation, Internet-of-Things technologies, artificial intelligence, enhanced insulation for maximized energy efficiency, and a sealed, positive pressure environment for optimum management of crop cultivation.
The Company has another patent family for automated growing systems, for which the allowance is expected to follow soon.
Recently, AgriFORCE announced a binding letter of intent to acquire tissue culture propagation company Deroose Plants NV for $69 million.
Price Action: AGRI shares traded 1.65% higher at $2.46 during premarket trading on the last check Wednesday.
