AgriFORCE Granted Chinese Patent for Developmental Automated Growing Systems
Rhea-AI Summary
AgriFORCE Growing Systems (NASDAQ: AGRI) has been granted Patent #CN 202080073940.7 for "Automated Growing Systems" by the China National Intellectual Property Administration. This patent complements the U.S. patent granted in June 2024, enhancing the company's global IP portfolio in AgTech. The patented system features a channel assembly for growing plants using specialized troughs, conveyor belts, cranes, and lights within a fully enclosed trussed greenhouse.
The innovative design maximizes space usage by replacing walkways with conveyors and robotics, potentially increasing crop production per square foot. The system can transport seedlings from one end of the greenhouse to the other for harvest, with robotics capable of moving plants between troughs or removing them. The design aims to reduce labor in farming while optimizing electricity usage through a combination of sunlight, LED lights, and heat exchangers.
Positive
- Granted Chinese patent for Automated Growing Systems, expanding global IP portfolio
- Innovative greenhouse design potentially increases crop production per square foot
- System aims to significantly reduce labor costs in farming
- Design optimizes electricity usage through combined use of sunlight, LED lights, and heat exchangers
- Patented technology applicable to various crops including berries, leafy greens, tomatoes, and herbs
Negative
- None.
Insights
The granting of this Chinese patent for AgriFORCE's automated growing systems represents a significant technological advancement in agricultural innovation. The patented system's key features, including specialized troughs, conveyor belts, cranes and AI-enabled robotics, showcase a highly efficient and space-optimizing design.
This technology has the potential to revolutionize greenhouse farming by maximizing crop production per square foot and reducing labor costs. The system's ability to create controlled microclimates could enable crop cultivation in previously unsuitable environments, potentially expanding global food production capabilities.
However, the real-world implementation and scalability of this technology remain to be seen. Investors should monitor the company's progress in commercializing this innovation and its adoption rate among farmers and agribusinesses.
The Chinese patent grant strengthens AgriFORCE's global intellectual property portfolio, potentially opening doors to the vast Chinese agricultural market. This move aligns with the growing trend of agricultural technology adoption in China, where there's an increasing focus on food security and sustainable farming practices.
However, investors should consider the competitive landscape in the AgTech sector, particularly in China. The success of AgriFORCE's technology will depend on its ability to differentiate from existing solutions and overcome potential regulatory hurdles in the Chinese market.
While the patent is promising, it's important to assess the company's financial position and commercialization strategy to gauge the potential impact on shareholder value. The market's response to this news will be telling of investor confidence in AgriFORCE's long-term prospects.
Patent bolsters the Company’s global agricultural IP portfolio
VANCOUVER, British Columbia, Aug. 20, 2024 (GLOBE NEWSWIRE) -- AgriFORCE Growing Systems Ltd. (the “Company”) (NASDAQ: AGRI; AGRIW), an intellectual property (IP) focused AgTech company, announces the granting of Patent #CN 202080073940.7 titled, “Automated Growing Systems” by the China National Intellectual Property Administration. The patent follows the grant of the corresponding U.S. patent announced in June 2024 and adds to the Company’s global intellectual property portfolio connected to agriculture and agribusiness.
Company CEO, Jolie Kahn, stated, “The fully enclosed nature of our patented trussed greenhouses enables us to create microclimates in climates that may not be conducive to certain plant growth. When combined with our proprietary automated growing system we believe the potential for agricultural innovation – as well as innovation beyond the agricultural space – will help drive long-term shareholder value for all our stakeholders.”
The patent covers a channel assembly for growing a plurality of plants utilizing specialized troughs, conveyor belt, cranes and lights. The overall greenhouse design removes walkways and instead utilizes conveyors and robotics to maximize space usage and thus increases crop production per overall square foot. The system, using a conveyor, transports the seedlings from one end (point A) of the greenhouse to the other end (point B) for harvest inside the Company’s patented fully enclosed trussed greenhouse structure. Additionally, there are robotics above the plants capable of moving plants from one trough to the next or remove and dispose of the plants all together. A potential component of this automation would be to supplement the design with cameras to allow for AI identification and harvesting of plants that are ill, slowly growing, or not commercially viable.
The intention of this design is to significantly reduce labor in farming while limiting the electricity usage by utilizing the sun, led lights and heat exchangers to maintain a constant environment. Each component of the automation may be used independently of each other, depending on the circumstances. The greenhouse is designed for certain crops, including but not limited to berries, leafy greens, tomatoes, herbs, ornamental plants and starter plants.
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.
Follow AgriFORCE on Twitter: @agriforcegs
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Connect with AgriFORCE on LinkedIn: AgriFORCE Growing Systems Ltd.
Forward-Looking Statements
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.
Investor Relations:
Richard Wong, CFO
rwong@agriforcegs.com
CORE IR
investorrelations@agriforcegs.com
FAQ
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