WPFH Subsidiary GrocerIQ Signs Definitive Agreements to Develop and License Grocery Redemption Technologies

Rhea-AI Summary

GrocerIQ, a subsidiary of WPF Holdings (WPFH), has signed definitive agreements to develop and license advanced grocery redemption technologies. The company will implement two key initiatives: a Grocery Store Redemption Program for voucher management at a Southern California grocery chain, and a Farmers Market Produce Redemption Program targeting Los Angeles County farmers markets.

The company has also secured a licensing agreement to distribute its grocery redemption technologies to additional grocery chains and markets nationwide, which is expected to generate significant revenue. These scalable solutions are designed to expand to other food assistance programs and farmers markets across the country, integrating AI technology to create smarter grocery ecosystems that improve accessibility for underserved populations while supporting local farmers and markets.

Positive

• Secured licensing agreement expected to generate significant revenue stream
• Expansion potential through scalable solutions for nationwide deployment
• Strategic entry into Southern California grocery chain market
• Development of two distinct market solutions (grocery stores and farmers markets)

Negative

• None.

LOS ANGELES, CA / ACCESS Newswire / January 16, 2025 / GrocerIQ, Inc., an AI technology company specializing in grocery solutions and a wholly-owned subsidiary of WPF Holdings, Inc. ("WPFH"), has signed definitive agreements to both develop and license advanced technologies aimed at improving grocery redemption systems and expanding food accessibility. These strategic initiatives highlight GrocerIQ's commitment to addressing critical challenges in the grocery sector while fostering long-term growth and innovation.

Key Initiatives Under the Definitive Agreements:

• Grocery Store Redemption Program: As part of the agreements, GrocerIQ will develop a technology platform that enables qualified individuals to seamlessly receive and redeem grocery vouchers. This program will initially be deployed at a Southern California grocery chain, providing greater access to essential groceries for underserved populations.

• Farmers Market Produce Redemption Program: Another key initiative outlined in the agreements is the creation of a platform to support voucher management and redemption at local farmers markets in Los Angeles County. This effort will increase the availability of fresh, locally sourced produce while supporting local farmers and strengthening community ties.

• Licensing Grocery Redemption Technologies: GrocerIQ has also signed an agreement to license its innovative grocery redemption technologies, allowing broader adoption by additional grocery chains and markets nationwide. This licensing agreement is expected to generate a significant revenue stream for GrocerIQ, further supporting its mission to drive technological advancements and expand its reach.

The technologies being developed and licensed under these agreements are an integral part of GrocerIQ's business model. These scalable solutions are designed to extend to other food assistance programs and farmers markets across the country, ensuring accessibility and efficiency on a broader scale. By embedding adaptability and sustainability into its core operations, GrocerIQ is creating a blueprint for the future of grocery retail.

GrocerIQ is actively integrating solutions into the foundation of the grocery retail landscape. Its innovative platforms simplify the shopping experience for consumers, enhance operational efficiency for businesses, and promote sustainable practices. By integrating advanced artificial intelligence, GrocerIQ is establishing smarter, more responsive grocery ecosystems that directly address the needs of modern communities.

These definitive agreements underscore GrocerIQ's dedication to creating impactful technologies that connect underserved populations with nutritious food. At the same time, these solutions aim to drive economic growth for local markets and farmers by promoting sustainable and inclusive practices.

About WPF Holdings

As a strategic move, WPF Holdings, Inc. has acquired GrocerIQ, Inc. as a wholly owned subsidiary. WPF Holdings intends to change its corporate name to GrocerIQ Holdings, Inc. and will apply to change its ticker symbol to reflect its new identity. This acquisition underscores WPF Holdings' commitment to supporting GrocerIQ's mission of transforming the grocery retail landscape through advanced AI-driven solutions.

About GrocerIQ

GrocerIQ is an AI technology company focused on transforming the grocery retail landscape. Its innovative solutions simplify the shopping experience for consumers, enhance operational efficiency for businesses, and promote sustainable practices. With a mission to create a smarter, more equitable grocery ecosystem, GrocerIQ is revolutionizing how communities access and experience fresh food.

Investor Relations Contact:
WPF Holdings
info@wpf-holdings.com

SOURCE: GrocerIQ Holdings, Inc.

View the original press release on ACCESS Newswire

FAQ

What are the key initiatives announced in WPFH's GrocerIQ definitive agreements?

GrocerIQ announced two key initiatives: a Grocery Store Redemption Program for voucher management at a Southern California grocery chain, and a Farmers Market Produce Redemption Program for Los Angeles County farmers markets.

How will WPFH's GrocerIQ generate revenue from its new technology?

GrocerIQ will generate revenue through licensing its grocery redemption technologies to additional grocery chains and markets nationwide.

What geographical areas will WPFH's GrocerIQ initially serve?

GrocerIQ will initially serve Southern California through a grocery chain partnership and Los Angeles County through its farmers market program.

What technology is WPFH's GrocerIQ developing for grocery stores?

GrocerIQ is developing an AI-powered technology platform that enables qualified individuals to seamlessly receive and redeem grocery vouchers.

How does WPFH's GrocerIQ plan to expand its technology?

GrocerIQ plans to expand its scalable solutions to other food assistance programs and farmers markets across the country through licensing agreements.