AGRI - AgriFORCE Signs MoU With The Government Of Barbados To Conduct Feasibility Study And Deploy Proprietary Agricultural Facilities In The Caribbean
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By David Willey, Benzinga
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AgriFORCEGrowing Systems Ltd. , (NASDAQ: AGRI) has signed amemorandum of understanding (MOU) with the government of theCaribbean island, Barbados, that will have the company providing amarket evaluation and potentially developing its proprietaryfacilities to strengthen the island’s food supply.
The Caribbean Community(CARICOM) faces chronic food shortages, with food imports making up 20%of its imported merchandise – a percentage double that ofthe European Union. The tropical climate has traditionally presentedchallenges to local agricultural efforts, making food security a majorconcern, and with overhalf the CARICOM population currently facing moderate tosevere food shortage.
This underscoresthe urgency of agricultural technology (AgTech) company AgriFORCE’smission to bring controlled environment agriculture (CEA) to Barbadosand the wider Caribbean region. The company hopes to improve foodsecurity in Barbados through the introduction of controlledenvironment agriculture. CEA harnesses tools like micropropagation,fertigation, and artificial intelligence to grow produce withinmonitored settings, meaning it can harvest more produce using lessresources. AgriFORCE, set to be a leading company in the AgTechindustry, has a robust intellectual property (IP) portfolio andproprietary facilities that it hopes this MOU will leverage forlong-term solutions in Caribbean agriculture.
HarnessingAgri’s Expertise With The MOU
AgriFORCE will be working with Delphy, a scheduledacquisition of a premier agricultural consultancy, to conducta feasibility and technical study by the summer of 2023 that willinvestigate CEA capabilities for fruit and vegetable growth in theregion. After the study, it is expected that AgriFORCE will enter intoa definitive agreement to establish its proprietary facilities for thegrowth of agricultural produce in the region.
This agreement is inaddition to anearlier announced collaboration with Caribbean companyHumboldt Bliss Ltd. to supply its proprietary design as well as itsgrowth facility, the AgriFORCE “Grow House”. These combinedannouncements signal AgriFORCE’s international capabilities forproviding modern agricultural solutions based on its IP specialty andsophisticated CEA facilities.
AgriFORCE believes it is well-equipped to bring CEAto Barbados and the wider Caribbean. The CEA solutions it will provideto Barbados are poweredby its four pillars of facility and lighting design,automation and artificial intelligence, nutrients, micropropagation,and genetics. These pillars are built on firm IP foundations and asophisticated strategy that has invested in research and development(R&D) and cutting-edge AgTech knowledge.
“We look forward tocommencing this important feasibility and technical study with theGovernment of Barbados for CEA food production facilities,” saidAgriFORCE CEO Ingo Mueller. “This collaboration is anothersignificant step in what we hope to be a meaningful and long-termopportunity in Barbados. We look forward to working closely with theGovernment of Barbados and its agencies to address the challenges ofnutrition, wellness, and food security in the region.”
Other companies in theAgTech space include FMC Corp. (NYSE: FMC), GP Solutions,Inc. (OTC: GWPD), and Hydrofarm Holdings Group Inc. (NASDAQ: HYFM).
Interested in learning more? Visit the company’s website for more info.
This articlewas originally published on Benzinga here .
AgriFORCEGrowing Systems Ltd. (NASDAQ: AGRI; AGRIW) is an agtech companyfocused on building an integrated agtech platform that combines thebest technology, intellectual property and knowledge to solve anurgent problem – providing the best solutions to help drivesustainable crops and nutritious food for people around the world.Looking to serve the global market, the Company’s current focus ison North America, Europe and Asia. The AgriFORCE vision is to be aleader in delivering plant-based foods and products through anadvanced and sustainable agtech platform that makes positive change inthe world—from seed to table.
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