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- Roots Sustainable Agricultural Technologies (ROO) has entered a trading halt ahead of a capital raise
- Roots is an Israeli-based company which develops innovative technologies to address various issues in the agriculture industry
- Recently, Roots teamed up with global irrigation control system manufacturer Talgil to access its global network
- The company is also expanding its sales and operations in Israel
- Additionally, it has recently received a notice of allowance for a patent in Turkey, which is the seventh-largest agricultural sector in the world
- Company shares last traded for 2.3 cents on Monday, August 17
Roots Sustainable Agricultural Technologies (ROO) has entered a trading halt ahead of a capital raise announcement.
The company will remain in a trading halt until Monday, August 24, unless the capital raise is announced earlier.
Roots is an Israeli-based agriculture company which develops innovative technologies to address issues such as climate management and shortage of water for irrigation.
Specifically, Roots has developed a two-in-one root zone heating and cooling technology which reduces energy consumption while bringing maximum benefits to farmers. It’s also developing an irrigation by condensation technology.
Recently, Roots teamed up with Talgil which is a global irrigation control system manufacturer. This provides it with access to Talgil’s global network.
Roots’ system is now integrated with Talgil’s SAPIR2 controller which is an internet-enabled, medium-to-large scale, professional irrigation controller that is supported in multiple languages.
The company is also expanding its sales and operations in Israel. It has received a third re-order by one customer and has also installed two paid demonstrations among two new cannabis growers.
Roots expects these installations will lead to sales of systems with much greater coverage area as the demonstration concludes over one or two growing cycles.
Furthermore, the company received a notice of allowances for its design patent in Turkey which is the seventh-largest agricultural sector in the world. Agriculture accounts for 6.1 per cent of Turkey’s gross domestic product (GDP).
“Roots has made excellent progress on a number of fronts and we have significantly strengthened our business and established some excellent catalysts for growth,” Executive Chairman and CEO Boaz Wachtel said.
Company shares last traded for 2.3 cents each on Monday, August 17.
