AgriFORCE Receives Patent
Allowance from the United States Patent and Trademark Office
Related to its Proprietary Process and Technologies for the
UN(THINK) Foods Brand
Patent further strengthens Company's
extensive IP portfolio and covers the unique process for naturally
processing grains, pulses into highly nutritious flours under the
UN(THINK) TM
Foods Brand
UN(THINK) TM Foods wheat flours have significantly higher
fiber and proteins and lower starch, while providing great
taste
VANCOUVER,
British Columbia – November 29, 2022 – AgriFORCE
Growing Systems Ltd. ("the
Company") (NASDAQ: AGRI; AGRIW), an intellectual
property (IP)-focused AgTech company dedicated to advancing
sustainable cultivation and crop processing across multiple
platforms, today announced it has received a patent allowance from
the United States Patent and Trademark Office (USPTO) related to
the Company's proprietary processes and technologies for processing
ancient, heritage and modern wheat, grains, seeds, beans, legumes,
tuber and root vegetables into low starch, low sugar, high
protein and fiber rich consumer products.
With
wheat accounting for 20% of worldwide caloric
consumption1,
and flour and bakery products representing a $200 billion dollar
market in the U.S.2,
AgriFORCE's UN(THINK) Foods aims to fill the existing gap for
healthy alternatives without compromising on taste or texture.
UN(THINK)'s revolutionary technology and process results in non-GMO
and 100% natural baking and bread flours with superior
nutrition3,
with pancake mixes, breads, pastas, and more currently under
consideration and development. A consumer survey conducted by
Brodeur Partners in December 2021 with 1,000 respondents across the
United States, confirmed strong interest among millennials to
purchase a flour alternative delivering enhanced nutrition while
maintaining taste and texture, with 50% of millennials surveyed
willing to pay a premium of 50% or more for such a product. The
findings also revealed that 56% of millennials are using flour
regularly at home, with 88% consuming flour-based products at least
twice per week4.
"UN(THINK)TM will
offer products for consumers and a premium branded ingredient for
manufacturers to improve their products the bakery, pasta and snack
categories" says Hernando Ruiz-Jimenez, General Manager UN(THINK)
Foods. He added: "Further, the no-waste process allows us to
recuperate a sweet liquid which could be used in high-performance
drinks, nutrition bars and other categories that will cater to the
highly motivated and growing demographic of wellness-focused
millennials and health-conscious baby boomers."
"We
are pleased to be continually adding to our intellectual property
portfolio and we believe this granted patent further differentiates
AgriFORCE from others in the industry," commented Mauro Pennella,
President AgriFORCE Brands. "Our goal is to redefine specialty
flour and grain-based products with our innovative ingredients to
provide great tasting foods without compromising the nutritional
value or standard texture for consumers. This patent comes at an
ideal time as we are on track to launch our first branded product
under the UN(THINK)TM brand by the end of 2022. We believe our
products and ingredients contain the potential to revolutionize the
way consumers think and feel about foods they love."
1. Food and Agriculture Organization
of the United Nations – 2011 Report
2. Grand View Research Reports, San
Francisco CA, 2018 Estimates
3. As per tests conducted by Eurofins
Food Chemistry Testing Madison, Inc., January 2022
4. AgriFORCE UN(THINK) Consumer
Survey, conducted by Brodeur Partners, November 2021
About AgriFORCE
AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW) is an AgTech
company focused on the development and acquisition of crop
production know-how and intellectual property augmented by advanced
AgTech facilities and solutions. Looking to serve the global
market, the Company's current focus is on North and Central
America, Europe, and Asia. The AgriFORCE vision is to be a leader
in delivering plant-based foods and products through advanced and
sustainable AgTech solution platforms that make positive change in
the world—from seed to table. The AgriFORCE goal: Clean. Green.
Better. Additional information about AgriFORCE is available at:
www.agriforcegs.com.
Follow AgriFORCE on Twitter:
@agriforcegs
Follow AgriFORCE on Facebook:
AgriFORCE
Growing Systems Ltd.
Connect with AgriFORCE on
LinkedIn: AgriFORCE
Growing Systems Ltd.
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.
Company
Contact:
Ian Pedersen
Tel: (604)
757-0952
Email:
ipedersen@agriforcegs.com
Investor
Relations:
Crescendo Communications,
LLC
David Waldman/Alexandra
Schilt
Tel: (212)
671-1021
Email:
AGRI@crescendo-ir.com
Media
Relations:
Peppercomm
Hannah Robbins
Tel: (415) 633-3205
Email: AgriFORCE@peppercomm.com