Roto-Gro enters key deal with biotech firm to gain foothold in Thailand
Health & Biotech
Health & Biotech
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Roto-Gro is kicking off the new year by building on a transformative 2021, with a key partnership for a prospective venture in Thailand.
Advanced agritech Roto-Gro International (ASX:RGI) has partnered with multinational industrial biotech firm CannAcubed as it plans to roll out a cannabis cultivation facility in Thailand.
Based in Singapore with operations in Australia, China, and Israel, CannAcubed looks to create new industry and trade around industrial hemp and cannabis products via intelligent agriculture practices.
Since 2017, CannAcubed has been developing the regions first multi-country licensed industrial hemp operation, planning to launch ‘Hemp to Hydrogen’ plants across Asia.
The company plans to scale the world’s largest hemp cultivation project to provide essential raw materials, help alleviate poverty, create jobs, and help mitigate climate change.
CannAcubed is executing joint venture partnerships with the world’s leading green energy companies to fulfil its mission.
Roto-Gro is an Australian company with its operational headquarters in Canada. The company’s partnership with CannAcubed serves as an important stepping stone to its anticipated entry into the lawful cannabis market in Thailand.
CannAcubed is looking to develop CBD infused beverages, along with a biotech cannabis cancer treatment hub in Thailand.
The company has joined forces with Roto-Gro as a state-of-the-art technology partner to gain a strong foothold in the region.
The companies will work together to progress CannaAcubed’s existing projects, promoting Roto-Gro’s technology as the solution for indoor cultivation of high-quality cannabis products in Thailand.
Roto-Gro and CannAcubed will also look to joint implement operational strategies on the ground to make a significant impact.
RotoGro CEO Michael Di Tommaso said the company continues to secure partnerships for highly prospective indoor vertical farming projects globally based on relationships it secured last year.
“Our partnership with CannAcubed is a great stepping stone into Thailand and opens doors to other potential projects throughout region,” Di Tommaso said.
“We look to work diligently with CannAcubed to secure lawful cannabis technology projects throughout Thailand, building upon the company’s other global projects throughout 2022.”
In December, Roto–Gro announced it was tripling a $10 million technology licence agreement with Canadian vertical farming player Verity Greens”, while right now it says at the end of that paragraph “in August.”
Verity Greens had agreed to purchase 624 Roto-Gro Model 710 rotational garden systems, with an amended executed agreement signed as the company looks to increase the prospective purchase order to 1872.
In a transformative year for RotoGro, the company also secured several supply deals with leading cannabis and agricultural companies globally in 2021.
Roto-Gro’s technology has gained world-wide attention for reducing much of the problems associated with other vertical indoor farming systems.
Roto-Gro projects have more than 30% electricity savings and a 3-15x increase in yield per square metre when compared to other indoor vertical farming technologies.
Furthermore, RotoGro’s supporting automation technology automates all aspects of the cultivation cycle.
The company has filed three international applications under the patent cooperation treaty.
Under the treaty, Roto-Gro claimed priority arising from the patent applications previously filed under the United States Patent and Trademark Office.
CannAcubed CEO Glenn Davies said the company was thrilled to be partnering RotoGro as it enters the licensed Thailand Cannabis sector.
“We have some big plans for Thailand where we will provide a fully integrated Cannabis solution for our Thai partner which includes RotoGro’s advanced indoor vertical farming technology,” Davies said.
This article was developed in collaboration with Roto-Gro, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.