What is the Power of Innovation and the Value of Patents in AgTech? This Company Says It Has What It Takes

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The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

The world is so used to technology that, in some ways, innovation seems commonplace. But this is certainly not always the case. In the agriculture industry, some say that innovation has stagnated. AgriFORCE Growing Systems Ltd AGRI is an example of a company that has stated that it is dedicated to making positive changes in the agriculture technology world. It says it will achieve that through the development, acquisition, and alliances (or partnership) in technologies –- and this approach is at the heart of its business strategy.

AgriFORCE says that it is focused on the development of Intellectual Property (IP) and finding innovative ways to integrate existing technology to create advances in AgTech. For AgriFORCE the patents that come from the IP are key business assets. The creation of that encompasses new methods, processes, and integrations sit at the foundation of the company’s drive. The world desperately needs new approaches for growing, cultivating and producing crops and plant-based foods and products. AgriFORCE is dedicated to developing and retaining intellectual property to achieve this.

The Global Situation

Climate change means that growing areas suitable for specific crops  — or even the growing technique — are being severely impacted. Increases in extreme weather and changes in rainfall create further problems for traditional farming.

There is an increased commitment to innovation in AgTech that seeks to address global challenges in the food supply chain, food insecurity, and the need to use less land, yet produce more food to meet the needs of a growing global population. This has intensified the need for research and development around more productive farming systems and the development of integrated technologies that show measurable results. AgriFORCE states that it has accepted this challenge as one of its primary business goals.

AgriFORCE’s Solution?

Controlled Environment Agriculture (CEA) is a key focus for AgriFORCE. This means indoor farming that is supported by leading-edge science, internet of things (IoT), and Artificial Intelligence (AI). With the AgriFORCE foundational IP - a proprietary facility design, automated growing system, and integrated controls and procedures, the crop is provided with exceptional support - from seed to harvest.  With the AgriFORCE Grow House, the delivery of nutrients to the crop is closely managed by design. The facility’s building envelope, FORCEFilm, is designed to provide the greatest amount of natural sunlight to the plant and is supported by innovative, patent-pending supplemental grow lighting, allowing for virtually optimal plant growth.

The AgriFORCE Grow House brings together Crops, Operations, Facility, Systems, and Environment (COFSE) as an integrated strategy that is unique to AgriFORCE. Automated systems provide the opportunity to lower operational costs, including labor expenses while improving crop quality, consistency, and yield. The AgriFORCE use of IoT, AI, and other elements also means that - in real-time - adjustments can be made to the environment - based on the data received regarding external weather conditions and the internal climate.

The traditional costs for farming are land, labor, fuel, and the chemicals necessary for herbicides and fertilizers. The AgriFORCE precision growth method was designed to use significantly fewer natural resources – specifically power and water. It was also created to use less fertilizer than most traditional indoor facilities or greenhouses.  The AgriFORCE facility design creates a fully sealed environment, blocking virtually all airborne organisms and pathogens, removing the need for herbicides, pesticides, and/or irradiation. This is crucial for all crops – and it addresses a key challenge currently faced by those cultivating crops for use in pharmaceutical and nutraceutical therapeutics.

The AgriFORCE states that its proprietary facility design and automated growing system may also contribute to societal desires of enhancing biodiversity by freeing up land for wildlife and in shortening supply chains, allowing agriculture production closer to urban centers.

The Value Proposition

As with any other advanced technology, each new stage of the process can be protected by patents. The development of the surrounding technologies helps make these improved methods for farming possible. It is the application of IP - from technologies to processes and methods which provides value within the context of a patent. AgriFORCE attempts to capture that value addition with its facility design and methods.

There are, of course, other agriculture companies such as Bunge Ltd. BG and ScottsScotts Miracle-Gro Co. SMG, but these entities may tend to concentrate on more traditional and legacy farming methods of agriculture with widespread use of land and the need for expensive inputs. AgriFORCE thinks that low input, automated production, and high yield agriculture could be the solution that the world is looking for.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.