Smart building materials company ClearVue Technologies Limited confirms that with the approval of the Israel District Court in Lod, it entered into a binding Asset Acquisition Agreement with the Trustee in Bankruptcy of Roots Sustainable Agricultural Technologies to acquire its extensive intellectual property (IP) and assets.
Roots, formerly listed on the ASX, has developed technologies to enhance plant growth, productivity, and water usage. Their Root Zone Temperature Optimization (RTZO) system results in improved crop yield and quality, while their Irrigation by Condensation (IBC) technology enables standalone irrigation using air humidity to extract water from the air. Both technologies complement ClearVue's solar greenhouse solutions, creating significant potential for complete, integrated ag-tech offerings.
ClearVue CEO, Martin Deil, said: "We first began engaging with Roots in 2019, but COVID put our planned collaboration on hold. Although circumstances are different, the timing is now right, and we are thrilled to merge our complementary and synergistic technologies to advance sustainable agriculture solutions."
Key members of the Roots team will join ClearVue as part of its dedicated Ag Solutions team. This team with extensive know-how of the global ag-tech sector will be integral to promoting and expanding sales of Roots technologies and products, while also contributing to the development of ClearVue's insulated energy-generating greenhouse offerings.
For more information:
ClearVue PV
http://www.clearvuepv.com/