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
30 November 2022 - 01:00AM
GlobeNewswire Inc.
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)™ will offer products for consumers
and a premium branded ingredient for manufacturers to improve their
products within 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)™ 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 Report2. Grand View Research Reports, San
Francisco CA, 2018 Estimates3. As per tests conducted by Eurofins
Food Chemistry Testing Madison, Inc., January 20224. AgriFORCE
UN(THINK) Consumer Survey, conducted by Brodeur Partners, November
2021
About AgriFORCEAgriFORCE
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
PedersenTel: (604) 757-0952Email: ipedersen@agriforcegs.com
Investor Relations:Crescendo
Communications, LLCDavid Waldman/Alexandra SchiltTel: (212)
671-1021Email: AGRI@crescendo-ir.com
Media
Relations:PeppercommHannah Robbins Tel: (415)
633-3205Email: AgriFORCE@peppercomm.com
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