Roots Sustainable Agricultural Technologies Ltd has expanded its European presence through a letter of intent with established agriculture and water treatment technologies supplier Avital COO.
Roots intends to deploy the company’s proprietary root zone temperature optimisation (RZTO) and heat exchange probe technology in Serbia and other countries in the Balkans. This will give Roots a broader presence in Europe encompassing the Balkans, Italy and Spain.
Under the letter of intent, Roots and Avital will progress a demonstration of the RZTO and heat exchange probe technology at one of Avital’s customer farms, a commercial grower of blueberries. Both parties will progress the LOI to a binding agreement, whereby Avital becomes Roots’ preferred distributor for Serbia and select Balkan nations.
'Building a strong commercial sales pipeline'
Roots executive chairman and chief executive officer Boaz Wachtel told proactiveinvestors.co.uk: “This LOI is a very promising development for Roots and is an excellent opportunity to establish our technology in another major European market and build a strong commercial sales pipeline. We expect that our RZTO and stub technologies will be well received by blueberry growers in the Avital network and provides us with seamless entry into another large, new agricultural market with a strong partner.”
“More countries are therefore looking to technology solutions to strengthen their domestic food cultivation and supply capabilities over the longer term and rely less on imports. Roots is therefore in the box seat to benefit here as we establish our presence in more key markets.”