AgriFORCE Growing Systems Ltd., a prominent agtech company (NASDAQ: AGRI and AGRIW), has recently undergone a management restructuring and provided a business update. Richard Wong, the interim CEO, emphasized the company’s commitment to pursuing organic growth, positive cash flow, and shareholder value.
As part of its growth strategy, AgriFORCE is reallocating resources to focus on commercializing its products and identifying the most suitable food verticals for its intellectual property (IP). The company is also aiming to generate near-term revenue for UN(THINK) Foods, AgriFORCE-RCS, and their patented GrowHouse with the help of the current senior management team, comprised of Mauro Pennella, Troy McClellan, and Hernando Ruiz-Jimenez.
Additionally, AgriFORCE has made significant progress in cost optimization, reducing its average monthly operating cash burn by approximately 31% since the previous year. The company continues to explore areas for cutting non-essential expenses to improve financial efficiency. Moreover, they are actively working on completing previously announced acquisitions and conducting due diligence to advance their strategic goals.
AgriFORCE’s core vision is to build an integrated agtech platform that addresses the pressing need for sustainable crops and nutritious food worldwide. By combining the best technology, intellectual property, and knowledge, they strive to deliver plant-based foods and products that positively impact the world from seed to table. With this vision, AgriFORCE aims to become a global leader in the agtech industry. Their commitment to sustainability and innovation sets them apart as they seek to solve urgent agricultural challenges. The company’s focus on commercialization and strategic management, bolstered by its intellectual property, positions them for future growth and profitability.
As the company progresses, AgriFORCE plans to update its shareholders regularly on the milestones achieved and the developments in its business growth initiatives. They are optimistic about the prospects for the future, driven by their dedicated team and their ongoing efforts to create positive change in the world through sustainable agtech solutions. AgriFORCE Growing Systems Ltd. is making significant strides in the agtech industry, with a clear focus on sustainability, commercialization, and financial efficiency. Their dedicated leadership team and vision to provide nutritious food and sustainable crops worldwide pave the way for an exciting future for the company and its shareholders.
Image provided by AgriFORCE