Saturday, January 23, 2021

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RotoGro International: Signs long-term licence agreement

  • RotoGro International (RGI) has signed long-term manufacturing and cultivation licence agreements with Verity Greens
  • The 20-year agreements give Verity an exclusive global licence to use RotoGro’s proprietary technology in the cultivation of perishable foods
  • Verity also has non-exclusive rights to use RGI’s proprietary software and to manufacture and use RotoGro’s Rotational Garden Systems
  • To retain exclusivity of the cultivation licence beyond the end of 2021, Verity must purchase $10 million worth of RotoGro Model 710 Systems
  • RGI will also receive royalties from food production, system manufacture and software licence fees for the life of the contract
  • The deal allows RotoGro to move to a less capital-intensive business model and ensure ongoing revenues

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