Under the new agreement, Roots’ solutions will be integrated into Humboldt’s SmartAg technology, strengthening the company’s access to the cannabis market in California.
Roots Sustainable Agricultural Technologies Limited () has secured a non-binding letter of intent (LOI) with existing partner, smart technology provider Humboldt CCTV, to integrate its proprietary Root Zone Temperature Optimisation (RZTO) technology and revolutionary heat exchange stub product into Humboldt’s Smart Agriculture solution.
Both parties will also progress an initial deployment to test the integrated solution with a leading cannabis grower in the 45 days from signing the LOI.
The development follows an initial non-binding LOI with Humboldt to market, sell and distribute root zone heat exchange kits in northern California.
“Coincides with cannabis regulatory shifts”
Humboldt specialises in smart agricultural technology and wireless connectivity solutions for farmers in the cannabis sector and has a longstanding and established customer base and a team of engineers and sales representatives covering the Californian market.
As part of the agreement, Roots will invest US$100,000 in Humboldt in return for 10% of its holdings with the invested proceeds to be devoted to marketing and sale initiatives in the California USA Cannabis sector.
Roots executive chairman and CEO Boaz…
