AgriFORCE Growing Systems Ltd. (NASDAQ:AGRI) shares are moving higher Monday after the company announced a received patent approval.
What Happened: On Monday before the market opened, AgriFORCE announced that it received approval from the United States Patent Office for its application entitled, "Automated Growing Systems."
The patent covers moving production lines of either plants or flowers within a growing facility through the use of conveyor belts and other methods. AgriFORCE believes that this technology could be incorporated into some of its other existing innovations for indoor growing facilities.
"This patent adds dynamic value to our ever-expanding portfolio of patented technology aimed at innovating agribusiness," commented Jolie Kahn, AgriFORCE's executive turnaround consultant.
"We remain committed to exploring new opportunities to empower farmers and agribusinesses to maximize their market position and build long-term shareholder value for our stakeholders."
AGRI Price Action: At the time of publication, AgriFORCE stock is up 13.5% at 10 cents per data from Benzinga Pro.
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