On December 17, 2018 Agrios Global Holdings Ltd. (CSE: AGRO) is pleased to announce that its subsidiary Agrios Asia Holdings Limited through Yunnan Hua Ma Biological Development Co. Ltd. has entered into an agreement with Kunming University of Science and Technology (KMUST) for a variety of research and development services. Agrios Asia intends to develop or acquire technology for using hemp fiber to replace high demand plastic products. Under the terms of the Agreement, KMUST has agreed to research and develop a technical process for the preparation of industrial hemp fiber as an alternative to wood fiber, to be used in the manufacture of various consumer products, including but not limited to biodegradable disposable utensils.
The Agreement provide for a three-phase program, which includes research and development of hemp fibers and setting product safety and production standards for bio-degradable utensils, which meets USFDA, and EU-CE food grade safety values.
On behalf of YHBD, KMUST shall also prepare and file three patent applications upon completing certain pre-determined milestones. The Agreement stipulates KMUST shall have no economic stake in the technology developed or in any patents awarded. Yunnan Hua Ma Biological Development Co. Ltd. shall remain the sole beneficiary of the technology and any patents or intellectual property related to the Agreement with KMUST.
Stephanie Wong, Managing Director of Agrios Asia stated, “We are pleased to take these first steps towards developing eco-friendly hemp derived consumer products to reduce the impact of global plastics pollution on our physical environments.”
Chris Kennedy, President and CEO of Agrios added, “More than 40 per cent of plastic is used only once and then enters the ecosystem as waste. We are glad that the Agrios Asia team is quickly moving forward on this worthwhile initiative.”
About Agrios Global Holdings Ltd.
Agrios Global Holdings is a data analytics-driven agriculture technology and services company advancing the latest innovations in indoor growing science. The Company owns, leases and manages properties and equipment for eco-sustainable agronomy and provides advisory services to support all aspects of aeroponic cultivation in the cannabis sector. Agrios is actively pursuing new opportunities to expand its portfolio of tenant growers and infrastructure assets in strategic licensed jurisdictions. Based in Vancouver, BC. Agrios is managed by a highly accomplished team of experienced industry and capital markets experts who are committed to the growth of the company.
This news release was prepared by management of Agrios, which takes full responsibility for its contents. The Canadian Securities Exchange (” CSE “) has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Agrios Global Holdings Ltd.