Roots Sustainable Agricultural Technologies Ltd. announced the signing of a binding LOI with FinePro Renewable Energy Ltd, who will serve as the Company's integrator of Roots' IBC technology with its Gas or Solar operated and energy storage systems. FinePro is an international consulting, fabrication and turnkey company operating in the gas and energy sector. Established in 2001, FinePro has become a leader in the space and is the official representative in Israel of 12 international companies with dozens of years of experience in the field of gas. Roots' IBC is a proprietary disruptive technology which helps farmers worldwide produce food irrigated from only the humidity in the air.

To date, the IBC system has demonstrated its effectiveness in the production of nine difference crops using the revolutionary technology. Roots and FinePro plan to offer a gas-based IBC system, a less expensive version of current iterations which rely on solar and battery- operated energy. Under the LOI, for every sale of the IBC system made by Roots, FinePro will be entitled to 70% of the selling price with Roots receiving 30%.

For sales made by FinePro, FinePro will be entitled to 75% of the selling price with Roots receiving 25%. The systems will be built at FinePro facilities and financed by FinePro. Roots will contribute the agricultural equipment as well as technical assistance required for system assembly.

The agreement with FinePro is an ongoing arrangement, which may be terminated with 90 days' notice by either party.