AgriFORCE Growing Systems Ltd. announced that it has formed a joint venture with Agrigrada sarl. Agrigrada has worked with some of the largest plantation companies in the world and brings know-how in developing and managing sustainable agroforestry projects, including active operations in Africa and the USA. The joint venture is expected to help maximize AgriFORCE's in-progress acquisition plans.

Furthermore, Agrigrada's expertise will help address opportunities in agro-industrial crops and add to AgriFORCE's current knowledge portfolio, while opening the door to certain commercial opportunities in Africa as well as other markets to identify and pursue strategic opportunities to assist in driving sustainable production of plant-based products. Under the agreement, AgriFORCE will have a controlling share of the joint venture. Joining the joint venture as part of Agrigrada is Luc Boedt, PhD, a seasoned executive with extensive experience in the agriculture and pharmaceutical industries.

Prior to Agrigrada, Mr. Boedt held senior executive positions at SocFin, a leading agribusiness company with operations in Africa, Asia, and South America. During his tenure at SocFin, he was responsible for overseeing the company's operations in several countries, including Ivory Coast, Ghana, Liberia, Guinea, Congo, Cameroon, Nigeria, Sao Tome, Sierra Leone, Indonesia and Cambodia, and managed relationships with local governments and communities. Under his leadership, the company achieved significant growth in its African operations, with revenues increasing by over 50% and profits increasing by over 70% over the period.

Mr. Boedt also played a key role in developing the company's sustainability strategy, which included initiatives to reduce water usage and increase biodiversity on its plantations.