Monthly CEO Letter – Placement
Welcome to the Monthly CEO Letter.
This month, we will be discussing the most recent Placement, which was once again led by Melbourne-based boutique firm Peak Asset Management. The Placement was a necessary step for the Company to continue to drive the roll-out of its perishable food division in the vertical farming space, globally. It was important to further strengthen our balance sheet to achieve our objectives, which is, and will always be, driving shareholder value.
It is evident that our world needs a solution to the problems associated with fresh food shortages. The rise of indoor vertical farming companies and associated facilities demonstrates that this may, if executed correctly, be a viable solution to these problems. However, the business of indoor vertical farming itself must be viable for this solution to really take hold. Currently, most indoor vertical farming processes involve great amount of labour and use excessive amounts of power. Removing the increased operational costs associated with labour and power is therefore key to ensure the long-term sustainability of these ventures. In turn, RotoGro developed proprietary technology to do just that; our Model 710 Rotational Garden Systems and supporting full-facility automated technology significantly decreases labour and power costs, which inevitably decreases operational expenses, increasing the long-term sustainability of the indoor vertical farming business. These facts, coupled with RotoGro’s unique market position, is central to the reason for our most recent Placement. Our ongoing engagement with Peak Asset Management is an important facet of ensuring RotoGro is optimally positioned to capitalize on its interests in this space, particularly, the Company’s integral partnership with Verity Greens Inc.
Currently, RotoGro continues to test internally the final aspects of our state-of-the-art automated technology, bringing to light new, viable crops that will form a part of Verity Greens’ product offerings. We are also focused on finalizing the software to automate entire cultivation facilities, while also working alongside Verity’s team to complete the internal engineering schematics of their first, flagship cultivation facility.
As I discussed in the Introductory CEO letter, RotoGro is consistently innovating to drive revenue and solidify our market presence. Our technology is unparalleled and our focus on project execution will quickly bring this to light. This placement situates RotoGro well in terms of ensuring our ability to properly execute. We are extremely excited to move forward with the RotoGro-Verity Greens venture, as well as continue to expand on our technology product offerings as we move forward.
Michael Di Tomasso (B.A., J.D.)
Chief Executive Officer | Executive Director
Roto-Gro International Limited