Australia's Roots Sustainable Agricultural hits 1-month high on U.S. patent

Roots Sustainable Agricultural Technologies

05/10/2021 03:28

** Shares of  ROO.AX  rise as much as 25% to A$0.010, their
highest level since Sept. 7
    ** The Israel-based agricultural tech developer receives
Notice of Allowance from United Stated Patent and Trademark
Office for its Heat Exchange Probe design patent  urn:newsml:reuters.com:*:nGLF9fc6sk
    ** Probe cools or heats plant root zone, allowing farmers to
save money on air heating/cooling expenses
    ** U.S. markets represents major opportunity as the 15-year
patent ensures extensive market access and exclusivity - ROO
    ** Stock currently up 12.5% at 0206 GMT, their best day
since Sept. 24 
    ** More than 1.7 mln shares have changed hands, vs 30-day
average of about 1 mln shares
    ** Stock down 61.9% YTD, as of last close 
    


 (Reporting by Jaskiran Singh in Bengaluru)
 ((jaskiran.singh@thomsonreuters.com))