Roots Sustainable Agricultural Technologies (ASX:ROO) announces quarterly results

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Roots Sustainable Agricultural Technologies (ASX:ROO) announced financial results for the quarter ended 30 September 2022.

Multiple milestones achieved highlighting the Company?s expansion of operations on utilising its technology to mitigate climate change and food shortages with a focus on Europe and the USA.

Accumulated sales contracts Q1-Q3 2022 in a total of A$291K which represents an increase of 61% on Q1-Q3 2021 (A$181K).

Multiple sales agreements achieved across the US, United Kingdom, United Arab Emirates and Israel underpinning growing demand for ROO?s technology.

Dealership agreement in the UK with leading provider of agricultural project and technology provider TK ag Solutions has led to the sale of a total of six demonstration mini roots systems.

Solutions sold to major UK soft fruit growers including Wilkin & Sons Limited, Berry Gardens and Dearnsdale Fruit ? Highlights the Company?s ongoing penetration of a major market.

Letter of Intent secured with Michael Aronson, a leading executive with 30 years? experience in operations and international trade.

LOI will increase the Company?s exposure in the Northeast of the US which has the potential to become a lucrative sales hub for the Company.

Agreement will focus on new territories including New Hampshire, Vermont, Maine, Massachusetts, Connecticut, New York, Rhode Island, New Jersey. Pennsylvania and Delaware.

First sale of Mini-RZTO system also secured through Oklahoma dealership highlighting demand increase for product range.

IP position strengthened with lodgement of two provisional patents in the US.

Considerable progress made at major UAE project subsequent to the end of the quarter.

Following the announcement the company?s share price unchanged.