Business
Novagant Corp. Completes Purchase of Two Significant Patents for its Commercial and Residential Hydroponic and Aquaponic Operations
Novagant Corp. Completes Purchase of Two Significant Patents for its Commercial and Residential Hydroponic and Aquaponic Operations.
About this update from Novagant Corp.
[{"type":"text","content":"WILMINGTON, DE / ACCESSWIRE / February 16, 2021 / Novagant Corp. (OTC PINK:NVGT)(the "Company") a specialty investment company that develops agriculturally based technology companies announced today it has completed the purchase of two significant patents for its commercial and residential hydroponic/aquaponic operations.As previously reported, the Company signed a binding LOI with Apex Farms Corp. to purchase patents 9,795,097 and 10,004,188 in exchange for 25 million shares of Novagant Corp. restricted common stock. The purchase of these two patents has now been completed.The acquisition of these patents will now give Novagant Corp. the ability to target commercial and residential farming markets with significant advantages to substantive growth of produce without having to increase equipment and space.Grandview Research analyzed the global hydroponics market size with a valuation of $1.33 billion USD for 2018 with expected growth at a compound annual growth rate (CAGR) of 22.52% from 2019 to 2025. With exponential annual growth in the hydroponic industry exceeding 22% per annum, this puts Novagant Corp. with superior patented technology in the right industry, at the right time.https://www.grandviewresearch.com/industry-analysis/hydroponics-market#Novagant Corp. intends to sell both commercial and residential vertical hydrponic and aquaponic systems by implementing a strategic marketing program that will help educate the consumer, while taking advantage of the power of the internet to apply a focused approach utilizing direct to marketing (D2C) channels in order to increase sales through various D2C platforms that have a broad outreach on a national and global scale.Alexander M. Woods-Leo, Novagant Corp. CEO, stated, "With the renewed focus on combating global warming, water conservation and energy sustainability, Novagant Corp. is preparing to take advantage of the opportunities created by having the ability to produce a product with patented technology that compliments each of these areas of global interest. He also stated, "Between the substantial increases in growth we have witnessed in the cannabis and hemp markets over the last several years, in addition to new cleaner technologies being applied in the agricultural farming industry, we are confident that our technology will be well received. We believ...