‘Roots’ planted on Australian Stock Exchange

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Israeli cannabis entrepreneur Boaz Wachtel has taken Roots Sustainable Agricultural Technologies (Roots) onto the Australian Stock Exchange (ASX). A co-founder, Wachtel serves the company as strategic consultant and executive director. It is the third company Wachtel has guided to the Australian exchange following MMJ Phytotech, Australia’s first publicly traded medical cannabis company in 2015, and Creso Pharma, a neutraceuticals maker, in 2016.

Broadly applicable to greenhouse and outdoor growing, the technology has direct application to Wachtel’s interests in the cannabis space, he noted. Roots, based in Kfar Netter, Israel, holds patents on technology that boosts plant performance in difficult weather conditions, enhancing both yield and quality using off-the-grid water and electricity.

The Roots offering raised an initial $5 million; MMJ Phytotech is currently valued at $93 million, and Cresco Pharma, at $57 million.

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