Australian carbon technology company RLF AgTech (ASX:RLF) has completed the shortfall placement regarding its recently announced entitlement issue.
The company has now raised just over $1.543 million via the entitlement issue an additional $874,304 under the subsequent shortfall placement.
RLF AgTech is a global plant nutrition and carbon technology company that combines plant science with advanced chemistry and manufacturing practices to produce “high-quality plant nutrition products for commercial agriculture”.
RLF’s Plant Proton Delivery Technology enables farmers to grow higher-yielding, better-quality, and more nutritious produce while supporting the plants’ natural ability to store and reduce atmospheric carbon.
In the years ahead, commercial agriculture is destined to play a significant role in sequestering carbon. RLF says its technologies will support this, using its Accumulating Carbon in Soil System (ACSS) to help capture and store CO2 by increasing the organic matter in the world’s soils.
RLF has been operating in Asia since 2006 with long established manufacturing, sales and distribution facilities in China, and has recently expanded its activities in Australia with the acquisition of the LiquaForce liquid fertiliser manufacturing, sales and application business in Queensland.
The company has recently obtained the right to operate, manufacture and sell RLF products in the Australian agricultural marketplace following the cessation of an exclusive distribution rights agreement previously held by an external party.
Write to Adam Orlando at Mining.com.au
Images: RLF AgTech
