ResGreen Group International, Inc. (OTCPINK: RGGI), Elkhart, Indiana ENTERS FINAL NEGOTIATIONS TO ACQUIRE INTELLECTUAL PROPERTY FOR AN AUTOMATED GUIDED VEHICLE.
ResGreen Group CEO Parashar (Parsh) Patel being an accomplished engineer in the field of AUTOMATED GUIDED VEHICLE (AGV) technology, announces the Company has entered into the final negotiations to acquire the new and additional technology that will allow the Company to roll out an AGV prototype in mid-2020..
Patel reports that he has aggressively been working with other engineering experts to develop the cutting-edge Intellectual Property (IP) needed for a unique and needed AGV and just this week moved the negotiations into the final stages so that the acquisition is imminent. The type of AGV this will produce is not currently in the marketplace but is being sought after with tremendous demand. RGGI plans to be one of the leaders in this market if not the first.
The overall automated guided vehicle market is expected to grow from USD 2.0 billion in 2019 to USD 2.9 billion by 2024 at a CAGR of 7.8%. More information can be found at: https://www.marketsandmarkets.com/Market-Reports/automated-guided-vehicle-market-27462395.html?gclid=CjwKCAiA3uDwBRBFEiwA1VsajA37Sm51oAOKal2ptATWn0Dvzzpqmw0VloUrbN1BiKihtFADkrwxxBoCVuIQAvD_BwE
AGV market for retail to exhibit high growth during forecast period
The retail industry is expected to register the highest CAGR during the forecast period. The increasing globalization, and the emergence of online retailing and bulk retailing have escalated the demand for AGVs in the retail industry. With the growing pressure on retail companies to meet the ever-increasing demand of its customers, the companies are focusing on operating more efficiently. The implementation of AGVs in warehouses and stores helps them achieve this, which is expected to contribute to the highest expected CAGR of the market for retail during the forecast period
ABOUT RESGREEN GROUP INTERNATIONAL, INC.
RGGI is using certain Know-how and Intellectual Property (IP) that it possesses and looks to acquire and develop components for material handling logistics and certain Automatic Guided Vehicles (AGV) and mobile technologies.
Current management has years of professional engineering experience in this space and plans to remain focused and highly motivated to execute on its business strategy to develop certain Automatic Guided Transports including AGV / AGC and Mobile COBOT.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of ResGreen Group International Inc. with members of its management team as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
ResGreen Group International, Inc.
Parashar (Parsh) Patel, President and CEO