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Agrify (AGFY) Enters Into Binding Letter of Intent For An Additional $3M Contract With Hannah Industries For Facility Build-Out And Installation of 179 Vertical Farming Units
Agrify Corporation (NasdaqCM: AGFY) (“Agrify” or the “Company”), a developer of highly advanced and proprietary precision hardware and software grow solutions for the indoor agriculture marketplace
February 19, 2021
Agrify Corporation (NasdaqCM: AGFY) (“Agrify” or the “Company”), a developer of highly advanced and proprietary precision hardware and software grow solutions for the indoor agriculture marketplace, today announced it has entered into a binding letter of intent, which sets forth the principal terms of a contract currently being negotiated with Hannah Industries (“Hannah”), a leading Tier 2 producer and distributor of cannabis in Washington State, for the design and build-out of an approximately 30,000 square foot facility. The contract will include facility build-out services in total of $3 million and annual SaaS revenue of approximately $285,000. Such payments will be financed by Agrify, are to be made monthly over a two-year period commencing upon the first successful harvest, and will reflect an APR of 25%. The agreement for this design and build-out will be in addition to the previously purchased 179 Vertical Farming Units (“VFUs”) and is part of Agrify’s turnkey solution to its customers. The work is expected to be completed by early Q4 2021, subject to entry into a definitive agreement.
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“We are especially proud to be selected by Hannah Industries, a leading producer and distributor in the State of Washington. Their decision to upgrade from the traditional grow methodology to Agrify’s integrated vertical farming solution is the strongest testimony of our joint belief that Agrify’s solution will help Hannah Industries to produce the highest quality cannabis flowers consistently. We’re thrilled to have been chosen again by Hannah for the facility design, construction, and installation of our proprietary and advanced grow solutions,” said Raymond Chang, Chief Executive Officer of Agrify. “Agrify VFUs and Agrify Insights software should also help Hannah realize increased levels of automation, control, transparency, and repeatability. We expect this will be a great win for our team, and we look forward to working with Hannah to successfully implement it.”
“The current market is very competitive, and consumers have lots of options. One of the most important things to our business is being able to deliver a consistent, high-quality supply of cannabis to our retail partners,” said Jason Whitney, Chief Executive Officer of Hannah. “The Agrify grow system and software allow us to have an extremely high level of control over the grow, helping us meet our customers’ needs. In addition, the information Agrify Insights software provides will allow our team to make real-time decisions on supply chain management based on feedback from our customers. This evolution in the industry is one of the reasons we are extremely pleased to be implementing the Agrify solution for our cultivation facility.”
WEBINAR: Learning Transfer From The Cannabis Industry To The Vertical Farming Industry
We are thrilled to organize a Webinar focusing on the technical aspects and experience of these experts
MARCH 3, 2021
AT 16:00 Central European Time
ONLINE
Register
Critical Lessons: Learning Transfer from the Cannabis Industry to the Vertical Farming Industry
We are thrilled to organize a Webinar focusing on the technical aspects and experience of these experts:
Our speaker Emil Breza is Co-Founder, President, and CEO of AgricUltra™ Advancements Inc. Bringing together his interdisciplinary technical expertise and many years of product development and innovation he introduced to AgricUltra a PlantFirst™ design approach to create one of the industries most advanced Turn-Key Vertical solutions for Controlled Environment Agriculture applications.
Prior to founding AgricUltra, Emil had years of experience in Process Engineering, the Automotive Industry, Professional consulting, and the Military where he honed his ability to identify the root cause of problems and develop solutions that are outside the box.
Our speaker Buck Young is co-founder and Executive Director at CannTx Life Sciences Inc, a Canadian LP focused on leveraging innovation and science to produce exceptional cannabis products and provide solutions to the industry. He is also the CEO of Saed Technologies Ltd, which develops and licenses technologies related to plant propagation, a Board member of Mary Agrotechnologies, and sits on the management committee for a cannabis botanical drug strategic alliance with Devonian Health Group. He is passionate about translating research findings into commercial outcomes, advancing the adoption of precision agriculture, and understanding nature’s pharmacopeia.
Emil Breza
Buck Young
Dr. Joel Cuello
Please register here, there is only a limited number of tickets available.
Register
TAGS: ADVANTAGES OF VERTICAL FARMING AFRICA AGRITECHNICA AGROSPACE AVF WORKSHOP BRAINSTORM THE ECOSYSTEM DESIGNING THE ECOSYSTEM DLG ECOLOGICALLY ECONOMICALLY EVENT FOOD SAFETY FOOD SECURITY FOOD SYSTEM FOODSYSTEM FOOD TRACEABILITY FRAUNHOFER FRAUNHOFER IME HOW VERTICAL FARMING WORKS HUNGER INFARM INFOGRAPHICS INSPIRATIONAL ITALY MOTIVATION OPPORTUNITIES OPPPORTUNITIES PARTNER EVENT REGIONAL DEVELOPMENT RETAIL ROME RZ SOCIALLY SOUTHAFRICA STORYTELLING SUBMISSION SUMMIT SUPERMARKET SUPPLYCHAIN SUSTAINABILITY THE SIX SESSIONS URBAN AG VERTICAL FARMING WORKSHOP WORKSHOP WARM UP
Emerging Needs In Vertical Farming And Cannabis Cultivation
The development of vertical farming will continue considerably in the coming years, according to Montel Inc.. With the company’s Vertical Farming Systems Montel expects a very high volume of new projects in both food and cannabis. “COVID-19 has only increased the need to grow locally and inside cities”, says Yves Bélanger, VP Sales Vertical Farming Market International
15 January 2021
Jacco Strating
Yves Bélanger of Montel Inc. believes that COVID-19 has only increased the need to grow locally and inside cities. He speaks about why the development of vertical farming will continue considerably in the coming years.
The development of vertical farming will continue considerably in the coming years, according to Montel Inc.. With the company’s Vertical Farming Systems Montel expects a very high volume of new projects in both food and cannabis. “COVID-19 has only increased the need to grow locally and inside cities”, says Yves Bélanger, VP Sales Vertical Farming Market International.
Established in 1924, Montel pioneered high-density mobile storage systems providing cost-efficient storage solutions using less space and established a global network of authorized Montel distributors. Montel's achievements include some of the most prestigious projects in North America and around the world. “Prior to becoming North America's leading manufacturer of mobile systems, we had acquired nearly 40 years' experience in the electrical industry, including extensive involvement in the construction of generating stations and power grids for major world-leading hydroelectricity plants. This explains our expertise and the exceptional quality of our electrical mobile systems”, says Bélanger.
Inventive ways to feed the world
Before the crisis, it was already accepted as a general consensus that we are facing a complex challenge: we will need inventive ways to feed to growing population but the potential and land availability for cultivation has almost reached its maximum capacity. Also rising before the crisis was the global trend of growing locally due to a variety of factors or needs: in regions in which climate is a challenge, in remote areas, where there is water or soil rarity, aiming at lowering the carbon footprint, increasing product short shelf life, cutting down on transportation, etc. “In the long term, we feel that the current crisis will accelerate tremendously and definitely crystallize the need to grow locally and/or inside cities and the need to grow in a controlled cleanroom environment which will result in a higher demand for our product and a growth in our sector”, says Bélanger. “With its mobile carriages, the Greenrak Integrated Vertical Indoor Farming Solution is the ideal response to the current situation allowing both to increase yield while reducing the required surface by eliminating space wasting.
Customers increasingly have groceries delivered directly to their homes seems to be also an underlying trend rising from this crisis and in the long term, this may also play a role in creating a higher demand for our high-density cold storage solutions.”
Montel’s Greenrak and Grow&Roll systems were developed specifically for growing applications. Greenrak mobile system is lightweight, rust-resistant, and simple in design which allows for easy installation, use, and maintenance. Grow&Roll mobile system is the heavy-duty version of Greenrak and can withstand a weight of 3630 kg. Growrak was engineered to free up space between frames at each level providing plenty of clearance for better airflow, ventilation system ducts, lighting fixtures, and enough spacing for oversize trays to pass through between frames.
High yield hydroponic vertical farms
“Given the fact that Montel's Vertical Farming systems have been implemented in numerous indoor high yield hydroponic vertical farms that utilize cleanroom technologies and automation as well as many medical or recreational cannabis facilities around the world, we feel our expertise will benefit this growing sector. We are expecting a very high volume of projects that will require Integrated Vertical Farming Solutions. Our experience and knowledge allows us to rapidly assist the emerging needs in vertical farming and medical or recreational cannabis cultivation. By extension, we also foresee an increasing demand in the Cannabis Dispensaries market for our Light-duty drawer cabinet. We also expect a possible higher demand for our High-Density Cold Storage Solutions for the grocery delivery market and Buy Online, Pickup In-Store (BOPIS) market.”
Tags: Vegetables, Medicinal cannabis
Stem Cultivation's v2 Stem Box Achieves Production Milestone
STEM Cultivation, Inc. has emerged from stealth today to announce a breakthrough in growing efficiency with its patent-pending STEM Box v2
Las Vegas, December 12, 2019 - STEM Cultivation’s vertical hydroponic agri-tech platform enables leading Nevada cannabis brand to bring new products to market faster, and for less cost, compared to traditional indoor growing methods.
STEM Cultivation, Inc. has emerged from stealth today to announce a breakthrough in growing efficiency with its patent-pending STEM Box v2. The STEM Box is a leap forward with respect to lowering cost, space, operational, and energy requirements and offers commercial operators of any size a faster and more sustainable path to profitability over current methods of indoor cultivation.
“We shipped a STEM Box kit to our partner’s facility and assembled it into a fully-operational hydroponic grow room, isolated and environmentally-perfect, and ten weeks later it produced a cartoonish amount of high-quality cannabis,” said Kyle Moffitt, CEO of STEM Cultivation.
In a recent harvest, the STEM Box v2 yielded 91.9 pounds of dry flower in only 230 ft² of real estate, a 600%+ gain in production efficiency compared to an average harvest using traditional indoor cultivation methods in the same space. Moreover, the STEM Box achieved some of the highest efficiency metrics ever recorded, including:
Grams/ft² 181.4
Grams/watt 2.56
Pounds/light 3.83
Moffitt continues, “STEM Boxes are to commercial growers what Amazon Web Services is to computing: they both offer an easy way for businesses to quickly and incrementally scale capacity and help bake predictability and risk management into operations without requiring a large upfront investment. They allow independent operators of any size to punch well above their weight against larger competitors in cost and quality.”
Working in partnership with an award-winning cultivation and processing company based in Reno, NV, STEM Cultivation demonstrated a STEM Box’s ability to increase production without disrupting existing operations. STEM Boxes allow the client to expand their reach in the notoriously competitive Nevada market by producing more of their best-selling items for a fraction of their current cost.
Moffitt concludes, “We’ve applied lessons learned from the first-generation of indoor farming and made a next-generation solution that provides our clients with a fundamental market advantage within weeks of switching on. The STEM Box offers the fastest way to transition from cannabis growing to cannabis manufacturing.”
To learn more about STEM Cultivation or the STEM Box, visit www.stemcultivation.com or email info@stemcultivation.com to schedule a consultation.
What Is Hydronic Cooling?
“As Surna’s projects have become larger and more complex, we have added several products to our fan coil product family to meet the climate control needs of our customers”
Boulder, Colorado, August 27, 2019 — Surna Inc. (OTCQB: SRNA) introduces a full line of purpose- built fan coil products providing a wide range of choices for both ducted and ductless applications for small to large commercial indoor cannabis cultivation facilities.
“As Surna’s projects have become larger and more complex, we have added several products to our fan coil product family to meet the climate control needs of our customers”. These new products are part of our strategy to enhance our position as a trusted climate control advisor to our customers and offer more products and services to meet their specific requirements,” said Troy Rippe, Surna’s Director of Engineering and R&D.
The introduction of the IsoStreamTM product family allows Surna to serve:
Ductless environments where climate control systems circulate water, not air.
Ducted environments that provide economical solutions while still serving multiple grow
rooms.
Surna provides efficient and economical environmental control systems across a larger array of indoor cannabis cultivation facilities. Our new, whisper quiet fan coil units use electronically commutated motors to optimize airflow while specialized chilled water modulating valves are used to fine-tune for minimizing energy consumption.
If you want to learn more about our full line of Surna IsoStreamTM fan coils, please contact us at
www.surna.com
About Surna
Surna Inc. (www.surna.com) designs, engineers and manufactures application-specific environmental control and air sanitation systems for commercial, state- and provincial-regulated indoor cannabis cultivation facilities in the U.S. and Canada. Our engineering and technical team provides energy and water efficient solutions that allow growers to meet the unique demands of a cannabis cultivation environment through precise temperature, humidity, and process controls and to satisfy the evolving code and regulatory requirements being imposed at the state, provincial and local level.
A Flower Grower Recently Contacted Green Living Company Inc. Regarding Cooling Rates of the Flower Before Fresh Dispensed or Secondary Processed
A small carbon footprint with a ‘ton’ of daily freezing output! Canna-Freeze is being introduced at the CannaGrow Expo 8/17 and 8/18
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Fresh Frozen Cannabis
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Seedo Ramps Up Manufacturing For Its Hydroponic Farm In A Box
April 15, 2019
Indoor farming company Seedo announced it will manufacture more than 1,800 of its indoor grow boxes in Q2 of 2019.
Seedo’s device is a self-contained, airtight box that looks like a mini-fridge and automates the process of growing herbs and vegetables hydroponically. The device pairs with a smartphone app that lets users choose a grow plan or create their own, control and modify the environment in the box, and receive notifications about plant health, harvest times, and any unexpected issues. You can also lock or unlock the fridge door with the app, a feature that seems handy for households with curious pets or small children.
The device will fit inside most homes, clocking in at 40 inches tall and 24.4 inches wide. It has space to grow up to five different plant types at one time. With the aid of the app, users can adjust environmental factors based on what’s being grown. For example, tomatoes require a lot of light and fairly dry conditions for ideal growing, so Seedo users can adjust the “weather” inside the box to get those conditions. Meanwhile, a patent-pending lighting system self-adjusts based on the growth stage of the plants.
Most interesting about Seedo is the types of plants the company says you can grow with the device. The website lists the usual herbs and lettuces most at-home vertical farms can grow, as well as some heartier options: strawberries, cherry tomatoes, bell peppers, and zucchini. You can also grow flowers, edible or otherwise.
The Israel-based company has also filed a new patent that will cover the AI and data analytic algorithms of its agricultural database. According to the press release, these algorithms are built to increase yield, improve nutrient delivery to the plants, and detect issues in real time.
Right now, you can pre-order a Seedo for $2,400. That cost includes the box itself, various filters (water, air), nutrients to get started, and access to the app (iOS and Android). Actual seeds are not included.
That’s considerably more expensive than some other options available for purchase or pre-order: the Herbert farm by Ponix systems is selling for around $553 USD. SproutsIO, which is expected to ship in Q3 of 2019, is going for $799. And the Farmstand, courtesy of Zooey Deschanel’s new startup Lettuce Grow, ranges from $399 to $469 for the farm itself and $49 to $69 for a monthly subscription that includes seeds.
Seedo’s customer base is currently made up of at-home growers and some commercial partners. The company recently announced a partnership with Kibbutz Dan, with whom it will create a fully automated, commercial-scale cannabis farm in Israel. Previously, Seedo had established a medical cannabis farm in Moshav Brosh, Israel. Seedo raised a $4 million post-IPO equity round in April.
Seedo expects to start shipping machines in August 2019. It’s currently available for pre-order in North America, Europe, Australia, New Zealand, and Israel.
Cannabis Tech Topics Connected Kitchen Foodtech Modern Farmer Smart Garden