Agrify To Help Three Companies' Grows Go Vertical

The company said that the rapid deployment packs give customers an accelerated path to production and profitability.

Agrify Corporation (Nasdaq: AGFY) said that three companies have decided to operate their cultivation businesses using the company’s rapid deployment packs (RDPs) — a prepackaged, quick-to-deploy alternative to traditional grow facilities.

Prairie State Cannabis LLC in Illinois, LowKey LLC in Massachusetts and MediFlora Cultivation LTD in South Africa have all elected to use the tech, which the company said is able to provide “best-in-class” cultivation capabilities in potentially as little as 60-90 days.

The development is better news for the company, as the hydroponics sector has taken a beating this year amid a cooling correction in the markets.

“Through these new RDP customer engagements, we are excited to support a traditional outdoor farm in Illinois in its quest to expand its current operations through the introduction of indoor cultivation and extraction solutions, a minority-owned social equity dispensary and cultivation business in our home state of Massachusetts that is attempting to elevate the consumer experience in a historically disadvantaged community, and a South African enterprise aspiring to produce the highest quality pharmaceutical cannabis at a low production cost per gram,” said Agrify chairman and CEO Raymond Chang.

Agrify expects to generate over $7.5 million in cultivation-related hardware sales with additional recurring software licensing and production success fees.

The company also noted that it will initially provide each customer with an RDP configuration comprised of 56 vertical farming units, which are stackable grow pods with self-contained microclimates, light sources, irrigation and fertigation.

The vertical nature of the units also helps clients save money on rent costs, which are calculated based on total square footage rather than the height of the facility.

“Once installed, the modular nature of the RDPs allows for seamless expansion opportunities, enabling customers the flexibility to grow and scale,” the company said.

The company expects each customer to have the potential to produce an estimated 7.5 pounds of premium quality flowers per vertical farming units, per grow cycle, with approximately 5.2 grow cycles expected to be possible annually thereafter.

“Through our unwavering commitment to continuous innovation and bringing new technologies to market, the RDP program was launched to increase customer access to our VFUs and Agrify Insights cultivation software, while also providing us with a means to further increase our installed base,” Chang said.

Adam Jackson

Adam Jackson covers the cannabis industry for The Green Market Report. He previously covered the Missouri statehouse for The Columbia Missourian and has written for The Missouri Independent. He most recently covered retail, restaurants, and other consumer companies for Bloomberg Business News. You can find him on Twitter @adam_sjackson and email him at adam.jackson@crain.com.


Agrify

Leave a Reply

Your email address will not be published. Required fields are marked *

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

By continuing I agree to your Privacy Policy and consent to receive relevant newsletters and other email communications on events, editorial features, and special partner offers from Green Market Report. I can unsubscribe or change my email preferences at any time.


About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 30 mins

California Cannabis Industry Owes State a Quarter Billion Dollars in Taxes

@GreenMarketRpt – 6 hours

Inflation Shifts Cannabis Purchase Preferences, but Usage Holds Steady

@GreenMarketRpt – 6 hours

Judge Declines to Stop L.A. Social Equity Lottery

Back to Top

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

By continuing I agree to your Privacy Policy and consent to receive relevant newsletters and other email communications on events, editorial features, and special partner offers from Green Market Report. I can unsubscribe or change my email preferences at any time.