VFU

Agrify Corporation Announces $3.4 Million Sales Order From New Jersey Woman-Owned Business HarvestWorks Farm

Retrieved on: 
Thursday, February 29, 2024

TROY, Mich., Feb. 29, 2024 (GLOBE NEWSWIRE) -- Agrify Corporation (Nasdaq: AGFY) (“Agrify” or the “Company”), a leading provider of innovative cultivation and extraction solutions for the cannabis industry, today announced the signing of a multi-year cultivation and extraction deal with HarvestWorks Farm, New Jersey (“HarvestWorks Farm” or the “Customer”), a licensed New Jersey operator.

Key Points: 
  • TROY, Mich., Feb. 29, 2024 (GLOBE NEWSWIRE) -- Agrify Corporation (Nasdaq: AGFY) (“Agrify” or the “Company”), a leading provider of innovative cultivation and extraction solutions for the cannabis industry, today announced the signing of a multi-year cultivation and extraction deal with HarvestWorks Farm, New Jersey (“HarvestWorks Farm” or the “Customer”), a licensed New Jersey operator.
  • HarvestWorks Farm is a woman-owned company founded by CEO and entrepreneur, Rita Ruggieri, a New Jersey resident.
  • Raymond Chang, Chairman and CEO of Agrify, shared that “Agrify is pleased to have the opportunity to work with Rita and her amazing team at HarvestWorks Farm in this fast-growing and exciting new market.
  • HarvestWorks aims to introduce a multi-faucet of products into the New Jersey market by early summer of 2024.

Agrify’s Enters Into First Hydrocarbon Extraction Lab & Vertical Farming Unit Facility in California

Retrieved on: 
Thursday, January 18, 2024

Ocean Deep will be extracting products with Agrify’s turnkey PX30 Hydrocarbon Extraction Lab Package to bolster its product offerings.

Key Points: 
  • Ocean Deep will be extracting products with Agrify’s turnkey PX30 Hydrocarbon Extraction Lab Package to bolster its product offerings.
  • Ocean Deep is also expected to begin operation with an estimated 120 Vertical Farming Units (“VFUs”) sold by the Company to produce high-quality cannabis flower in 2024.
  • The PX30 Hydrocarbon Extraction System is the largest system of Agrify’s PX-series.
  • Raymond Chang, Chairman and CEO of Agrify, shared that “We are very excited to announce this agreement for the sale of our first combined VFU and PX30 Hydrocarbon Extraction Lab facility in the state of California.

Agrify Approaches Milestone Moment with Launch of Vertical Farming Units in Las Vegas

Retrieved on: 
Thursday, March 23, 2023

Vegetative and mother areas are finished and have been filled with plant materials to prepare for the loading of Agrify Vertical Farming Units (“VFUs”) in April.

Key Points: 
  • Vegetative and mother areas are finished and have been filled with plant materials to prepare for the loading of Agrify Vertical Farming Units (“VFUs”) in April.
  • 132 version 3.6 VFUs, each with multiple vertical growing levels and individual microclimate controls, are ready to receive plants.
  • Some of this VFU-grown cannabis will be distributed as top-shelf flower at their dispensary, Vegas Treehouse in Las Vegas.
  • “The completion of this cultivation facility is a milestone in our partnership with Nevada Holistic Medicine,” said Raymond Chang, Chairman and Chief Executive Officer of Agrify.

Agrify Announces Three New Rapid Deployment Program Customer Engagements

Retrieved on: 
Thursday, October 6, 2022

Agrifys RDP program was established earlier this year to make it easier for a broader range of customers to access Agrifys award-winning cultivation technology.

Key Points: 
  • Agrifys RDP program was established earlier this year to make it easier for a broader range of customers to access Agrifys award-winning cultivation technology.
  • Once installed, the modular nature of the RDPs allows for seamless expansion opportunities, enabling customers the flexibility to grow and scale.
  • Agrify will initially be providing each customer with an RDP configuration consisting of 56 VFUs.
  • We are also excited for the opportunity to bring our RDP program to even more customers throughout the world.

Agrify Announces Record Revenue Results for First Quarter 2022

Retrieved on: 
Wednesday, May 11, 2022

BILLERICA, Mass., May 11, 2022 (GLOBE NEWSWIRE) -- Agrify™ Corporation (Nasdaq:AGFY) (“Agrify” or the “Company”), the most innovative provider of advanced cultivation and extraction solutions for the cannabis industry, today announced financial results for the first quarter ended March 31, 2022.

Key Points: 
  • First Quarter Revenue Grew 271% Year-Over-Year to $26 Million, Exceeding Prior Guidance
    BILLERICA, Mass., May 11, 2022 (GLOBE NEWSWIRE) -- Agrify Corporation (Nasdaq:AGFY) (Agrify or the Company), the most innovative provider of advanced cultivation and extraction solutions for the cannabis industry, today announced financial results for the first quarter ended March 31, 2022.
  • Gross profit for the first quarter totaled $4.2 million, or 16.0% of revenue, compared to $(540) thousand, or (7.7)% of revenue, in the prior year period.
  • Agrify reiterates its previously provided revenue guidance for Fiscal Year 2022 to be in the range of $140 million to $142 million.
  • Agrify will host a conference call and webcast today (Wednesday, May 11, 2022) at 8:30 a.m. Eastern Time (ET) to discuss its financial results for the first quarter ended March 31, 2022.

Agrify Announces Launch of VFU Rapid Deployment Pack

Retrieved on: 
Wednesday, April 20, 2022

Preconfigured for rapid deployment, Agrify RDP customers can immediately begin cultivating exceptional quality cannabis accelerating time to profitability.

Key Points: 
  • Preconfigured for rapid deployment, Agrify RDP customers can immediately begin cultivating exceptional quality cannabis accelerating time to profitability.
  • Each VFU arrives fully integrated with Agrify Insights SaaS cultivation software, enabling operators to precisely plan, track and monitor their grow cycles.
  • Agrify RDPs also offer cultivators planning larger VFU deployments the capability and control to quickly establish optimal strain specific grow recipes in advance of their production deployment of VFUs driving greater flower yield and profitability.
  • Our VFU Rapid Deployment Packs provide a great opportunity for operators to quickly have a high quality and consistent salable product in market while building out their larger facility and perfecting high-yielding grow recipes.

Agrify Announces its First Total Turn-Key Agreement in New Jersey with Loud Wellness

Retrieved on: 
Monday, April 11, 2022

BILLERICA, Mass., April 11, 2022 (GLOBE NEWSWIRE) -- Agrify Corporation (Nasdaq:AGFY) (“Agrify” or the “Company”), the most innovative provider of advanced cultivation and extraction solutions for the cannabis industry, announced it has signed a definitive agreement for its Agrify Total Turn-Key Solution (“Agrify TTK Solution”) with Loud Wellness Inc. (“Loud Wellness”), a New Jersey-based cultivation and manufacturing operator. Loud Wellness is one of only eight awardees that received both the Class 1 Cultivator and Class 2 Manufacturer licenses in New Jersey.

Key Points: 
  • Installed at Loud Wellness Glassboro, NJ Facility
    BILLERICA, Mass., April 11, 2022 (GLOBE NEWSWIRE) -- Agrify Corporation ( Nasdaq:AGFY ) (Agrify or the Company), the most innovative provider of advanced cultivation and extraction solutions for the cannabis industry, announced it has signed a definitive agreement for its Agrify Total Turn-Key Solution (Agrify TTK Solution) with Loud Wellness Inc. (Loud Wellness), a New Jersey-based cultivation and manufacturing operator.
  • Loud Wellness is one of only eight awardees that received both the Class 1 Cultivator and Class 2 Manufacturer licenses in New Jersey.
  • The terms of the 10-year agreement entered into with Agrify include the installation of 500 VFUs, along with the use of the fully integrated Agrify Insights software, at Loud Wellness Glassboro, NJ facility initially having 50,000 sq.
  • Upon securing additional third-party financing, Agrify may provide Loud Wellness up to an $18 million construction loan based on its standard TTK terms.

Agrify Enters Into a 10-Year Agreement with Gold Leaf For Its Total Turn-Key Solution

Retrieved on: 
Tuesday, January 4, 2022

BILLERICA, Mass., Jan. 04, 2022 (GLOBE NEWSWIRE) -- Agrify Corporation (Nasdaq:AGFY) (“Agrify” or the “Company”), the most innovative and vertically integrated provider of premium cultivation and extraction solutions for the cannabis and hemp industry, today announced it has signed a definitive agreement (the “Agreement”) for its largest Agrify Total Turn-Key Solution (“Agrify TTK Solution”) partnership to date with Gold Leaf Florida LLC (“Gold Leaf”), a leading licensed medical marijuana treatment center based in Myakka City, Florida. The Agreement, which is the first for Agrify in the flourishing Florida cannabis market, is expected to generate more than $140 million in revenue for Agrify over the first three years of cultivation and over $400 million of estimated total revenue over the full 10-year term of the partnership.

Key Points: 
  • Under the terms of the 10-year Agreement, Agrify will be installing 1,510 of its Vertical Farming Units (VFUs) at Gold Leafs 200,000-square-foot facility, with 100,000 square feet dedicated to VFU cultivation.
  • Gold Leaf plans to build four additional 200,000-square-foot facilities in Florida, for a total of one million square feet, and Agrify hopes to support Gold Leaf through all of this anticipated future growth with the installation of several thousand more VFUs.
  • The initial Agreement also includes architectural and engineering services, recurring SaaS revenue for use of the Agrify Insights cultivation software, operations consulting, and brand licensing.
  • Gold Leaf also has the option to engage with Agrify for construction financing.

Agrify Announces Third Quarter 2021 Financial Results

Retrieved on: 
Wednesday, November 10, 2021

BILLERICA, Mass., Nov. 10, 2021 (GLOBE NEWSWIRE) -- Agrify Corporation (Nasdaq:AGFY) (“Agrify” or the “Company”), a vertically integrated provider of premium cultivation and extraction solutions for the cannabis and hemp industry, today announced financial results for the period ended September 30, 2021 (“Q3 2021”).

Key Points: 
  • New bookings of $32.2 million, increasing total backlog to $117.5 million
    Q4 2021 bookings expected to top $100 million, Q4 2021 revenue expected to be approximately $26 million to $28 million, and full year guidance increased to $60 million to $62 million
    BILLERICA, Mass., Nov. 10, 2021 (GLOBE NEWSWIRE) -- Agrify Corporation (Nasdaq:AGFY) (Agrify or the Company), a vertically integrated provider of premium cultivation and extraction solutions for the cannabis and hemp industry, today announced financial results for the period ended September 30, 2021 (Q3 2021).
  • We believe our recent performance shows that we are right on the mark and confirms that the future looks bright for Agrify.
  • We look forward to closing out 2021 well-positioned for accelerated growth, and we will be providing our 2022 outlook in the coming months.
  • We also anticipate our EBITDA margins to improve significantly as wecontinue to seepositivesynergies andcontributions from our newly acquired extraction division.

Agrify Introduces Vertical Farming Unit Next Generation Technology

Retrieved on: 
Tuesday, October 19, 2021

A camera system powered by Agrify Insights with continuous image analysis that is capable of monitoring plant health in real time.

Key Points: 
  • A camera system powered by Agrify Insights with continuous image analysis that is capable of monitoring plant health in real time.
  • Our proprietary micro-environment-controlled Vertical Farming Units (VFUs) enable our customers to produce the highest quality products with unmatched consistency, yield, and ROI at scale.
  • Agrify brings data, science, and technology to its customers for unparalleled control over cultivation and extraction.
  • For more information, please visit Agrify at http://www.agrify.com , and Precision Extraction, a division of Agrify, at http://www.precisionextraction.com .