Agrify Corporation (Nasdaq:AGFY) (“Agrify” or the “Company”), the most innovative provider of advanced cultivation and extraction solutions for the cannabis industry, today announced that it has signed an agreement (“the Agreement”) with Greenlight Cannabis (“Greenlight” www.greenlightdispensary.com) to provide premium grow solutions and related services for Greenlight’s cultivation facilities. With 28 locations and growing across 5 states, Greenlight is a prominent multi-state operator (“MSO”) in the United States and provides consumers with high-quality and unique medical cannabis experiences. Under the terms of the Agreement, Agrify will install its latest generation Vertical Farming Units (“VFUs”) in Greenlight’s state-of-the-art cultivation center of excellence, to produce superior yields, consistency, and quality, in grow facilities across multiple States. Following operational acceptance, the Agreement is expected to be expanded to include a full facility build-out for Greenlight’s cultivation operations in strategic current locations followed by future locations as Greenlight expands geographically. The initial Agreement also includes horticulture and customer success training, ongoing technical and monitoring support, recurring SaaS revenue for use of the Agrify Insights cultivation software, and operations consulting.
Cannabis Law Report, 04/07/2022 02:45:00