Agrify’s Customer, Nevada Holistic Medicine, Awarded Best Cultivation in the Esteemed 8th Annual Nevada Cannabis Award & Music Festival
01 Ottobre 2024 - 1:30PM
Agrify Corporation (NASDAQ: AGFY), a leader in advanced cultivation
and extraction solutions, is excited to announce Nevada Holistic
Medicine’s (NHM) Best Cultivation Award at the Nevada Cannabis
Awards, held over the weekend at the Fairmont Country Club in Las
Vegas. Nevada Holistic Medicine, owned by Scott Sibley, is a modern
cultivation operation with 132 Agrify Vertical Farming Units
(VFUs). Agrify and the Nevada Holistic Medicine Team collaborated
on a comprehensive overhaul of the cultivation operation. Within 90
days, the team successfully doubled their flower production and
reduced operational costs by 50% to less than $650 per lb. of
finished packaged flower. Agrify's VFU consistently produces in
excess of 9 lbs. per VFU per crop cycle over 32 sqft. of floor
space. The award-winning products are now available at Vegas Tree
House located at 4660 S Decatur Blvd, Las Vegas, NV 89103.
This overhaul not only delivered significant operational
improvements but also garnered notable market recognition. NHM’s
Stack House cultivation facility won 3rd place in the "Best
Cultivation" category at the 8th Annual Nevada Cannabis Awards
& Music Festival. This accolade highlights the exceptional
quality of the flower NHM is providing to the Nevada market and
reflects the appreciation from both the industry and consumers for
the impressive turnaround.
Agrify and Nevada Holistic Medicine revamped operations, driven
by data and real-time analytics from Agrify Insights™, delivering
immediate improvements across the board, including:
1. Best Practices Implementation: NHM replaced legacy
cultivation methods with Agrify’s science-based approach, training
the new team on Nevada-compliant Standard Operating Procedures
(SOPs) to ensure regulatory compliance and operational
excellence.
2. Cost Efficiency: By significantly reducing external service
dependencies and shifting to internal ownership of key processes,
NHM realized substantial cost savings, giving it greater control
over production costs and margins.
3. Optimized Cultivation Process: Agrify’s optimization of NHM’s
132 Vertical Farming Units, along with advanced plant production
scheduling, allowed for maximum space utilization and output,
boosting plant health and overall capacity without the need for
capital-intensive expansion.
4. Enhanced Team Accountability: A new
team culture focused on clear deliverables, timelines, and
performance expectations led to improved collaboration and faster
results.
“We are thrilled to receive the Best Cultivation Award at the
8th Annual Nevada Cannabis Award and Music Festival. It is a true
testimony to our entire team’s dedication and hard work. Agrify’s
ecosystem of software and Vertical Farming Units (VFUs), allow our
team to consistently produce premium flower that is recognized and
celebrated by our expanding loyal customer base. We are excited to
push the limits with one of the most technologically advanced
cultivation facility in the state of Nevada,” Scott Sibley, owner
of Nevada Holistic Medicine.
“We are proud of the transformative success we’ve achieved with
our client, Nevada Holistic Medicine. This rapid turnaround
underscores the power of Agrify’s scientific, data-driven approach
to cannabis cultivation. This success is a clear demonstration of
how our solutions can drive meaningful improvements in both
productivity and profitability while producing premium product
quality. The 3rd place award for NHM’s cultivation is no surprise
considering the quality of their top shelf flower brand Stack
House. It is further validation of our strategy and the quality of
results our clients can expect,” Raymond Chang, CEO of Agrify.
About Agrify
Agrify is a leading provider of innovative cultivation and
extraction solutions for the cannabis industry, bringing data,
science, and technology to the forefront of the market. Our
proprietary micro-environment-controlled Vertical Farming Units
(VFUs), enable cultivators to produce the highest quality products
with unmatched consistency, yield, and ROI (return on investment)
at scale. Our comprehensive extraction product line, which includes
hydrocarbon, ethanol, solventless extraction, post-processing, and
lab equipment, empowers producers to maximize the quantity and
quality of extract required for premium concentrates. For more
information, please visit our website at http://www.agrify.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
concerning Agrify and other matters. All statements contained in
this press release that do not relate to matters of historical fact
should be considered forward-looking statements including, without
limitation, statements regarding the consummation of the
transaction with HarvestWorks Farm, installation of the equipment,
and the receipt of the lifetime of revenue from the agreements. In
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forward-looking statements in this press release are only
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on our current expectations and projections about future events and
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condition, and results of operations. Forward-looking statements
involve known and unknown risks, uncertainties and other important
factors that may cause our actual results, performance, or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements. You should carefully consider the risks
and uncertainties that affect our business, including those
described in our filings with the Securities and Exchange
Commission (“SEC”), including under the caption “Risk Factors” in
our Annual Report on Form 10-K for the year ended December 31, 2022
that was filed with the SEC on November 28, 2023, which can be
obtained on the SEC website at www.sec.gov. These forward-looking
statements speak only as of the date of this communication. Except
as required by applicable law, we do not plan to publicly update or
revise any forward-looking statements, whether as a result of any
new information, future events, or otherwise. You are advised,
however, to consult any further disclosures we make on related
subjects in our public announcements and filings with the SEC.
Agrify Investor Relations
IR@agrify.com(857) 256-8110
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