Agrify’s Customer, Nevada Holistic Medicine, Awarded Best Cultivation in the Esteemed 8th Annual Nevada Cannabis Award & Music Festival
Agrify (NASDAQ: AGFY) announces that its customer, Nevada Holistic Medicine (NHM), has won the Best Cultivation Award at the 8th Annual Nevada Cannabis Awards & Music Festival. NHM, which uses 132 Agrify Vertical Farming Units (VFUs), achieved significant improvements in its operations:
1. Doubled flower production within 90 days
2. Reduced operational costs by 50% to less than $650 per lb. of finished packaged flower
3. Consistently produces over 9 lbs. per VFU per crop cycle in 32 sqft. of floor space
NHM's Stack House cultivation facility also secured 3rd place in the "Best Cultivation" category. The collaboration between Agrify and NHM led to improvements in best practices implementation, cost efficiency, optimized cultivation processes, and enhanced team accountability.
Agrify (NASDAQ: AGFY) annuncia che il suo cliente, Nevada Holistic Medicine (NHM), ha vinto il Miglior Premio per la Coltivazione all'8° Annual Nevada Cannabis Awards & Music Festival. NHM, che utilizza 132 Unità di Coltivazione Verticale Agrify (VUAs), ha ottenuto miglioramenti significativi nelle sue operazioni:
1. Produzione di fiori raddoppiata entro 90 giorni
2. Riduzione dei costi operativi del 50% a meno di 650 $ per lb. di fiori confezionati finiti
3. Produce costantemente oltre 9 lb. per VUA per ciclo di coltivazione in 32 piedi quadrati di spazio sul pavimento
La struttura di coltivazione Stack House di NHM ha anche ottenuto il 3° posto nella categoria
Agrify (NASDAQ: AGFY) anuncia que su cliente, Nevada Holistic Medicine (NHM), ha ganado el Premio a la Mejor Cultivación en el 8° Annual Nevada Cannabis Awards & Music Festival. NHM, que utiliza 132 Unidades de Cultivo Vertical Agrify (UVAs), ha logrado mejoras significativas en sus operaciones:
1. Producción de flores duplicada en 90 días
2. Reducción de costos operativos del 50% a menos de 650 $ por lb. de flores empaquetadas terminadas
3. Produce consistentemente más de 9 lb. por UVA por ciclo de cultivo en 32 pies cuadrados de espacio
La instalación de cultivo Stack House de NHM también aseguró el 3er lugar en la categoría
Agrify (NASDAQ: AGFY)는 고객인 네바다 홀리스틱 메디슨(NHM)이 제8회 네바다 대마초 어워드 및 음악제에서 최고 재배 상을 수상했다고 발표했습니다. NHM은 132개 Agrify 수직 농업 유닛(VFU)을 사용하여 운영에서 상당한 개선을 이루었습니다:
1. 90일 이내에 꽃 생산량 두 배 증가
2. 운영 비용 50% 절감, 포장 완료된 꽃 1파운드당 650달러 미만
3. 32 평방 피트의 바닥 공간에서 화 사이클당 VFU당 9파운드 초과 생산
NHM의 스택 하우스 재배 시설은 또한
Agrify (NASDAQ: AGFY) annonce que son client, Nevada Holistic Medicine (NHM), a remporté le Meilleur Prix de Culture lors de la 8ème édition des Nevada Cannabis Awards & Music Festival. NHM, qui utilise 132 Unités de Culture Verticale Agrify (UCU), a réalisé des améliorations significatives dans ses opérations :
1. Production de fleurs doublée en 90 jours
2. Réduction des coûts opérationnels de 50%, à moins de 650 $ par lb. de fleurs emballées finies
3. Produit systématiquement plus de 9 lb. par UCU par cycle de culture dans 32 pieds carrés de surface au sol
Le centre de culture Stack House de NHM a également obtenu la 3ème place dans la catégorie
Agrify (NASDAQ: AGFY) gibt bekannt, dass sein Kunde, Nevada Holistic Medicine (NHM), den Besten Anbaupreis bei den 8. jährlichen Nevada Cannabis Awards & Music Festival gewonnen hat. NHM, das 132 Agrify Vertical Farming Units (VFUs) einsetzt, hat bedeutende Verbesserungen in seinen Abläufen erzielt:
1. Blütenproduktion innerhalb von 90 Tagen verdoppelt
2. Betriebskosten um 50% auf weniger als 650 $ pro Pfund verpackte Blüten gesenkt
3. Produziert konstant über 9 Pfund pro VFU pro Erntezyklus auf 32 Quadratfuß Bodenfläche
Die Anbaueinrichtung von NHM, Stack House, sicherte sich auch den 3. Platz in der Kategorie
- Nevada Holistic Medicine won Best Cultivation Award at Nevada Cannabis Awards
- Doubled flower production within 90 days
- Reduced operational costs by 50% to less than $650 per lb. of finished packaged flower
- Consistently produces over 9 lbs. per VFU per crop cycle in 32 sqft. of floor space
- NHM's Stack House cultivation facility won 3rd place in "Best Cultivation" category
- None.
Insights
Nevada Holistic Medicine's (NHM) Best Cultivation Award at the Nevada Cannabis Awards signifies a notable achievement in the competitive cannabis market. The collaboration with Agrify has yielded impressive results:
- Doubled flower production in 90 days
- Reduced operational costs by
50% to under$650 per lb - Agrify VFUs producing over 9 lbs per unit per cycle
These improvements demonstrate the potential of advanced cultivation technologies in enhancing efficiency and product quality. The
For investors, this success story could indicate Agrify's strong market position and potential for growth in the cannabis tech sector. However, it's important to consider that while this is a positive development, its impact on Agrify's overall financial performance may be given the company's current market cap of just
Agrify's Vertical Farming Units (VFUs) and Agrify Insights™ software represent a significant technological leap in cannabis cultivation. Key points include:
- Consistent production of 9+ lbs per VFU over 32 sqft
- Implementation of data-driven, science-based cultivation methods
- Real-time analytics for continuous process improvement
The rapid turnaround at NHM showcases the scalability and efficiency of Agrify's solutions. This success could potentially lead to increased adoption in the industry, especially among cultivators looking to optimize their operations.
However, investors should note that while the technology is promising, widespread industry adoption and Agrify's ability to capitalize on this success will be important for long-term growth. The company's small market cap suggests it's still in a growth phase, which could present both opportunities and risks for investors.
TROY, Mich., Oct. 01, 2024 (GLOBE NEWSWIRE) -- 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
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 some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” or “continue” or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial 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
FAQ
What award did Agrify's customer Nevada Holistic Medicine win at the Nevada Cannabis Awards?
How many Agrify Vertical Farming Units (VFUs) does Nevada Holistic Medicine use?
What improvements did Nevada Holistic Medicine achieve with Agrify's solutions?
Where can customers find Nevada Holistic Medicine's award-winning products?
