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CEA Industries Inc. (OTCQB: SRNA) recently appointed Marion Mariathasan and Troy Reisner to its Board of Directors. Mariathasan, CEO of Simplifya, brings expertise in regulatory compliance and entrepreneurship, while Reisner, CFO of Keystone Tower Systems, offers substantial experience in finance and corporate governance. These appointments are aimed at enhancing the company's strategy, profitability, and value for shareholders amidst a growing sector in controlled environment agriculture.
CEA Industries (SRNA) announced a $2.1 million contract with a Maryland facility, marking another success for the company in late 2021. The contract follows earlier mechanical, electrical, and plumbing (MEP) engineering services for a 37,000 sq ft cultivation space. Surna will supply HVACD equipment, including its EnviroPro™ air handlers and SentryIQ® controls system, which is designed to optimize environmental control and energy management for controlled environment agriculture. This project aims to enhance productivity and quality for its clients.
CEA Industries Inc. (OTCQB: SRNA) has appointed Ryan Gift as Senior Vice President of Corporate Development, effective immediately. Gift brings over 15 years of experience in mergers and acquisitions, previously serving as M&A Manager for North America at Alfa Laval. CEO Tony McDonald expressed confidence that Gift will enhance the company’s growth through strategic initiatives. CEA Industries focuses on controlled environment agriculture technologies, aiming for partnerships and mergers that add value amidst increasing industry demand.
CEA Industries Inc. (OTCQB: SRNA) announced new contracts for lighting and benching products at a facility in Cheboygan, Michigan. The rapid conversion of their new product offerings into active projects highlights the effectiveness of their strategic initiatives. The lighting contract includes Neocision Spectra Veg 320W LED lights, while the benching contract encompasses various mobile and stationary racking systems with specialized tray inserts. The company continues to build on its experience in controlled environment agriculture (CEA) technologies, serving over 800 cultivators.
Surna Cultivation Technologies (OTCQB: SRNA) has signed a significant contract worth $3.4 million with Aeriz Holdings Corporation for a new cultivation facility in Riverbank, California. This project encompasses Surna's mechanical engineering services and HVACD equipment across a 96,000 square foot facility. The design incorporates combined heat and power (CHP) technology, enhancing energy efficiency and reducing waste. Surna aims to support Aeriz in maintaining operational efficiency and sustainability goals.
CEA Industries Inc. (OTCQB: SRNA) announced its partnership with Air Sniper as a value-added reseller of air sanitization products. This collaboration enhances Surna's offerings, integrating HVACD systems with proven UVC technology to maintain clean environments for plant growth. Air Sniper's units eradicate contaminants through Ultraviolet Germicidal Irradiation (UVGI) instead of traditional filtration methods, achieving over 99.9% effectiveness against airborne threats. The product line includes standalone, system-integrated, and hybrid solutions tailored for diverse needs.
Surna Inc. (OTCQB: SRNA) has secured preventative maintenance contracts for HVACD systems at two facilities in Arizona and Michigan, covering 75,000 square feet of cultivation space. These contracts mark Surna's initial foray into recurring revenue service offerings. The company's maintenance services ensure optimal performance of environmental control equipment, with customized plans tailored to each facility's needs. With over 15 years in the industry, Surna aims to enhance crop quality, yield efficiency, and compliance with local regulations.
Surna Inc. (OTCQB: SRNA) reported a 127% year-over-year increase in net revenue for Q3 2021, totaling $3.7 million. Total gross profit also rose by 42% to $0.7 million. Despite these gains, Surna experienced an operating loss of $0.4 million, a 57% increase from last year. Adjusted net loss was $0.4 million, up 95%. The company noted production and shipping delays impacted revenue, while net bookings reached $5.6 million, the second highest ever, contributing to a backlog of $9.9 million. Surna continues to pursue its organic growth strategy.
Surna Inc. (OTCQB: SRNA) will hold its quarterly earnings conference call on November 10, 2021, at 2:15 p.m. MT. The call will cover third-quarter 2021 financial results and updates on business developments and strategic growth plans. Interested participants can join by dialing 1-973-528-0008 with access code 408712. A replay will be available on the company's website starting November 11, 2021, at 4:00 p.m. ET until November 30, 2021.
Surna Inc. (OTCQB: SRNA) has announced a partnership with BVV, becoming a value-added reseller of their Neocision LED grow lights. This collaboration allows Surna to enhance its product offerings for commercial growers by providing high-quality LED lighting in controlled environment agriculture (CEA) facilities. The LED lights are DesignLights Consortium®-listed, ensuring compliance with industry standards and utility rebates. The initial product line includes advanced lighting options aimed at improving plant growth and increasing yields.
