VANCOUVER, BC, May 17, 2021 /CNW/ - CubicFarm® Systems
Corp. (TSXV: CUB) ("CubicFarms" or the "Company"), a local
chain agricultural technology company, announced today that 12
HydroGreen Grow System modules have been purchased by wholesale
distributor Dihl Gros International ("DGI") for his beef cattle
customers who require on farm fresh livestock feed for their herds.
HydroGreen is a wholly-owned subsidiary of CubicFarms.
This sale of 12 HydroGreen Grow System modules represents
equipment sales of approximately C$2
million by the Company. HydroGreen modules are sold through
multiple distributors in different industries. Wholesale
distributor DGI is focused on family farms in the beef market in
the United States (U.S.), with an
active customer pipeline to purchase the HydroGreen Grow System
modules.
"This just saved our farm," said Michael
Rigby, owner of Rigby Cattle Co. in Utah. "The severe drought had us worried we
wouldn't be able to feed our herd. The HydroGreen technology allows
us to grow our own on farm fresh livestock feed. Our family has
been in the cattle industry for generations, and we were
considering getting out of the business entirely if we couldn't get
high quality, nutritious feed for our cattle. Having a consistent,
predictable feed supply no matter what the weather is essential for
our family farm."
DGI is led by the innovative farmer Dihl
Gros, who first developed the automated indoor HydroGreen
Grow System technologies to supplement the feed of his cattle with
an independent supply of nutritious fresh livestock feed in areas
impacted by minimal precipitation and severe drought.
The U.S. Drought Monitor¹ saw a deterioration in drought-related
conditions this week across areas of the western United States. DGI has active customers in the
pipeline to purchase HydroGreen's automated indoor growing
technologies because the modules use less water, land, energy, and
labour than traditional farming and can be operated year-round in
any climate.
"Through our HydroGreen certified channel partners, we're able
to equip farmers with technology to become more independent and
sustainable. Our distributor DGI is focused on helping family farms
stay competitive in the beef market, feed their herds, get through
the ongoing drought, and keep the family farms in family hands,"
said Dan Schmidt, President,
HydroGreen. "For larger operations, Total Dairy Solutions is our
wholesale distributor and is currently recommending our HydroGreen
Vertical Pastures™ as a solution for commercial scale dairy farms
that need sustainable fresh livestock feed, like the recently
announced Burnett deal in Wyoming."
"This deal is evidence of the pressing need for HydroGreen
solutions for the beef market in the U.S.," said Dave Dinesen, CEO,
CubicFarms. "Having our indoor growing technologies available
through distributors helps accelerate their deployment to meet the
urgent needs of farmers facing severe drought. We want to empower
farmers by giving them control and on farm access to high quality
fresh livestock feed."
Footnote
¹According to the U.S. Drought Monitor
summary for the week of May 11, 2021,
available at https://droughtmonitor.unl.edu/.
About CubicFarms
CubicFarms is a local chain, agricultural technology company
developing and deploying technology to feed a changing world. Its
proprietary ag-tech solutions enable growers to produce high
quality, predictable produce and fresh livestock feed with
HydroGreen Nutrition Technology, a division of CubicFarm Systems
Corp. The CubicFarms™ system contains patented technology for
growing leafy greens and other crops onsite, indoors, all year
round. CubicFarms provides an efficient, localized food supply
solution that benefits our people, planet, and economy.
About HydroGreen
CubicFarms' HydroGreen system for growing nutritious livestock
feed. This system utilizes a unique process to sprout grains, such
as barley and wheat, in a controlled environment with minimal use
of land, labour and water. The HydroGreen system is fully automated
and performs all growing functions including seeding, watering,
lighting, harvesting, and re-seeding – all with the push of a
button – to deliver nutritious livestock feed without the typical
investment in fertilizer, chemicals, fuel, field equipment and
transportation. The HydroGreen system not only provides superior
nutritious feed to benefit the animal, but also enables significant
environmental benefits to the farm.
For more information, please visit www.cubicfarms.com.
On behalf of the Board of Directors
"Dave Dinesen"
Dave Dinesen, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. Certain statements in this release may
constitute "forward-looking statements" or "forward-looking
information" within the meaning of applicable securities laws,
including but not limited to the Company's expected revenue
recognition, and the completion of the sale and installation of the
modules by the customer. Forward-looking statements are not
guarantees of future performance and actual results may vary
materially from those statements. General business conditions are
factors that could cause actual results to vary materially from
forward-looking statements.
SOURCE CubicFarm Systems Corp.
