- CubicFarms announces the sale of seven HydroGreen machines
valued at CAD$1.9 million to DGI
Feeds
VANCOUVER, BC, Nov. 21,
2022 /CNW/ - CubicFarm® Systems Corp.
("CubicFarms" or the "Company") (TSX: CUB), a leading local
chain agricultural technology company, today announced that its
animal feed division, Hydrogreen Inc. ("HydroGreen"), has sold a
seven-system GLS 808 valued at CAD$1.9
million.
HydroGreen Sale in South Dakota
HydroGreen has signed a definitive purchase agreement for the
sale of seven HydroGreen GLS 808 machines valued at CAD
$1.9 million to DGI Feeds, an equine
feed company and certified HydroGreen dealer based in Mitchell, South Dakota.
DGI Feeds manufactures high-performance feed products for the
equine industry using a proprietary blend of ingredients, including
the sprouted-grain crop that HydroGreen equipment produces.
"CubicFarms has invested significantly in HydroGreen over the
course of three years, primarily toward research and development,
allowing our research team to study the application of HydroGreen
sprouted-grain feed," says HydroGreen President, John de Jonge. "Going into 2023, we're equipped
with more animal science data, and at the same time we're seeing
agricultural water use regulations take effect in lower basin
states like California, so I
believe we are at a critical tipping point of demand for HydroGreen
feed."
The seven HydroGreen machines purchased by DGI Feeds will fill a
17,000 square foot production and manufacturing facility in
Mitchell, South Dakota. With seven
HydroGreen machines, DGI Feeds will be able to harvest
approximately 10,500 pounds of dry matter per day to use in their
expanding equine feed product line. Two HydroGreen machines will be
installed immediately, with the remaining machines to be installed
by June 2023.
"Sprouted-grain feed is a breakthrough for animal nutrition and
health," says Craig Livingston of
DGI Feeds. "It's rich in natural enzymes, highly digestible, and
very nutritious for horses, and I know that HydroGreen's technology
is in a league of its own."
"The innovative producers in our pipeline have been watching our
progress with animal research for years and based on the findings
they're now confident in the many ways HydroGreen's sprouted-grain
feed can improve rumen function and their businesses," says
Dennis Dynneson, HydroGreen's Head
of Sales.
For more information, please visit www.cubicfarms.com.
Forward looking and other
cautionary statements
Certain statements in this release constitute "forward-looking
statements" or "forward-looking information" within the meaning of
applicable securities laws, including, without limitation,
statements with respect to: the expected completion date of the
installations and estimated harvesting capabilities of the
machines. Such statements involve known and unknown risks,
uncertainties, and other factors which may cause the actual
results, performance, or achievements to be materially different
from any future results, performance, or achievements expressed or
implied by such forward-looking statements. Such statements can be
identified by the use of words such as "intend", "expect",
"believe", "plan", "anticipate", "estimate", "scheduled",
"forecast", "predict", and other similar terminology, or state that
certain actions, events, or results "may", "can", "could", "would",
"might", or "will" be taken, occur, or be achieved.
These statements reflect the Company's current expectations
regarding future events, performance, and results and speak only as
of the date of this news release. Consequently, there can be no
assurances that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Except as required by securities
disclosure laws and regulations applicable to the Company, the
Company undertakes no obligation to update these forward-looking
statements if the Company's expectations regarding future events,
performance, or results change.
About HydroGreen
HydroGreen's Automated Vertical Pastures™ technology utilizes a
unique process to sprout grains, such as barley and wheat, in a
controlled environment with minimal use of land, labour and water.
HydroGreen's fully automated indoor growing technology performs all
growing functions including seeding, watering, lighting,
harvesting, and re-seeding—all with the push of a button—to deliver
nutritious fresh forage for livestock without the typical
investment in fertilizer, chemicals, fuel, field equipment, and
transportation. Automated Vertical Pastures™ not only provide
superior nutritious feed to benefit the animal but also enable
significant environmental benefits to the farm.
About CubicFarms
CubicFarms is a leading 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.
SOURCE CubicFarm Systems Corp.