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CubicFarms Announces Sale of HydroGreen's Commercial-Scale Equipment to Pioneering Irish Agricultural Company
Tuesday, January 9, 2024Company Profile | Follow Company
Langley, BC, January 9, 2024--(T-Net)--CubicFarm Systems Corp. (TSXV: CUB), a leading agricultural technology company, announced that its ruminant livestock feed subsidiary company, HydroGreen Inc., has closed an initial sale to a leading agricultural company based in Dublin, Ireland.
In this transaction, one HydroGreen GLS 808 machine has been sold with an agreement for HydroGreen to supply an additional four GLS 808 machines for a future sale to facilitate a feed center in Dublin.
This sale marks a significant development for HydroGreen in its efforts to extend its market reach internationally, with an immediate emphasis on the European Union.
The EU has established a framework aimed at enhancing agricultural practices supported by strategic investment initiatives and government subsidies. These initiatives are geared towards the adoption of innovative technologies and equipment in agriculture.
This approach is facilitating a shift towards more efficient and sustainable methods in the EU's dairy and agriculture sectors. HydroGreen's involvement in this market is part of this broader trend towards modernization and sustainability in agricultural practices.
John De Jonge, President, CubicFarm Systems Corp.
"We're excited to announce our first foray into the Irish market with a meaningful partnership, particularly in a country that values food safety, animal well-being, and environmental sustainability," says HydroGreen President, John de Jonge. "With our Irish partner's commitment to becoming a leader in sustainable food systems, our technology has a pivotal role to play."
This deal lays the groundwork for future expansion into Ireland and the United Kingdom, facilitated through a partnership with a private company. This collaboration is particularly notable as it will include research and development trials conducted in association with local state agencies and universities.
These trials aim to further innovate and adapt HydroGreen's technology to meet specific regional agricultural needs, emphasizing our commitment to sustainable farming practices and cutting-edge agricultural technology.
As part of HydroGreen's strategic vision, the company says it is equally focused on its domestic initiatives, which involve constructing feed hub facilities in the US to distribute harvested feed by the ton to surrounding dairy farmers.
About HydroGreen
HydroGreen produces Automated Vertical Pastures™, a type of smart farming equipment that uses a unique process to sprout grains such as wheat and barley, in a controlled growing environment to efficiently produce a high-performance feed ingredient for livestock 365 days a year.
HydroGreen's equipment is simple and easy to operate and performs all growing functions automatically, including seeding, watering, lighting, harvesting, and re-seeding, which allows livestock businesses to feed consistent nutrition every day with minimal labour.
When balanced correctly in the ration, HydroGreen sprouted grain modifies animal digestion which enhances productivity and reduces the amount of enteric methane emitted in ruminant livestock. The result also enables environmental benefits to the farm while helping to meet increasing demand for valuable farm-based inset and offset carbon credits.
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 subsidiary of CubicFarm Systems Corp.
The CubicFarms™ system contains patented technology for growing leafy greens and other crops on-site, indoors, all year round. CubicFarms provides an efficient, localized food supply solution that benefits our people, planet, and economy.
This release may contain certain "forward-looking statements" or "forward-looking information" under applicable securities laws. Forward-looking terms such as "may," "will," "could," "should," "would," "plan," "potential," "intend," "anticipate," "project," "target," "believe," "plan," "outlook," "estimate," or "expect" and other words, terms and phrases of similar nature are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are based on certain key expectations and assumptions made by the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. [ MORE ] |
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