VANCOUVER, BC, Aug. 25,
2023 /CNW/ - CubicFarm® Systems Corp.
("CubicFarms" or the "Company") (TSX: CUB), a leading local
chain agricultural technology company, announced that its ruminant
livestock feed subsidiary company, HydroGreen Inc.
("HydroGreen"), is further expanding into international
markets through a Manufacturer's Representative Agreement between
HydroGreen and Seehof Agrar GmBH.
Seehof Agrar GmBH is led by Jürgen Bustorf, a veteran dairy
industry expert with over 25 years of experience in the European
dairy industry with a specialization in commercial farming. Based
in Dörnick, Germany, Seehof Agrar
will promote and sell HydroGreen equipment to ruminant livestock
producers in Europe as a direct
response to a significant increase in interest from potential
customers in the European Union. As part of the Manufacturer's
Representative Agreement, Seehof Agrar has been granted exclusivity
in the Middle East, select
countries in the Asia Pacific
region, as well as the European Union, excluding Italy, which will be handled by Feed Solutions
LLC, HydroGreen's distribution Partner for the Italian market.
"We've pinpointed multiple international markets that represent
a significant opportunity to advance adoption of sprouted grain as
a beneficial feed ingredient for ruminant livestock," says
HydroGreen's President, John de
Jonge. "Seehof Agrar is a widely respected leader in the
dairy industry and is well integrated in the European dairy markets
and is uniquely positioned to support the international expansion
of HydroGreen technology."
Following a period of prioritizing cost reduction, and in light
of recently announced equipment sales in Italy, this agreement is part of CubicFarms'
and HydroGreen's strategy to sell equipment to customers in
subsidized markets. HydroGreen's solution has the potential to
improve regional food security and reduce the environmental
footprint of production agriculture, but the purchase of any
capital equipment, including HydroGreen units can be prohibitive
for producers. As such, markets where there are
government-subsidized programs to assist farmers and ranchers are
becoming increasingly relevant.
This plan is being executed in tandem with HydroGreen's recently
announced domestic strategy, which is to build regional feed hub
facilities to offer Feed as a Service ("FaaS") to beef and
dairy producers, starting in in Riverdale, California.
"We're making progress in North
America to educate the market and government agencies on our
value proposition, while working to help secure funding
opportunities for prospective customers. As a parallel effort
HydroGreen sees opportunity in international markets where
producers are already eligible to access existing funding programs
to subsidize their purchase of HydroGreen equipment," says de
Jonge.
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 estimated harvesting capabilities
of the machines, nutritional benefits of feed produced by the
machines and quality of the feed in general. 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 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.
SOURCE CubicFarm Systems Corp.
