01:13:02 EDT Fri 03 May 2024
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Cubicfarm Systems sells 10 GLS machines to BoomA

2024-03-20 11:30 ET - News Release

Mr. Michael Kyne reports

CUBICFARMS ANNOUNCES THE SALE OF 10 GLS 808 UNITS HYDROGREEN'S COMMERCIAL-SCALE EQUIPMENT TO BOOMA FOOD GROUP IN AUSTRALIA IN ADDITION TO AN EXCLUSIVITY PARTNERSHIP WITH BOOMA FOOD GROUP FOR AUSTRALIA AND NEW ZEALAND

Cubicfarm Systems Corp.'s ruminant livestock feed subsidiary company, HydroGreen Inc., has closed a sale with deposit with BoomA Food Group, Australia, a prestigious, technologically advanced Food producer in the heart of the Hunter Valley, New South Wales, Australia.

In this deal, 10 HydroGreen GLS 808 machines and two DGS -- 66 units will be sold to BoomA Food Group, HydroGreen's new exclusivity partner for the Australian and New Zealand markets. "We are honoured to have BoomA Foods as our strategic partner in Australia and New Zealand. They continue to pave the road for a gold standard in sustainable food and feed production", says HydroGreen president John DeJonge. The 10 GLS Machines will produce over 30 tonne of feed per day, which BoomA plans to supply to its operations and clients in the Hunter Valley region and beyond.

This sale in Australia punctuates HydroGreen's continued strategic shift toward integrating its innovative technology into progressive beef and dairy markets. "We are so excited about this landmark sale of our large-scale equipment to this excellent operator in Australia. I have traveled across Australia for many years partnering to build dairy farms and I have seen the need for HydroGreen feed across the country on so many occasions. The HydroGreen solution can significantly increase the production of milk and beef and reduce the environmental footprint of production agriculture; it's like a panacea of solutions for dairy and beef farms, making it especially beneficial for Australia and New Zealand where there are numerous government initiatives supporting modern agri-tech and sustainability measures readily available," says HydroGreen president Mr. de Jonge.

"This landmark sale by HydroGreen is the culmination of months of negotiations and is another example of the new corporate strategy at HydroGreen to focus on international market sales with top-tier qualified partners while focusing on our feed as a service (FaaS) model in the domestic U.S. market. We see BoomA Food Group as an ideal exclusivity partner given their recognition of the feed as a service (FaaS) model and its huge potential in Australia and New Zealand," Said HydroGreen chief financial officer Michael Kyne.

"BoomA Food Group has care and sustainability at the core of our operations," says Cory Robertson, chief executive officer of BoomA Food Group. "The Growing eco-systems of Cubicfarms and HydroGreen allows us to take the farm to the barn for better productivity, reliability, profitability and sustainability. We can serve our industry, community and clients with better certainty, creating precious rural jobs and taking the pressure off mother nature by using fewer natural resources and enabling faster growth and yields of our products without herbicides and pesticides. We're thrilled to announce this exclusive partnership agreement, which marks a pivotal moment for our team. With this strategic move, we're poised to work closely with our customers, partners and supply chain throughout Australia and New Zealand. We will champion HydroGreen to enable agri-tech innovation, sustainability and walking the talk on ESG (environmental, social, governance). Our unwavering dedication to our industry, network and the HydroGreen technology has empowered us to embrace this exclusivity agreement with enthusiasm, secure in the knowledge that it will deliver top-quality feed solutions, enhancing beef and milk quality for our target network of customers. This is just the beginning of an exciting journey ahead."

About Cubicfarm Systems Corp.

Cubicfarm 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. The Cubicfarm system contains patented technology for growing leafy greens and other crops on-site, indoors, all year round.

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