14:47:09 EST Sun 10 Nov 2024
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Cubicfarm Systems Corp (2)
Symbol CUB
Shares Issued 36,614,571
Close 2024-05-13 C$ 0.21
Market Cap C$ 7,689,060
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Cubicfarm's HydroGreen sells DGS-66 production systems

2024-05-14 13:42 ET - News Release

Mr. John de Jonge reports

CUBICFARMS ANNOUNCES SALE OF 2 DGS-66 PRODUCTION SYSTEMS TO UPGROWTH AG IN UTAH

Cubicfarm Systems Corp. has made a sale through its ruminant livestock feed subsidiary company, HydroGreen Inc. The transaction involves the sale of two of its innovative DGS-66 production systems to Upgrowth Ag. Under the payment terms, Upgrowth Ag has paid 50 per cent of the total sale, with the final 50 per cent to be paid upon confirmation of shipment.

Upgrowth Ag is a Utah-based company committed to enhancing sustainable livestock feed options for the international market. This strategic move aims to transform agricultural practices and expand scalability in the United States and Asia. Founded by a unique east-west partnership, Upgrowth Ag blends traditional farming insights with modern agricultural technology effort to integrate vertical fodder growth systems, and bring them to Korea, Japan, Mongolia and eventually all of Asia.

John de Jonge, president of HydroGreen, stated: "The DGS-66 systems are ideally tailored to the needs of innovative farms like those operated by Upgrowth Ag, which are both traditional and forward looking. These systems enable farmers to significantly enhance both the capacity and sustainability of their operations. Our technology offers the ability to produce high-energy, nutritious fresh forage 365 days a year, underpinning a revolution in how farmers approach animal agriculture. This is not only about elevating efficiency; it's about integrating resilience into the foundation of agricultural practices."

The DGS-66 production system by HydroGreen is designed to excel in controlled environments, ensuring the daily production of fresh forage regardless of external weather conditions. This cutting-edge technology guarantees consistent, year-round feed quality, critical for the health and productivity of livestock.

With this partnership, HydroGreen reaffirms its commitment to advancing sustainable agricultural solutions globally. By equipping Upgrowth Ag with HydroGreen's DGS-66 production systems, the company is enhancing its capability to boost productivity and provide superior, consistent livestock feed on a commercial scale, serving both local and international markets.

About HydroGreen Inc.

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 reseeding, 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 Systems Corp.

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 the company's people, planet and economy.

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