urban-gro, Inc. Continues Expansion into European Market
March 24 2021 - 7:05AM
urban-gro, Inc. (NASDAQ: UGRO) (“urban-gro” or the “Company”), a
leading global horticulture company that engineers and designs
commercial Controlled Environment Agriculture (“CEA”) facilities
and integrates complex environmental equipment systems, today
announced it has signed agreements with two European companies, one
in France and one in the Netherlands, experiencing quick inertia
with opportunities throughout the European market. These
representation agreements are the Company’s first outside of the
US. Additionally, the Company is readying final development with a
strategic vendor partner of a complex environmental mechanical
system that is specifically designed for the European market.
While continuing its work on existing projects
the Company signed in 2020, the Company is committed to advancing
its presence and strategic reach across Europe. The Company plans
to leverage its partnerships and existing U.S. based engineering
expertise and overhead to meet the increased demand for sustainable
integrated CEA facilities and the cannabis industry expansion
across Europe. “The European market represents a tremendous growth
opportunity for the Company. With the rapidly growing demand for
CEA solutions, we believe urban-gro is well-positioned to bring our
acquired expertise in engineering, design and custom equipment
system integration to this emerging market. These agent engagements
represent the first key steps as we build our team and ultimately
open our European office as soon as global conditions permit,”
commented Bradley Nattrass, Chief Executive Officer and Chairman of
urban-gro.
In addition, the Company is pleased to be
working with a key manufacturing partner to develop and secure all
certifications for a mechanical system purpose-built to address the
gap of complex environmental systems for indoor CEA facilities
within Europe.
About urban-gro, Inc.urban-gro,
Inc. (NASDAQ: UGRO) is a leading engineering design and services
company focused on the commercial horticulture market. We
engineer and design commercial Controlled Environment Agriculture
(“CEA”) facilities and then integrate complex environmental
equipment systems into these high-performance
facilities. Operating in the global market, our
custom-tailored approach to design, procurement, and equipment
integration provides a single point of accountability across all
aspects of growing operations. Visit urban-gro.com to learn
more.Safe Harbor StatementThis press release
contains forward looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. When used in
this release, terms such as “believes,” “estimates,” “should,”
“could,” “would,” “plans,” “expects,” “intends,” “anticipates,”
“may,” “forecasts,” “projects” and similar expressions and
variations as they relate to the Company or its management are
intended to identify forward-looking statements. Such
forward-looking statements are based on current expectations,
forecasts, and assumptions that involve risks and uncertainties
that could cause actual outcomes and results to differ materially
from those anticipated or expected, including statements related to
the demand for our services and products, our ability to manage the
adverse effect brought on by the COVID-19 pandemic, our ability to
execute on our strategic plans, our ability to achieve positive
cash flows or profitability, our ability to achieve and maintain
cost savings, the sufficiency of our liquidity and capital
resources, and our ability to achieve our key initiatives for 2020.
A more detailed description of these and certain other factors that
could affect actual results is included in the Company’s filings
with the Securities and Exchange Commission. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. The Company undertakes no
obligation to update any forward-looking statements to reflect
events or circumstances after the date hereof, except as may be
required by law.urban-gro Investor Relations
Contact:Jenene ThomasChief Executive OfficerJTC Team,
LLCT: 833.475.8247 investors@urban-gro.com
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