Secures the Company's largest project to
date with new 96 module system
VANCOUVER, BC, Sept. 1, 2021 /CNW/ - CubicFarm® Systems
Corp. ("CubicFarms" or the "Company") (TSX: CUB), a local
chain agricultural technology company, today announced a new
project to deliver a new commercial scale FreshHub with 96
CubicFarm System modules, the Company's largest project to
date.
This next generation high-density system, called FreshHub, is
the next level of indoor growing aiming to significantly localize
food production. Leveraging the significant land and water
efficiencies of the award-winning CubicFarm System technology, the
new stacked configuration of this FreshHub will include a
remarkable 96 modules occupying one acre of land. New features of
this FreshHub include a new efficient agricultural building design
that reduces capital costs, new farm infrastructure, workflow
design, automation components, and proprietary software.
"The CubicFarms FreshHub is the real breakthrough design of the
ag-tech industry because it dramatically shortens the long supply
chain and localizes food production," said Dave Dinesen, Chief
Executive Officer, CubicFarms. "On just one acre of land, this new
FreshHub will grow the equivalent of 100 acres of field production.
We're exponentially increasing commercial scale growing with a
scalable solution that grows superior, more nutritious fresh
produce without any pesticides or herbicides. Growing locally
eliminates truckloads of produce arriving from far away, so the
food that ends up on your table is affordable, better for you,
stays fresher for longer, and reduces greenhouse gas emissions from
shipping."
"FreshHub meets the increasing demand for more reliable and
sustainable independent local food supply with high-density,
cost-efficient food production," said Jeff
Booth, Chair, CubicFarms. "By delivering high quality fresh
produce at a price that beats traditional growing, FreshHub becomes
a true contender to break our reliance on long chain food supply
and provides additional advantages, like growing more nutritious
produce in any climate without the challenges of drought or climate
change."
The Company has received a CAD$1.2
million deposit from a private investor group for the
FreshHub purchase and installation in the Lower Mainland area of
Vancouver, British Columbia. Once
installed, this will be the largest commercial scale CubicFarm
System in the world.
The private investor group includes entrepreneurs Duane Indenbosch, Vaughn
Penner, and Howie
McCollister, collectively bringing generations of farming
and agriculture, as well as real estate investments.
Indenbosch is a successful investor in real estate
development, Penner has a strong agriculture and business
background as a founding partner of Independent Crop Inputs Inc.,
with gross revenues of over CAD$50
million, and McCollister is an experienced CEO steering
National HealthClaim Corp. and ATR Benefits Corp. from foundation
to operational successes in Canada.
"We're excited to be first to market with this game-changing,
next level vertical farming technology," said Indenbosch. "Reducing
food imports is critical to food security in Canada. We chose the award-winning CubicFarm
System technology because we believe it's the most cost-effective,
efficient, and sustainable indoor growing system. We're excited to
work collaboratively with the CubicFarms team on this project to
meet growing market demand, better conserve our natural resources,
and impact and improve food security."
"The FreshHub is more than just our CubicFarm System, it's a
combination of our modules, supporting infrastructure
configuration, and new features, culminating in a truly
breakthrough design," said Dinesen. "The market is demanding larger
systems. We're already fielding significant interest and a growing
sales pipeline for FreshHubs. We're localizing food by providing
people with direct, independent access to delicious, affordable
fresh food and minimizing our environmental impact by using
substantially fewer resources. With our technology, we're also
creating new specialized ag-tech farming jobs for the next
generation, boosting local economies and developing a passionate
local farming workforce for the future."
About CubicFarms
CubicFarms is a 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 division of CubicFarm Systems
Corp. The CubicFarms™ system contains patented technology for
growing leafy greens and other crops onsite, indoors, all year
round. CubicFarms provides an efficient, localized food supply
solution that benefits our people, planet, and economy.
For more information, please visit www.cubicfarms.com.
About AgTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and
recognition platform for global technology innovation and
leadership, the AgTech Breakthrough Awards program is devoted to
honoring excellence in agricultural technologies, services,
companies, and products. The AgTech Breakthrough Awards program
provides a forum for public recognition around the achievements of
AgTech companies and solutions in categories including farm
management, indoor farming, automation, IoT and robotics, food
quality, analytics and more. For more information visit
AgTechBreakthrough.com.
On behalf of the Board of Directors
"Dave Dinesen"
Dave Dinesen, Chief Executive Officer
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accuracy of this release. This news release may contain
forward-looking statements which include, but are not limited to,
comments that involve future events and conditions, which are
subject to various risks and uncertainties. Forward-looking
statements are not guarantees of future performance and actual
results may vary materially from those statements. General business
conditions are factors that could cause actual results to vary
materially from forward-looking statements.
SOURCE CubicFarm Systems Corp.