Agrify Corporation Announces $3.4 Million Sales Order From New Jersey Woman-Owned Business HarvestWorks Farm

February 29, 2024

https://www.globenewswire.com/news-release/2024/02/29/2837874/0/en/Agrify-Corporation-Announces-3-4-Million-Sales-Order-From-New-Jersey-Woman-Owned-Business-HarvestWorks-Farm.html

TROY, Mich., Feb. 29, 2024 (GLOBE NEWSWIRE) — Agrify Corporation (Nasdaq:AGFY) (“Agrify” or the “Company”), a leading provider of innovative cultivation and extraction solutions for the cannabis industry, today announced the signing of a multi-year cultivation and extraction deal with HarvestWorks Farm, New Jersey (“HarvestWorks Farm” or the “Customer”), a licensed New Jersey operator. The multi-faceted transaction includes a $3.4 million cultivation and extraction order for 156 of Agrify’s Vertical Farming Units (or “VFUs”) and a complete Turnkey Pure Pressure Solventless extraction Lab Package, a 2-year Service Support Agreement at $350 per pound Production Success Fees (or “PSF”), and a 5-year of approximately $1 million SaaS Fee Agreement.

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