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 Turnkey Hydrocarbon Extraction and Lab Equipment Package with New England Edibles, dba SoundView, (“SoundView” or the “Customer”), a licensed operator based in Bristol, CT.
SoundView has purchased Agrify’s Turnkey Hydrocarbon Extraction and Lab Equipment Package, which includes Precision Extraction’s PX1 Hydrocarbon Extraction System, a Vacuum Oven Package, a 5L G3 Short-Path Distillation System, and C1D1 Fume Hood. In addition, SoundView has elected Agrify’s Precision Development Group (“Precision Development Group” or “PDG”) services to assist with a custom Concept Architecture Plan and Construction Document Plan sets for SoundView to meet compliance with the State of Connecticut to begin operation. Agrify’s PX1 Hydrocarbon Extraction System is a small footprint extractor that allows for a 3-5 lbs. run capacity every 30-45 minutes. SoundView’s choice of Agrify’s PX1 System will allow them to easily scale by adding PX Hydrocarbon material columns to expand their throughput without operational interruption.
Raymond Chang, Chairman and CEO of Agrify, shared that “We are pleased that Agrify’s expansive portfolio of products allows for our customers to enter new cannabis markets at various scales. We believe our key to success has been Agrify’s ability to provide turnkey support to our customers and eliminating the need for our customers to integrate different solutions. It is wonderful to partner with Soundview, one of the first Connecticut woman and veteran owned startup cannabis companies that prides themselves on promoting equity and inclusion in the industry and in disproportionately impacted areas of the State.”
Nick Cimadon, CEO at SoundView said “We at SoundView are extremely excited to be utilizing Precision Extraction’s Hydrocarbon Extraction Equipment Package to process and manufacture cannabis products to sell as wholesalers to retailers in the CT market. Agrify is the ONE partner you need. Their vertical integration of design, equipment, and training made setting up our extraction capabilities straightforward and timely.” SoundView currently holds a provisional license for food and beverage adult use cannabis and has secured a facility in Bristol, CT to begin operation this year.
