agrify vertical farming currently sells cannabis vertical farming units that are computer-controlled. But that’s only the beginning for Agrify. As it builds out a total solution provider for the cannabis industry, the company is quickly going vertical, adding features and acquiring more companies.
In the United States, cannabis is one of the most valuable crops. It’s worth $6.2 billion, according to Leafy’s Cannabis Harvest Report 2021 (PDF), and that’s only in the eleven states where it’s legal for adult retail purchase.
Cannabis growers, like any other commercial farmer, use a variety of techniques to raise yields and improve the flavour, size, and durability of their crops. These farmers frequently employ many platforms from various providers. That’s typical in 2021, as every CTO knows. Agrify seeks to revolutionise the way things are done. raymond chang agrify
Agrify wants to be the grower’s only system, and agrify corporation it sells a platform that gives growers complete control over the process. The business will also supply a comparable system for the extraction process, allowing users to cultivate, harvest, and process cannabis with only one system, thanks to two recent acquisitions. And the firm has no plans to stop there.
agrify ceo Raymond Chang tells me he sees Agrify becoming one of the fastest-growing and most vertically integrated solutions in the cannabis space. agrify corporation nasdaqagfy
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Raymond Chang co-founded the firm in 2016, and it has already secured $4.5 million in two rounds of investment. Chang took the company public in January 2021 rather than seeking further venture funding. The stock began trading at $12.74 and rose to an all-time high of $33.06 in August before falling to $15 in October. The stock is rising as of this writing, swiftly approaching its all-time high.
Despite operating in the cannabis industry, Agrify is a NASDAQ-listed business since it does not package cannabis with its equipment. It’s considered a non-plant touching, peripheral firm to the cannabis sector. This is critical. big growth move but investors
The company sidesteps all the regulatory hurdles facing plant-touching cannabis companies, including the restrictive banking and fundraising laws.
Chang has no regrets about bringing agrify insights to the public eye. There are benefits and drawbacks, he added, emphasising that the corporation needs to be more disciplined and transparent, but that the IPO provided a cash windfall.
“Partially because we’re public, we were able to buy these two very fantastic extraction firms [Precision Extraction Solutions and Cascade Sciences],” Chang added. We can do so in both cash and [company stock] shares. Internally, the goal is to fill two-thirds of the growth gap through organic growth, but a third will almost certainly come from acquisitions. As a result, we’ll continue to consolidate the industry. It’s also a great benefit to have that public money.” stock price news charts
Genetics is the foundation of the Agrify growth platform. Growers can choose from a range of pre-selected Agrify-compatible stains. Because the system is working with a known quantity, the platform can maximise yield by controlling a number of important variables such as lighting, watering, and humidity. There will be no more guesswork. Choose your genetics and let Agrify’s technology take care of the rest, from seed to store.
The business relies heavily on the company’s high-tech vertical farming units (VFUs). price for agrify agfy High-value plants including cannabis, hemp, and other herbs are housed and grown on these growth racks. Because the units stack, cultivators may produce two sets of plants in the same space as one. The apartments are connected by a gangplank.agrify stock
Chang stated, “I notice persistent consistency concerns surrounding cultivation, and it’s much worse regarding cannabis 2.0 goods.”
Customers may either send their raw harvest to a processor or process it themselves, according to Agrify. Agrify, of course, urges producers to choose the latter.
Precision Extraction Solutions and Cascade Sciences, two prominent cannabis and hemp extraction and processing firms, were recently purchased for $50 million by the corporation. These two firms previously worked with 30 multi-state operators and over 1000 cannabis and hemp consumers, according to Agrify. Agrify now has a physical presence in seven states as a result of this deal. marijuana stock just made