TROY, Mich., April 15, 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 financial results for the fiscal year ended December 31, 2023. During the quarter ended December 31, 2023, the Company achieved its first positive quarterly net income of approximately $572,000. Fourth Quarter 2023 Financial Results Summary Revenue was $2.8 million for the fourth quarter ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number: 001-39946 AGRIFY CORPORATION (Exact name of registrant as specified in its charter) | --- | --- | --- | |-------|-------|------ ...

Core Insights - Agrify Corporation announced the publication of new research on leafy green production in vertical farms conducted by the University of Georgia's Controlled Environmental Agriculture program using Agrify's Model R Horticulture LED lights [1][2] Group 1: Agrify's Technology and Research Collaboration - Agrify's Model R Horticulture LED lights, which are spectrum adjustable and certified by UL, DLC, and NSF, have been utilized by the University of Georgia since the opening of its first indoor research facility [2] - The Model R LED lights have demonstrated the ability to enhance cultivation yields and quality across various plant types, specifically in the cultivation of leafy greens like lettuce and spinach [2] - The research led by UGA's Associate Professor Rhuanito Ferrarezi focused on optimal airflow and nutrient levels for leafy green production in vertical farms, resulting in findings published on March 14, 2024 [3] Group 2: Impact and Future Directions - David Kessler, Chief Science Officer of Agrify, expressed satisfaction with the impact of Agrify's lighting research sponsorship on advancing UGA's research in indoor controlled environmental agriculture [4] - The collaboration aims to prepare the next generation of indoor horticulturalists and farmers, with expectations for continued support of the CEA program's indoor vertical farm [4] - Agrify's comprehensive approach combines data, science, and technology to enhance the quality and consistency of cannabis cultivation and extraction processes [6]

Core Insights - Agrify Corporation has signed a Turnkey Solventless Extraction and Lab Equipment Package with Blackstone Valley Cannabis, enhancing its presence in the cannabis industry [1][2] - The equipment package includes advanced extraction tools such as the Axis Trichome Separator and Longs Peak Rosin Press, along with a comprehensive training program for Blackstone Valley's team [2][3] - Agrify's CEO emphasized the company's commitment to quality and customer acquisition, highlighting the partnership with a local operator dedicated to high standards in cannabis production [3] Agrify Corporation - Agrify is recognized as a leading provider of innovative cultivation and extraction solutions for the cannabis industry, focusing on data, science, and technology [4] - The company offers proprietary Vertical Farming Units (VFUs) that enable cultivators to achieve high-quality products with improved consistency and return on investment [4] - Agrify's extraction product line includes various methods such as hydrocarbon, ethanol, and solventless extraction, aimed at maximizing both quantity and quality of cannabis extracts [4] Blackstone Valley Cannabis - Blackstone Valley Cannabis, established in 2018, is committed to quality cannabis production and has recently acquired a Medical Marijuana Treatment Center license [5][6] - The company operates a 24,000 square feet facility for cultivation and extraction, focusing on delivering high-quality products to the market [5] - Blackstone Valley aims to set a new standard for solventless extracts in Massachusetts, leveraging Agrify's advanced extraction equipment and training [2][5]

Core Insights - Agrify Corporation has signed a Turnkey Hydrocarbon Extraction and Lab Equipment Package with Justice Cannabis Co., a multi-state operator expanding into New Jersey [1][2] - The equipment package includes various advanced extraction and lab equipment designed for high-quality cannabis product extraction [2][5] - Justice Cannabis operates 14 dispensaries across 7 states and is focused on providing quality cannabis products [3] Equipment Details - The Turnkey Hydrocarbon Extraction and Lab Equipment Package includes an X10 Hydrocarbon Extractor, Filtration Equipment, a Solvent Recovery System, a 20L Decarboxylation Package, a Diamond-Miner, and a Thin-Film Distillation System [2] - Agrify's UL-Compliant C1D1 Explosion Proof Room is also part of the package, designed for safe and efficient extraction operations [2] Company Background - Justice Cannabis Co. was founded in 2014 by civil rights attorneys and is committed to providing high-quality cannabis products [3] - The company operates three dispensaries in New Jersey under the name Bloc Dispensary and sells flower under the Crops brand [3] Partnership Significance - Agrify's partnership with Justice Cannabis began in 2022 and aims to support the buildout of a 72,000 square feet cultivation and extraction facility [3][4] - Both companies express enthusiasm about the collaboration and the potential for bringing extraction-based products to the New Jersey market [4]

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 Farmin ...

TROY, Mich., Feb. 28, 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 pricing of its public offering of 6,723,684 shares of common stock (or pre-funded warrants in lieu thereof) at a public offering price of $0.38 per share. Gross proceeds, before deducting placement agent fees and other offering expenses, are expected to be approximately $2.6 million. T ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of report (Date of earliest event reported): February 21, 2024 AGRIFY CORPORATION (Exact name of registrant as specified in its charter) Nevada 001-39946 30-0943453 (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification No. ) 2468 Industrial Row Dr. Troy, MI 48084 (Address of principal executive ...

Core Insights - Agrify Corporation has successfully installed a PX-30 Hydrocarbon Extraction System at a customer's facility in Michigan, marking a significant advancement in hydrocarbon extraction technology for the cannabis industry [1][4] Company Overview - Agrify is a leading provider of innovative cultivation and extraction solutions for the cannabis industry, focusing on data, science, and technology to enhance market offerings [5] - The company offers a comprehensive extraction product line, including hydrocarbon, ethanol, and solventless extraction systems, aimed at maximizing the quality and quantity of cannabis extracts [5] Product Features - The PX-30 Hydrocarbon Extraction System is designed for high extraction efficiency, capable of producing over 240 lbs. of high-quality extracts per 8-hour shift [3] - The system features an operational design that prioritizes user experience, with ultra-low temperature operation and fast recovery times, ensuring ease of use for operators [3] - Safety and compliance are key aspects of the PX-30, which is built to meet 3A sanitary and cGMP standards [3] Customer Engagement - Lume Cannabis, the customer utilizing the PX-30 system, previously operated with Agrify's XMU Hydrocarbon Extraction System and upgraded to the PX-30 to meet growing demand for premium extracts [2] - The Lab Manager at Lume Cannabis expressed satisfaction with the installation process and the support provided by Agrify's Precision Extraction Solutions team [2]

TROY, Mich., Jan. 31, 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 that the Company has received formal notification that the Nasdaq Hearings Panel (the "Panel") has granted the Company's request for continued listing on The Nasdaq Capital Market pursuant to an extension through April 15, 2024, to evidence compliance with Nasdaq Listing Rule 5550(b)(1) (t ...