NATURE'S MIRACLE HOLDING INC. SIGNS MOU FOR $150 MILLION EPC CONTRACT TO BUILD LARGE-SCALE INDOOR CANNABIS FACILITY IN CALIFORNIA

Core Viewpoint - Nature's Miracle Holding Inc. has signed a Memorandum of Understanding for a $150 million EPC contract to build a large-scale indoor cannabis cultivation facility in California, which is expected to be one of the largest in the state [1]. Group 1: Project Details - The facility will cover 88.38 acres, with approximately 660,000 square feet dedicated to indoor greenhouse space for year-round cannabis cultivation [1]. - The greenhouse will feature a fully controlled environmental system, including precise regulation of temperature, humidity, and CO levels, supported by advanced indoor grow lighting [1]. - The project is expected to be completed within 12 to 18 months, with Nature's Miracle serving as the primary EPC provider [1]. Group 2: Financial Aspects - The estimated production cost for cannabis from the facility is projected to be less than $200 per pound, positioning it among the lowest-cost producers in the United States [1]. - The facility will utilize a 40-megawatt off-grid photovoltaic solar generation system, with an estimated electricity cost of approximately $0.10 per kilowatt-hour [1]. Group 3: Strategic Importance - The project is designed to become a leading cannabis cultivation facility in the country and is expected to generate significant revenue for Nature's Miracle over the next 12 to 18 months [1]. - The advanced cultivation platform and technology are anticipated to enhance operational efficiency and yield consistency [1].