TROY, Mich. - Agrify Corporation (NASDAQ:AGFY), a provider of advanced cultivation and extraction solutions for the cannabis industry, has announced a significant agreement with Denver Cole Labs, a New Jersey-based operator. The contract, valued at approximately half a million dollars, includes a comprehensive Turnkey Ethanol Extraction and Lab Equipment Package.
The package features a range of high-tech equipment such as a C-15 Centrifuge Ethanol Extractor, Solvent Recovery System, and a Decarboxylation Package, designed to enhance Denver Cole's production capabilities. Additionally, Denver Cole has opted for Precision Extraction's C1D1 Extraction Booth for safe product manufacturing, and will utilize Agrify's EliteLab software for distillation control and operational optimization.
Raymond Chang, CEO and Chairman of Agrify, expressed enthusiasm about the partnership, emphasizing the trust operators place in Agrify's technology and team, especially in competitive markets. He highlighted the new system's ability to produce high-quality ethanol extracts consistently.
Agrify's role extends beyond equipment supply; their experts have been pivotal in selecting the right equipment under New Jersey's regulations and will continue to support Denver Cole with construction document preparation and compliance services.
Denver Cole, which holds licenses in Michigan for processing and cultivation, is also eyeing expansion opportunities in Illinois and other markets.
Agrify is known for its Vertical Farming Units (VFUs) and a comprehensive line of extraction products, including hydrocarbon, ethanol, and solventless extraction systems, which aim to maximize extract quantity and quality for cannabis concentrate producers.
This partnership is based on a press release statement and is part of Agrify's ongoing efforts to enhance cannabis production technology and support industry operators in achieving high standards in product quality and control.
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