Agrify Enters Into a 10-Year Agreement with Gold Leaf For Its Total Turn-Key Solution 


Over $140 Million in Revenue Expected Over the First Three Years of Cultivation and Over $400 Million in Total Revenue Projected for the 10-Year Term of the Agreement Expands Agrify’s Footprint to Lucrative and Fast-Growing Florida Cannabis Market BILLERICA, Mass., January 4, 2022 – Agrify Corporation (Nasdaq:AGFY) (“Agrify” or the “Company”), the most innovative and vertically integrated provider of premium cultivation and extraction solutions for the cannabis and hemp industry, today announced it has signed a definitive agreement (the “Agreement”) for its largest Agrify Total Turn-Key Solution (“Agrify TTK Solution”) partnership to date with Gold Leaf Florida LLC (“Gold Leaf”), a leading licensed medical marijuana treatment center based in Myakka City, Florida. The Agreement, which is the first for Agrify in the flourishing Florida cannabis market, is expected to generate more than $140 million in revenue for Agrify over the first three years of cultivation and over $400 million of estimated total revenue over the full 10-year term of the partnership. Gold Leaf is one of only 22 licensed centers and one of only 16 active operators in Florida, and the organization is planning to open 20 dispensaries in the state by 2024. Medical marijuana treatment centers like Gold Leaf are the only businesses currently authorized to cultivate, process, and dispense low-THC cannabis and medical marijuana in Florida. Under the terms of the 10-year Agreement, Agrify will be installing 1,510 of its Vertical Farming Units (“VFUs”) at Gold Leaf’s 200,000-square-foot facility, with 100,000 square feet dedicated to VFU cultivation. Gold Leaf plans to build four additional 200,000-square-foot facilities in Florida, for a total of one million square feet, and Agrify hopes to support Gold Leaf through all of this anticipated future growth with the installation of several thousand more VFUs. The initial Agreement also includes architectural and engineering services, recurring…

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Source : Agrify Enters Into a 10-Year Agreement with Gold Leaf For Its Total Turn-Key Solution 

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