Agrify Corp (NASDAQ: AGFY) released a statement announcing that it has agreed with Curaleaf Holdings Inc (OTCMKTS: CURLF). As part of the collaboration agreement, the two partners will carry out research. The study will be evaluating the impact of specific environmental conditions created and controlled by Agrify’s Vertical Farming Units (“VFUs”) and Agrify Insights™ software platform on harvest yields, plant terpene profiles, and flavonoid concentrations. Furthermore, the research will focus on cannabis flowers. The study will explore and analyze techniques to enhance the aesthetic appeal, aroma, and chemical profile of the cannabis flower. A source shared that as part of the research study, the team of experts will study the maturation of the chemical profile of the plants over their lifecycle. In addition, as part of the research plan, the team involved in the research will study the effect of regulated environments on the overall health and longevity of cannabis plants.
Terms of agreement of the research
Under the partnership, Agrify Corp will be responsible for supplying its VFUs and using the Company’s Agrify Insights™ software platform for three years at Curaleaf Holdings Inc primary R&D facility located in Massachusetts. The period of supply can be extended to three years, depending on the need and status of the research.
Optimized cultivation environments will be created using the technology and expertise of Agrify Corp. In addition, all test data collected by Agrify Insights™ will be jointly owned.
Officials from both companies make an official statement
“We are thrilled to announce our first MSO collaboration and honored to partner with Curaleaf to advance this important research,” said Raymond Chang, Chief Executive Officer of Agrify. “Curaleaf is a cannabis industry leader, and our shared research will demonstrate the critical importance that an optimally controlled environment can play on the cultivator’s ability to consistently produce high-quality flower. I am proud to showcase our cutting-edge indoor vertical farming grow cultivation technology and assist Curaleaf in growing the high-quality, consistent cannabis they are known for in the most cost-effective manner possible.”
“Since our inception, we have been committed to providing our customers with premier and innovative cannabis products and experiences, with a relentless drive for quality,” said Joseph Bayern, Chief Executive Officer of Curaleaf. “The cultivation environment plays a critical role in the plant’s chemical composition, and we believe this research will help to further increase understanding of the conditions required to optimize a plant’s genetic potential.”