Agrify Enters New Zealand Cannabis Market Through Sales And SaaS Licensing Agreement With Ora Pharm

Agrify Corporation AGFY, provider of advanced cultivation and extraction solutions for the cannabis industry, has signed a definitive agreement to supply Ora Pharm, a Waikato, New Zealand-based health and wellness company developing, sustainably-produced medicinal cannabis, with a full suite of end-to-end hardware and software products to be utilized at a 5,000-square-foot facility in Auckland, New Zealand.

Under the terms of the agreement, which has a base value of $1.625 million, Ora Pharm, a licensed cultivator and distributor of medicinal cannabis, has committed to purchase 20 vertical farming units (“VFUs”) that will be used to grow cannabis, as well as several cutting-edge extraction technologies including a C1D1 extraction pod, a C-15 centrifuge extraction system, and the CannaBeast 13 thin film distillation system. In addition, Agrify will provide access to the fully integrated Agrify Insights seed to sale automation software for five years in exchange for monthly recurring SaaS fees. All of these cultivation and extraction solutions will form a robust ecosystem to give Ora Pharm complete and precise control over the full life cycle of its botanicals from new plants to finished products and should enable Ora Pharm to achieve new operational efficiencies and better overall results.

Ora Pharm currently has an Australian market presence and contracts to strategically expand into the United States, Europe, Asia, and its home country of New Zealand. Additionally, Ora Pharm has recently received a coveted grant from Callaghan Innovation to research cannabis cultivation inputs in New Zealand. By employing Agrify’s solutions, Ora Pharm will gain new operational insight and data visibility to verify active ingredient levels.

“From the inception of Ora Pharm, I have placed a relentless focus on leveraging the most efficient and technologically advanced solutions to empower us to deliver premium industry products to our patients and global customers,” stated Zoe Reece, founder and CEO of Ora Pharm. “We look forward to further enhancing our capabilities in a major way with the addition of these Agrify technologies. The Agrify VFUs and clean extraction technologies will help Ora Pharm’s research and development program in the minor cannabinoids, ensuring that we are able to produce the best quality and value medicinal cannabis.”

Photo by Richard T on Unsplash

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Posted In: Callaghan InnovationOra PharmZoe ReeceCannabisNewsPenny StocksMarkets

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