Agrify Corporation (NASDAQ: AGFY) shares gain ground Wednesday, as the Troy, Mich.-based provider of innovative cultivation and extraction solutions for the cannabis industry, today announced the signing of a Turnkey Hydrocarbon Extraction and Lab Equipment Package with Justice Cannabis Co. a licensed multi-state operator with 14 dispensaries around the Country now expanding into the New Jersey market.
Justice Cannabis has purchased Agrify’s Turnkey Hydrocarbon Extraction and Lab Equipment Package, which includes a X10 Hydrocarbon Extractor, Filtration Equipment, a Solvent Recovery System, a 20L Decarboxylation Package, a Diamond-Miner, and a Thin-Film Distillation System. In addition, Justice Cannabis has also purchased Agrify’s UL-Compliant C1D1 Explosion Proof Room to operate and extract quality products in. Agrify’s safe and easy to install C1D1/C1D2 extraction rooms are designed to be easily set up in less than one day and are equipped with a PSI technical report certification for professional engineers to field verify in all 50 states.
Agrify CEO Raymond Chang shared that “It is truly an honor to have the opportunity to work with the industry leading MSO, Justice Cannabis Co., across multiple states, and now in New Jersey. Agrify’s team has been working with Justice Cannabis since the project’s inception in 2022 and is extremely proud to be the partner of choice every step along the way. We are excited to see the new Justice Cannabis extraction facility coming to fruition in New Jersey.”
AGFY captured two cents, or 5.2%, to 41 cents.
