Agrify Corp Bags $3.4M Sales Order From New Jersey Woman-Owned Business HarvestWorks Farm
Portfolio Pulse from Benzinga Newsdesk
Agrify Corporation (NASDAQ:AGFY), a leader in cultivation and extraction solutions for the cannabis industry, has secured a $3.4 million sales order from HarvestWorks Farm, a woman-owned business in New Jersey. The deal includes 156 Vertical Farming Units, a Turnkey Pure Pressure Solventless extraction Lab Package, a 2-year Service Support Agreement with $350 per pound Production Success Fees, and a 5-year SaaS Fee Agreement worth approximately $1 million.
February 29, 2024 | 12:38 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Agrify Corporation has announced a significant sales order worth $3.4 million from HarvestWorks Farm, a New Jersey-based woman-owned business. This deal not only includes the sale of 156 Vertical Farming Units and a complete extraction lab package but also encompasses service and software agreements potentially boosting Agrify's recurring revenue streams.
This sales order is significant for Agrify as it not only involves a substantial upfront purchase but also establishes long-term revenue streams through service and software agreements. The deal's size and the inclusion of multiple facets of Agrify's offerings suggest a strong vote of confidence from HarvestWorks Farm in Agrify's technology and services. This could potentially lead to increased investor confidence in Agrify's business model and its ability to secure large, multifaceted contracts, likely resulting in a positive short-term impact on AGFY's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100