Agrify Corporation Partners with Denver Cole Labs to Elevate Cannabis Extraction Technologies

February 20th, 2024 Business & Industry
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Agrify Corporation (NASDAQ: AGFY), a leading provider of state-of-the-art cultivation and extraction solutions in the cannabis sector, has recently announced a substantial collaboration with Denver Cole Labs, a prominent New Jersey-based cannabis operator. This partnership, valued at an estimated $500,000, entails the provision of an all-encompassing Turnkey Ethanol Extraction and Lab Equipment Package to Denver Cole Labs.

Included in this package is a selection of cutting-edge technology designed to bolster Denver Cole's production efficiency. Among the advanced equipment provided are the C-15 Centrifuge Ethanol Extractor, a Solvent Recovery System, and a Decarboxylation Package. To ensure the safety and integrity of the product manufacturing process, Denver Cole has also chosen to incorporate Precision Extraction's C1D1 Extraction Booth. Further enhancing operational excellence, Denver Cole will employ Agrify's EliteLab software, which facilitates superior distillation control and optimizes overall operations.

Raymond Chang, the CEO and Chairman of Agrify, shared his excitement about the new partnership, underscoring the confidence that cannabis operators have in Agrify's innovative technology and expertise, particularly within competitive landscapes. He pointed out that the system is engineered to consistently yield high-quality ethanol extracts.

Agrify's involvement with Denver Cole Labs extends beyond mere equipment supply. The company has played a crucial role in the selection of appropriate equipment in compliance with New Jersey's stringent regulations. Agrify will also provide ongoing support in the preparation of construction documents and compliance services, further ensuring the success of Denver Cole's operations.

Denver Cole Labs is not only operational in New Jersey but also holds processing and cultivation licenses in Michigan and is actively exploring expansion possibilities in Illinois and other regions.

Agrify's reputation in the cannabis industry is bolstered by its Vertical Farming Units (VFUs) and an extensive range of extraction products, including systems for hydrocarbon, ethanol, and solventless extractions. These innovations aim at maximizing both the quantity and quality of cannabis concentrates.

This partnership, detailed in a recent press release, marks a significant step in Agrify's commitment to advancing cannabis production technology and aiding operators in the industry to meet and exceed high standards of product quality and regulatory compliance.

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