Agrify Corporation (NASDAQ: AGFY), a prominent supplier of advanced cultivation and extraction technologies for the cannabis sector, has recently formalized an agreement with Justice Cannabis Co., a multi-state licensed operator known for its 14 dispensaries nationwide, to enter the burgeoning New Jersey market.
The agreement entails Justice Cannabis's acquisition of Agrify's comprehensive Hydrocarbon Extraction and Lab Equipment Package. This package includes the X10 Hydrocarbon Extractor, Filtration Equipment, Solvent Recovery System, a 20L Decarboxylation Package, Diamond-Miner, and Thin-Film Distillation System. Furthermore, to ensure safe and efficient operations, Justice Cannabis has also secured Agrify's UL-Compliant C1D1 Explosion Proof Room, renowned for its quick and straightforward installation process that takes less than a day and comes with a PSI technical report certification, validating its safety across all 50 states.
Originating in 2014 by civil rights attorneys in Chicago, Illinois, Justice Cannabis Co. was driven by the founders' ambition to deliver high-quality cannabis products universally. Built on the principles of adventure and exploration, Justice Cannabis has consistently showcased the significant potential of cannabis in fostering communal well-being through its varied product lines, retail experiences, partnerships, and educational initiatives. Currently, Justice Cannabis is licensed in seven states, including Illinois, Pennsylvania, Massachusetts, New Jersey, Michigan, Missouri, and Utah. In New Jersey, it operates three dispensaries under the Bloc Dispensary brand and distributes its flower products under the Crops brand. The partnership with Agrify aims to enhance Justice Cannabis's new cultivation and extraction facility, spanning approximately 72,000 square feet.
Raymond Chang, Chairman and CEO of Agrify, expressed his enthusiasm about the collaboration, stating, "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. Our team has been involved with Justice Cannabis since the project's inception in 2022, and we take great pride in being their partner of choice at every step. We are eagerly anticipating the completion of the new Justice Cannabis extraction facility in New Jersey."
Echoing the sentiment of successful past collaborations, Alexzandra Fields, President of Justice Cannabis Co., remarked, "After our positive experience with Agrify on our Illinois extraction facility, choosing them for our New Jersey venture was a natural decision. We are very satisfied with the performance of their equipment and are excited to introduce extraction-based products to the New Jersey market."
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