urban-gro, Inc. Continues Execution on Its Initial Strategic Growth Initiatives and Provides Corporate Update
March 09 2021 - 9:25AM
urban-gro, Inc. (NASDAQ: UGRO) (“urban-gro” or the “Company”), a
leading global horticulture company that engineers and designs
commercial Controlled Environment Agriculture (“CEA”) facilities
and integrates complex environmental equipment systems, today
provided its first corporate update since listing on Nasdaq,
highlighting recent achievements and accomplishment of near-term
objectives.
“We have made significant progress in recent
months to position the Company for both immediate and long term
success. One of these initiatives revolves heavily around our
marketing strategy, and moreover, the leadership that will drive
the execution of our new multi-faceted approach. Bolstering our
experienced team, we are excited to welcome back Barbara Jacobs as
our Vice President of Marketing, to lead and further develop
initiatives and campaigns to strengthen our sales opportunity
pipeline,” commented Bradley Nattrass, Chief Executive Officer and
Chairman of urban-gro. “Barbara is a driven leader with strong
experience in the CEA sector, and beyond leveraging her significant
strengths, I am extremely excited about Barbara returning to the
urban-gro team. Her return evidences the strength of our culture
and our commitment to diversity in senior leadership.”
Company signs first Canadian engineering
and design services contract for CEA vertical farming
facility
Leveraging learnings from working on over 300
Projects in the cannabis-focused CEA space, urban-gro entered into
an engineering and design services contract with Interius Farms, a
Canadian company specializing in growing leafy greens and culinary
herbs.
Under the terms of the agreement, urban-gro will
provide cultivation space planning (CSP), Mechanical, Electrical,
Plumbing Engineering (MEP), and Integrated Cultivation Design (ICD)
to position Interius Farms to provide Canadians with produce grown
locally.
“We are excited to be working with Interius
Farms and their innovative and patented approach to growing fresh
and sustainable foods for the Canadian market. We are leveraging
our design and engineering experience of high-performance
facilities in cannabis to deliver an efficient, holistic,
end-to-end engineering and design solution for Interius Farms,”
added Jim Dennedy, urban-gro’s President and Chief Operating
Officer.
Delivering on Expanded Offering in Line
of Complex Environmental Equipment Systems
Since expanding the company’s complex
environmental equipment offering in 2020, urban-gro has made its
first delivery of a purpose-built HVAC mechanical system that
generates approximately 1,000 Tons of A/C to service a 50,000
square foot cannabis cultivation facility.
“When we engineer and design CEA facilities, we
design the entire ecosystem, paying close attention to how each
piece of equipment interacts not only with each other, but also the
overall environment. For this reason, we deemed it imperative to
invest in our mechanical solutions offering. After a year of
building and refining our go-to-market strategy for these complex,
custom mechanical systems, I am extremely pleased with our team and
partners as we achieved our goal of delivering our first system in
Q1,” concluded Mr. Nattrass.
About urban-gro, Inc.urban-gro,
Inc. (NASDAQ: UGRO) is a leading engineering design and services
company focused on the commercial horticulture market. We
engineer and design commercial Controlled Environment Agriculture
(“CEA”) facilities and then integrate complex environmental
equipment systems into these high-performance
facilities. Operating in the global market, our
custom-tailored approach to design, procurement, and equipment
integration provides a single point of accountability across all
aspects of growing operations. Visit urban-gro.com to learn
more.Safe Harbor StatementThis press release
contains forward looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. When used in
this release, terms such as “believes,” “estimates,” “should,”
“could,” “would,” “plans,” “expects,” “intends,” “anticipates,”
“may,” “forecasts,” “projects” and similar expressions and
variations as they relate to the Company or its management are
intended to identify forward-looking statements. Such
forward-looking statements are based on current expectations,
forecasts, and assumptions that involve risks and uncertainties
that could cause actual outcomes and results to differ materially
from those anticipated or expected, including statements related to
the demand for our services and products, our ability to manage the
adverse effect brought on by the COVID-19 pandemic, our ability to
execute on our strategic plans, our ability to achieve positive
cash flows or profitability, our ability to achieve and maintain
cost savings, the sufficiency of our liquidity and capital
resources, and our ability to achieve our key initiatives for 2020.
A more detailed description of these and certain other factors that
could affect actual results is included in the Company’s filings
with the Securities and Exchange Commission. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. The Company undertakes no
obligation to update any forward-looking statements to reflect
events or circumstances after the date hereof, except as may be
required by law.urban-gro Investor Relations
Contact:Jenene ThomasChief Executive OfficerJTC Team,
LLCT: 833.475.8247 investors@urban-gro.com
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