CubicFarms Announces Sale of HydroGreen's Commercial-Scale Equipment to Leading Italian Dairy

VANCOUVER, BC, Aug. 24, 2023 /CNW/ - CubicFarm® Systems Corp. ("CubicFarms" or the "Company") (TSX: CUB), a leading agricultural technology company, announced that its ruminant livestock feed subsidiary company, HydroGreen Inc. ("HydroGreen"), has closed a sale with Cirio Agricola S.r.l., a prestigious, technologically-advanced dairy farm in Piana di Monte Verna, Italy, and one of the country's top producers of milk.

In this deal, six HydroGreen GLS 808 machines (one GLS "system") will be sold to Cirio Agricola via Feed Solutions LLC, HydroGreen's distribution Partner for the Italian market. "We are honoured to have Cirio Agricola as our partner, as the most technologically advanced dairy in Italy, they continue to pave the road for a gold standard in sustainable milk production," says Managing Member of Feed Solutions LLC, Nick Del Verme. The GLS system can produce over 34,000 pounds of feed per day, which Cirio plans to incorporate into the ration for over 750 dairy cows, representing 18% of their herd.

This sale in Italy punctuates HydroGreen's continued strategic shift toward integrating its innovative technology into progressive dairy markets. "We are so excited about this landmark sale of our large-scale equipment to this excellent dairy operation in Italy," says HydroGreen President, John de Jonge. "The HydroGreen solution can significantly increase the production of milk, improve regional food security, and reduce the environmental footprint of production agriculture; it's like a panacea of solutions for dairy farms, making it especially beneficial for European countries where there are numerous subsidies readily available to farms like Cirio who want to invest in our equipment."

HydroGreen's renewed focus on international markets is equal priority to a new facet of the company's U.S. strategy, which is to build feed hub facilities to sell the harvested feed by the ton to neighbouring dairy farmers, starting with a facility in Riverdale, California.

Forward looking and other cautionary statements  
Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including, without limitation, statements with respect to: the estimated harvesting capabilities of the machines, nutritional benefits of feed produced by the machines and quality of the feed in general. Such statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such statements can be identified by the use of words such as "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict", and other similar terminology, or state that certain actions, events, or results "may", "can", "could", "would", "might", or "will" be taken, occur, or be achieved.

These statements reflect the Company's current expectations regarding future events, performance, and results and speak only as of the date of this news release. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except as required by securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if the Company's expectations regarding future events, performance, or results change.

About HydroGreen
HydroGreen produces Automated Vertical Pastures™, a type of smart farming equipment that uses a unique process to sprout grains such as wheat and barley, in a controlled growing environment to efficiently produce a high-performance feed ingredient for livestock 365 days a year. HydroGreen's equipment is simple and easy to operate and performs all growing functions automatically, including seeding, watering, lighting, harvesting, and re-seeding, which allows livestock businesses to feed consistent nutrition every day with minimal labour. When balanced correctly in the ration, HydroGreen sprouted grain modifies animal digestion which enhances productivity and reduces the amount of enteric methane emitted in ruminant livestock. The result also enables environmental benefits to the farm while helping to meet increasing demand for valuable farm-based inset and offset carbon credits.  For more information, please visit www.hydrogreenglobal.com.

About CubicFarms 
CubicFarms is a leading local chain agricultural technology company developing and deploying technology to feed a changing world. Its proprietary ag-tech solutions enable growers to produce high quality, predictable produce and fresh livestock feed with HydroGreen Nutrition Technology, a subsidiary of CubicFarm Systems Corp. The CubicFarms™ system contains patented technology for growing leafy greens and other crops on-site, indoors, all year round. CubicFarms provides an efficient, localized food supply solution that benefits our people, planet, and economy.  For more information, please visit www.cubicfarms.com.

About Cirio Agricola
Milk production is the company's core business with 23 million litres of production per year, making Cirio Agricola the leading milk producer in Italy. The zootechnical center covers a total area of 26 hectares, where they manage the largest herd of dairy cows in the nation. The herd consists of approximately 4,000 heads of the "Frisona Italiana" breed.

Cirio Agricola is a fully robotic and 4.0 livestock company, equipped with the most advanced IoT Technologies to allow continuous monitoring and remote management of the herd. Innovation is a continuous process for Cirio Agricola. Cirio is committed to enriching the company's know-how through the research and development of new technologies, fertile ground for maintaining a mindset that is always looking toward the future. Cirio Agricola is taking charge of an ecological transition within the company, also through the use of innovative products and processes that drastically reduce the emission of odorous and climate-altering substances into the atmosphere. For more information, please visit www.cirioagricola.it.

About Feed Solutions LLC
Feed Solutions, LLC is the exclusive authorized HydroGreen distributor for Italy. They specialize in the sale and service of the HydroGreen's Automated Vertical Pastures™ Hydroponic System. For more information, please visit www.feedsolutionsllc.com.

SOURCE CubicFarm Systems Corp.

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