Vancouver BC / NEWSWIRE / October 29, 2019 /CNW/ - Agrios Global Holdings Ltd. (CSE: AGRO) (OTCQB: AGGHF) (FSE: ØSA - WKN-A2N62K) ("Agrios" or the "Company") reports that their proprietary agriculture technology platform of data analytics driven aeroponic cultivation has substantially reduced labour costs by 80%.
The Company recently announced substantial reductions realized by their licensee in numerous areas including nutrients, energy, and water at their environmentally controlled indoor growing facility. These operating efficiencies have lowered production costs and increased yield and profitability for cultivators utilizing the platform.
One of the highest costs associated with cannabis cultivation, in addition to energy costs is labour. Agrios’ platform operates with approximately 45 employees, while comparable sized operations usually require 200+ employees. Automated, real time data monitoring reduces labor costs by 80% as workers are not physically transplanting plants numerous times and monitoring or collecting data. Fewer hands-on workers are required and their efficiency is increased as they are trained to perform multiple functions from cloning to harvesting.
Agrios Aeroponic Cultivation Efficiencies:
- No soil eliminates the risk of weeds
- Facility design reduces the risk of pests, so no pesticides are utilized
- Once clones have established a root system, they do not require up potting
- Requires average of 45 employees compared to 200 (based on similar size facility)
- Ability to grow year-round increasing number of harvests per annum
- Ability to replicate exact growing conditions for crop quality, and yield consistency
- Ergonomic and environmentally sustainable modular design; scalable to size of operations
“Because there is no soil used in the Agrios platform there is no organic waste produced from transplantation, which requires proper disposal. The design of the Agrios facility minimizes the risk of pest attack, thus enabling the tenant to utilize environmental and biological controls instead of pesticides. Our research on plant density has also led to a dramatic increase in production efficiency for the tenant such that they have actually been able to increase overall yields while simultaneously reducing plant counts and the labor associated with the care of those additional plants”, stated Dr. Curt Livesay, Director of Agronomy at Agrios Global.
Aeroponic cultivation of cannabis is highly efficient for many reasons. The number of plants lost from cloning to harvesting is exceptionally low and harvest cycles are shorter. Soil grown cannabis plants have an average grow cycle of 90 days compared to Agrios tenants’ grow cycles which average 73 days, providing for up to 5 harvests per annum. Aeroponic growing methods offer the highest degree of control for cultivators looking to increase yield and ensure product consistency. Agrios’ automated, modular aeroponic grow systems also allow growers to scale incrementally so they can lower their upfront costs and start harvesting sooner.
Agrios efficiency lowers production costs with:
- 63% savings in Energy consumption for cultivation
- 70% reduction in plant Nutrient requirements
- 80% reduction in Labor costs with automated monitoring
- 90% reduction in Water usage, with some facilities near water neutral
Agrios’ platform enables cultivators to capitalize on the advantages of a precision-controlled aeroponic growing environment with the benefits of the above noted efficiencies growing consistent premium quality product. The optimization of crop consistency and yields at significantly reduced operating expenses results in lower production costs, which increases profitability.
About Agrios Global Holdings Ltd.
Agrios Global Holdings is a data analytics driven agriculture technology and services company advancing the latest innovations in indoor growing science. The Company owns, leases and manages properties and equipment for eco-sustainable agronomy and provides advisory services to support all aspects of aeroponic cultivation in the cannabis sector. Agrios is actively pursuing new opportunities to expand its portfolio of tenant growers and infrastructure assets in strategic licensed jurisdictions. Based in Vancouver, BC. Agrios is managed by a highly accomplished team of experienced industry and capital markets experts who are committed to the growth of the company.
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This news release was prepared by management of Agrios, which takes full responsibility for its contents. The Canadian Securities Exchange ("CSE") has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Agrios' periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements related to corporate strategy and Agrios’ ability to execute such strategy, future developments regarding Agrios’ expansion into various markets including numerous states within the United States of America, and into Asia, expected costs of hemp fiber, intended development and sales of hemp products, market demand for hemp products, and the business and operations of Agrios as it relates to the Yunnan Province
Although Agrios has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US Federal laws; change in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. Because of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. Agrios disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Agrios does not assume any liability for disclosure relating to any other company mentioned herein.