VANCOUVER, British Columbia, March 7, 2023 – CubicFarm® Systems Corp. (“CubicFarms” or the “Company”) (TSX:CUB), a leading local chain agricultural technology company, today announced that its livestock feed subsidiary company, HydroGreen Inc. (“HydroGreen”), has finalized the installation of two previously sold machines to Jim Cheney Inc. in Utah.
The equipment was delivered on-site in late December with installation complete in February 2023. Cheney Farms, a beef operation in Fairview, Utah, are now feeding sprouted grain from two HydroGreen DGS 66 machines to their own and neighbouring cattle and can harvest up to 1,150 dry matter pounds per day. Owners Jim and Judy Cheney plan to use the investment to expand their cattle ranch.
“For us the decision was simple—it made a lot more sense to invest in HydroGreen equipment to expand our business than it did to acquire more land,” says Jim Cheney. “With the first two machines, we can feed approximately 250 head of cattle, and if we purchase a third machine in the future, which we’ve built the barn to accommodate, we’ll be able to add another 100 to 130 animals which will allow us to sustain our family with the ranch, and that’s been a long-time goal.”
“HydroGreen has continuously focused on research and development, enabling us to explore the potential applications of our sprouted-grain feed for ruminant livestock,” says HydroGreen President, John de Jonge. “By including HydroGreen in beef programs like Cheney’s, producers can improve ration consistency and quality, enhance animal productivity, extend the functional life of pastures, and increase stocking densities. The Company has successfully installed 24 machines, with another 19 projects in our global pipeline of potential machine sales contracts, and we continue to see strong demand for the HydroGreen solution.”
“Our growing customer base continues to solidify their understanding of what HydroGreen sprouted grains can do for their animals and their businesses,” says Candace Dyer, Director of Sales and Customer Service at HydroGreen. “They are consistently growing high-quality sprouted grain forage in the tonnage they need, and this progress is garnering a lot of attention which has intensified awareness, especially in the Intermountain West region in the US, where there is a strong need for our technology and our high-performance feed ingredient.”
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.
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.
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.