CubicFarm Systems Leads Local Chain Ag-Tech Revolution

Oct 22, 2021 | Press Releases

AMPLIFIED event launches industry category by highlighting commercial-scale technologies that grow fresh food and animal feed in any climate, year-round

VANCOUVER, B.C., October 22, 2021 – With severe drought, heatwaves, food insecurity and supply chain disruptions plaguing the planet like never before, CubicFarm® Systems Corp. (“CubicFarms” or the “Company”) (TSX:CUB) is responding with the most impactful and disruptive agricultural innovation since the introduction of vertical farming.

Attended virtually and in-person by more than 1,600 journalists, influencers, tech insiders, and industry and government guests, the CubicFarms AMPLIFIED event on October 21, 2021, marked the official launch of the local chain ag-tech industry category developed by the Langley-based company founded in 2015.

“The world needs an agricultural revolution and CubicFarms is leading it,” said Dave Dinesen, Chief Executive Officer, CubicFarms. “To save our planet and ourselves, we must grow what we eat where we live. It’s not enough to increase food and feed production. We must eliminate risks to our food supply chains by localizing production and bringing it indoors. By enabling every community to independently and sustainably produce enough fresh food and livestock feed in any climate 365 days a year, our indoor, automated and modular local chain ag-tech represents a whole new way to feed humanity for generations to come.”

A powerhouse roster of sustainability ambassadors joined Dinesen and other CubicFarms executives at the event. They included Canadian astronaut Commander Chris Hadfield; Henry Gordon-Smith, Founder and CEO of the Agritecture consultancy; and Dr. Lenore Newman, Director of the Food and Agriculture Institute at the University of Fraser Valley and chair of the CubicFarms Scientific Advisory Board.

“With local chain ag-tech, we not only become climate independent, we also decrease land use and the greenhouse gas emissions generated by transporting food,” Hadfield said in conversation with Dinesen, who pointed to United Nations research estimating that more than half the world’s population will rely on food sourced outside their countries by 2050. “This is the technology we absolutely need…it’s going to change the world.”

Several Farmer Partners were also on hand to explain how CubicFarms is helping them operate more sustainably and profitably. According to Michael Rigby of Utah’s Rigby Cattle Co., CubicFarms’ local chain ag-tech “saved our farm by allowing us to grow our own on-farm fresh livestock feed indoors. Our family has been in the cattle industry for generations, and we were considering getting out of the business entirely if we couldn’t get high-quality, nutritious feed for our cattle. Having a consistent, predictable feed supply no matter what the weather is essential for our family farm.”

At Swiss Leaf Farms Ltd., which recently became the site of CubicFarms’ commercial-scale Alberta Grow Centre, owners David and Alyssa Pfaeffli work with the CubicFarms team in conducting R&D and continuing to grow and sell produce locally. “We’re really proud that we can grow leafy greens right here in our community for the people who live here,” said David Pfaeffli. “They have a sense of trust in where they’re getting their food from, and in knowing how fresh it is. Increasing production isn’t good enough. We also need to ensure quality. Technology innovations like local chain ag-tech result in superior produce.”

Guests attending CubicFarms AMPLIFIED in person had the exclusive opportunity to sample ALLWays Local-branded produce, see CubicFarms’ technology in action, and learn more about the recently announced FreshHub, the company’s largest project to date. The first-ever renderings of this next-generation high-density system, which will include a remarkable 96 modules occupying a single acre of land, were also revealed at CubicFarms AMPLIFIED.

“FreshHub meets the increasing demand for more reliable and sustainable independent local food supply with high-density, cost-efficient production,” said Jeff Booth, Chair, CubicFarms. “By serving cities and communities where demand for high-quality fresh produce outstrips supply, FreshHub becomes a true contender to break our reliance on long supply chains while providing consumers with produce that’s both more nutritious and tastier than that which is shipped long distances.”

View the Company’s media kit here. To watch a recording of CubicFarms AMPLIFIED, click here to register for the virtual event and gain access to the replay.

About CubicFarms

CubicFarms is a 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 division of CubicFarm Systems Corp. The CubicFarms™ system contains patented technology for growing leafy greens and other crops onsite, indoors, all year round. CubicFarms provides an efficient, localized food supply solution that benefits our people, planet, and economy.

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On behalf of the Board of Directors

“Dave Dinesen”

Dave Dinesen, Chief Executive Officer

This release may contain certain “forward-looking statements” or “forward-looking information” under applicable securities laws. Forward-looking terms such as “may,” “will,” “could,” “should,” “would,” “plan,” “potential,” “intend,” “anticipate,” “project,” “target,” “believe,” “plan,” “outlook,” “estimate,” or “expect” and other words, terms and phrases of similar nature are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are based on certain key expectations and assumptions made by the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct.

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