Mary Agrotech Signs Deal with One of the Largest Food Companies in China
Markham, Ontario--(Newsfile Corp. - July 21, 2022) - Mary Agrotechnologies Inc. (CSE: MARY) (OTCQB: MRRYF) ("Mary Agrotech" or "the Company") is pleased to announce that the Company entered a strategic partnership with Bright Seedbase (Shanghai) Technology Co., Ltd. ("Bright"), the vertical farming and cultivar R&D arm of China's Bright Food (Group) Co., Ltd. ("Bright Food").
Bright Food (officially Bright Food (Group) Co., Ltd.) is a multinational food and beverages manufacturing company headquartered in Shanghai, China. One of the largest China-based food manufacturing companies in the world, it grossed approximately USD $23.2 billion (RMB ¥155.7 billion) in revenue in 2020. Bright Food is also a majority shareholder of Israel's largest food manufacturer Tnuva and Australia's Manassen Foods.
The partnership covers a range of subjects including:
- R&D in cultivation of various kinds of crops in controlled environment and vertical farms, such as vegetables, fruits, high-value crops (e.g. wasabi, vanilla, tea, tobacco), medicinal herbs, green fodder (e.g. alfalfa);
- Bright will consider Mary Agrotech as a preferred candidate in Bright's future vertical farming projects, partially or fully, in design, construction, renovation, and operation processes.
As of July 21st, 2022, Mary Agrotech has worked with Bright on the Bright Seedbase Vertical Farming Pilot Campus and provided a vertical farm in a standard 20-foot container.
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"We are incredibly thrilled to work with one of the top conglomerates in China," said Frank Qin, CEO of the Company. "With interests in vertical farming and controlled-environment agriculture rapidly growing in China, we noticed Mary Agrotech's innovations - from AI-driven cultivation to smart hardware to management apps - give us many competitive advantages over other companies in the country."
About Mary Agrotechnologies Inc. (CSE: MARY) (OTCQB: MRRYF)
On a mission to bring food self-sufficiency to every community on this planet, Mary Agrotechnologies Inc. is an agricultural technology company that develops, manufactures, and markets automated growing systems integrated with data-driven artificial intelligence.
An integrated suite of hardware and software, the ag-tech company's proprietary automated growing systems make growing various kinds of crops substantially more sustainable, predictable, consistent, and cost-effective. For both at-home growers and commercial indoor operators, the technology platform makes cultivation independent from local climate, which makes farming agnostic of geographical location and season.
Certain information in this press release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions, a description of which is set out in the risk factors section of the Company's Management Discussion and Analysis for the year ended September 30, 2021 which is filed with Canadian securities regulators and available on SEDAR at www.sedar.com. The forward-looking information contained in this press release presents the expectations of the company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the company may elect to, the company does not undertake to update this information at any particular time, except as required by applicable securities legislation.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131501