Mary Agrotech Signs Deal with One of the Largest Vertical Farms in China
Markham, Ontario--(Newsfile Corp. - October 18, 2021) - Mary Agrotechnologies Inc. (CSE: MARY) (OTCQB: MRRYF) ("Mary Agrotech" or "the Company") is pleased to announce that the Company entered a strategic partnership with Changzhi Yufeng Agricultural Technology Development Co. Ltd. ("Yufeng"), one of the largest vertical farms in China.
Based in Shanxi, China, Yufeng owns and operates one of the largest vertical farms in the country, which is dubbed as a "plant factory." The parties have agreed to collaborate on a pilot project of 700 square meters (approx. 7,535 sq. ft.) with Mary Agrotech's proprietary automation technology, including its proprietary vertical farming hardware and AI-driven automation software.
"The farm is in a great location as over 600 million people reside within its 500-mile radius. As only about 12% of China's landmass is arable, food security is a key focus for the country, and this pilot is proof that our technology has its unique advantages to be a part of that massive market," said Frank Qin, CEO of the Company. "It's a foot in the door. Now that Yufeng - one of China's leaders in vertical farming and controlled-environment agriculture - is adopting our technology, we are already fielding additional opportunities."
According to official data, 16.1% of China's soil and 19.4% of its arable land showed contamination, an area larger than the total area of the UK, France, and Spain combined. As China's middle class population reached 700 million in 2020, and is expected to add another 350 million by 2030, demand for quality food has been rapidly growing.
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.
The company's first fully commercialized offering using its technology platform is the Model Z, a stylish, enclosed, and automated grow box that helps mainstream cannabis consumers grow at home with ease, requiring no previous experience or knowledge in cannabis growing. Model Z is currently available in Canada and legal jurisdictions in the United States.
Mary Agrotechnologies Inc. was founded in 2017 and is headquartered in the Greater Toronto Area, Canada.
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/99908