VANCOUVER, BC, CubicFarm® Systems Corp. ("CubicFarms" or the "Company") (TSX: CUB), a leading local chain agricultural technology company, today announced that its animal feed division, Hydrogreen Inc. ("HydroGreen"), has sold a seven-system GLS 808 valued at CAD$1.9 million.
HydroGreen Sale in South Dakota
HydroGreen has signed a definitive purchase agreement for the sale of seven HydroGreen GLS 808 machines valued at CAD $1.9 million to DGI Feeds, an equine feed company and certified HydroGreen dealer based in Mitchell, South Dakota.
DGI Feeds manufactures high-performance feed products for the equine industry using a proprietary blend of ingredients, including the sprouted-grain crop that HydroGreen equipment produces.
"CubicFarms has invested significantly in HydroGreen over the course of three years, primarily toward research and development, allowing our research team to study the application of HydroGreen sprouted-grain feed," says HydroGreen President, John de Jonge. "Going into 2023, we're equipped with more animal science data, and at the same time we're seeing agricultural water use regulations take effect in lower basin states like California, so I believe we are at a critical tipping point of demand for HydroGreen feed."
The seven HydroGreen machines purchased by DGI Feeds will fill a 17,000 square foot production and manufacturing facility in Mitchell, South Dakota. With seven HydroGreen machines, DGI Feeds will be able to harvest approximately 10,500 pounds of dry matter per day to use in their expanding equine feed product line. Two HydroGreen machines will be installed immediately, with the remaining machines to be installed by June 2023.
"Sprouted-grain feed is a breakthrough for animal nutrition and health," says Craig Livingston of DGI Feeds. "It's rich in natural enzymes, highly digestible, and very nutritious for horses, and I know that HydroGreen's technology is in a league of its own."
"The innovative producers in our pipeline have been watching our progress with animal research for years and based on the findings they're now confident in the many ways HydroGreen's sprouted-grain feed can improve rumen function and their businesses," says Dennis Dynneson, HydroGreen's Head of Sales.
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