BILLERICA, Mass., June 02, 2023 — Agrify Corporation (Nasdaq:AGFY) (“Agrify” or the “Company”), a leading provider of innovative cultivation and extraction solutions for the cannabis industry, announced the release of its new Diamond Miner product under solvent extraction brand Precision Extraction Solutions. The Diamond Miner is designed to deliver a safe, reliable, and consistent solution for THC-A crystallization of cannabis, enabling the creation of premium concentrates.
Precision Extraction Solutions, which Agrify acquired in October 2021, is a leading provider of comprehensive, solvent-based extraction and post-processing solutions. With the release of the Diamond Miner, Precision can provide customers with a full suite of equipment for taking cannabis from biomass to concentrates.
The Diamond Miner has an optimal capacity of 1.3 liters and eliminates the need for mason jars for added safety and consistency. Featuring a liquid jacketed vessel for consistent temperature control and repeatable results, the Diamond Miner maintains a consistent internal environment to tightly control the variation in temperature and pressure internally.
Safety and compliance are top of mind for Precision. The Diamond Miner is provided with a Technical Report certification through an Engineer Peer Review from Pressure Safety Inspectors (PSI) that satisfies the Fire Code (IFC and NFPA) for all 50 states and the District of Columbia. Additionally, high-pressure clamps withstand a pressure rating up to 350 PSI. Built with premium 304 grade stainless steel and designed with 2″ sight glass for easy process inspection, the Precision Diamond Miner is built for production.
“Creating consistent products reliably and safely is key for our customers,” said Brian Towns, Executive Vice President and General Manager Extraction Division at Agrify. “Our engineers design to high standards, focusing on customer pain points so that operators can focus on what they do best: creating strong products. With the release of the Precision Diamond Miner, we continue to build out our ecosystem of modular products, to help our customers enhance their production capabilities and support their success.”
About Agrify (Nasdaq:AGFY)
Agrify is a leading provider of innovative cultivation and extraction solutions for the cannabis industry, bringing data, science, and technology to the forefront of the market. Our proprietary micro-environment-controlled Vertical Farming Units (VFUs) enable cultivators to produce high quality products with unmatched consistency, yield, and ROI at scale. Our comprehensive extraction product line, which includes hydrocarbon, ethanol, solventless, post-processing, and lab equipment, empowers producers to maximize the quantity and quality of extract required for premium concentrates. For more information, please visit Agrify at http://www.agrify.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning Agrify and other matters. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements including, without limitation, statements regarding the expected performance and benefits of the Diamond Miner product, and Agrify’s ability to deliver solutions and services, including the development of new solutions. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. Agrify has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. You should carefully consider the risks and uncertainties that affect our business, including those described in our filings with the Securities and Exchange Commission (“SEC”), including under the caption “Risk Factors” in our Annual Report on Form 10-K filed for the year ended December 31, 2021 with the SEC, which can be obtained on the SEC website at www.sec.gov. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and filings with the SEC.
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