Agrify today announced a definitive agreement with Ora Pharm to supply the Waikato, New Zealand-based company a full suite of end-to-end hardware and software products to be used at a 5,000-square-foot facility in Auckland, New Zealand. The deal has a base value of $1.6 million.
Ora Pharm is a licensed cultivator and distributor of medicinal cannabis. The company has agreed to purchase 20 Agrify vertical farming units (VFUs) that will be used to grow cannabis. Ora Pharm will also bring in a C1D1 Extraction Pod, a C-15 Centrifuge Extraction System and the CannaBeast 13 Thin Film Distillation System.
Agrify will provide access to Agrify Insights, its seed-to-sale automation software, for five years in exchange for monthly recurring SaaS fees.
The package will form an ecosystem that will give Ora Pharm precise control over the full life cycle of its botanicals from new plants to finished products and should enable Ora Pharm to achieve new operational efficiencies and better overall results.
With the rapid emergence and expansion of cannabis markets around the world, the global cannabis industry is on track to reach $35 billion this year and is projected to surpass $61 billion by 2026, according to BDSA.
Located in the Asia-Pacific region, Ora Pharm is well positioned to serve a variety of attractive markets with high-quality cannabis products. The company currently has an Australian market presence and contracts to strategically expand into the United States, Europe, Asia and New Zealand.
Ora Pharm recently received a coveted grant from Callaghan Innovation to research cannabis cultivation inputs in New Zealand. By employing Agrify’s solutions, Ora Pharm will gain new operational insight and data visibility to verify active ingredient levels. The partnership with Agrify also supports the continuation of Ora Pharm’s broader mission to consistently deliver high-quality cannabis and manufactured finished products of major and minor cannabinoids.