urban-gro, Inc. Signs Memorandum of Understanding for the Turn-key Design Build of a 100,000 Square Foot Cultivation Facility in New York with E29 Labs, a Minority-owned Business
LAFAYETTE, Colo., May 31, 2022 (GLOBE NEWSWIRE) -- urban-gro, Inc. (Nasdaq: UGRO) (“urban-gro” or the “Company”), a fully integrated architectural design, engineering, procurement, and construction management (“EPC”) design-build firm specializing in horticulture, and more specifically, value-added indoor Controlled Environment Agriculture (“CEA”), today announced that it has signed an agreement with E29 Labs, Inc., (“E29 Labs”) a black, woman-owned commercial cannabis production company, to provide full architecture, engineering and design services for their application to build an approximately 100,000 square foot cannabis production facility located in New York State. Upon securing a license, the agreement provides that urban-gro will be E29 Labs’ design-build partner to complete the build out of its facility.
Shelley Roberts, CEO of E29 Labs, commented, “We are looking forward to working with urban-gro to access their deep experience and expertise in indoor CEA as we plan for our high-performance facility. We’re excited to leverage urban-gro’s turn-key design-build capabilities as we revitalize a dormant industrial site into a productive, vibrant development that integrates with the existing fabric of the historic Village of Canajoharie. As a socially conscious business, our goal is to be a force for improving lives and fostering sustainable community renewal through economic opportunity.”
Bradley Nattrass, Chairman and CEO, added, “We are excited to work with E29 Labs and immediately start the turn-key architecture, engineering, and cultivation design process of its new indoor CEA facility, including the retro-fit of the entire industrial complex. Utilizing the capabilities from our newly acquired construction management firm, once they successfully attain their license, we will execute on the full build out, equipment integration, and commissioning of the facility. urban-gro is uniquely able to bring a complete set of in-house capabilities to this dynamic project and moreover, we are proud to support New York’s social equity oriented commercial cannabis growth in the process.”
About E29 Labs, Inc.
E29 Labs, co-founded by Shelley Roberts, Sheldon Roberts and cannabis-business veteran Michael Dundas, is well positioned to be a market leader in New York’s new commercial cannabis cultivation and processing industry, bringing years of knowledge, best practices, and commercial success to this operation. As a black, woman-owned business, E29 Labs is excited to participate as one of the few such businesses on the supply side of the industry. In April 2021, following New York State’s passage of the Marijuana Regulation and Taxation Act (MRTA), E29 Labs secured a 19-acre site on the grounds of the former Beech Nut manufacturing plant located at Exit 29 off the New York State Thruway, after which the company is named. The project, which has strong support from village and county leaders, will revitalize the site and bring economic development and high-paying employment opportunities back to Canajoharie.
About urban-gro, Inc.
urban-gro, Inc.® (Nasdaq: UGRO) is a fully integrated architectural design, engineering, procurement, and construction management (“EPC”) design-build firm specializing in indoor horticulture, and more specifically, value-added indoor Controlled Environment Agriculture (“CEA”). With experience in over 500 hundred CEA projects spanning millions of square feet across the globe, we design, engineer and integrate complex environmental equipment systems into high-performance facilities. urban-gro’s gro-care® Managed Services Platform leverages the Company’s expertise to reduce downtime, provide continuity, and drive cultivation facility optimization. Operating as a full-service, a la carte and complete turn-key, design-build solutions provider in crop-agnostic indoor CEA and commercial market sectors, our end-to-end approach provides a single point of responsibility across all aspects of operations. Visit urban-gro.com to learn more.
Dan Droller - urban-gro, Inc.
EVP Corporate Development & Investor Relations
Jeff Sonnek – ICR, Inc.
Mark Sinclair – MATTIO Communications
Released May 31, 2022