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CubicFarms Announces Expansion of Regional Feed Hub Network to Visalia, California
Thursday, December 7, 2023Company Profile | Follow Company
Langley, BC, December 7, 2023--(T-Net)--CubicFarm Systems (TSX:CUB), a leading local chain agricultural technology company, announced that its ruminant livestock feed subsidiary company, HydroGreen Inc., has identified Visalia, California as its second location for HydroGreen's California Regional Feed Hubs.
HydroGreen says it is commited to providing sustainable and efficient feed solutions to the dairy and beef industries.
The new Visalia location is in addition to the previously announced facility in Riverdale, California located 40 miles east of Riverdale Feed Hub.
The initial phase of this facility is a twin building, housing 20 HydroGreen GLS 808 machines with a daily capacity of 64 tons of feed and over 23,000 tons annually, with the feed priced competitively at $150 per ton. Phase I of the Visalia Feed Hub is 100% sold out with full allocation to five large Visalia-based dairies. Additionally, Phase II, which also will produce 64 tons per day, is now 50% sold out.
This strategic expansion reflects HydroGreen's continued development of its new core strategy of developing a recurring revenue division by developing and building regional Feed hubs in California to provide sustainable and efficient feed solutions to the dairy industry. Furthermore, this initiative underscores HydroGreen's commitment to demonstrating the feasibility of its innovative Feed as a Service ("FaaS") business model while accelerating product adoption.
FaaS is an innovative agricultural approach where HydroGreen establishes regional feed hub facilities equipped with Automated Vertical Pastures™ and supplies sprouted-grain nutrition to local livestock feeding operations. By overseeing operations at these facilities, HydroGreen ensures optimal feed production, maintains stringent quality control, and enhances animal performance outcomes for producers.
John De Jonge, President, CubicFarm Systems Corp.
"It's a mutually beneficial solution—producers gain access to a consistent feed ingredient that optimizes herd digestion, and it establishes a recurring revenue stream for HydroGreen," said John de Jonge, CEO and President of HydroGreen. "This collaboration enables us to showcase the capabilities of our Automated Vertical Pastures™ and their positive impact on animal performance. We believe this project serves as a compelling testament to the effectiveness and sustainability of our solution, while opening doors to future partnerships within the agricultural industry."
This release may contain certain "forward-looking statements" or "forward-looking information" under applicable securities laws. Forward-looking terms such as "may," "will," "could," "should," "would," "plan," "potential," "intend," "anticipate," "project," "target," "believe," "plan," "outlook," "estimate," or "expect" and other words, terms and phrases of similar nature are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are based on certain key expectations and assumptions made by the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. [ MORE ] |
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