AgriFORCE has signed a contract with Humboldt Bliss, an agriculture and aquaculture company in Barbados. Through this contract, AgriFORCE's foundational IP, which includes a proprietary facility design, production and operation technologies and methods, and an automated growing system will be used for the cultivation of medical and agricultural products in the Caribbean.
Under the terms of the contract, AgriFORCE is responsible for constructing its proprietary facility and providing the full Standard Operating Procedures (SOPs) of the AgriFORCE Grow House, and Humboldt is responsible for securing the project’s land as well as operating the facility.
AgriFORCE CEO Ingo Mueller stated: “Finalizing this agreement is exciting, and we are looking forward to deploying our Grow House facility in Barbados. We believe that this facility may generate over $12 million of EBITDA per year based on current contracts with the potential to further expand production based upon up to a further 50% of available installed capacity.”
He continued: “Like many Caribbean countries, Barbados has a challenging tropical climate and unique soil conditions that make some areas of agriculture such as high value medical and agricultural products a real hurdle to overcome. Our proprietary facility design and automated growing system and methods address these issues and provide the ability to grow a range of crops that would be too difficult to grow otherwise.”
For more information:
AgriFORCE
www.agriforceegs.com