Agrify has signed a definitive agreement for its largest Agrify Total Turn-Key Solution partnership to date with Gold Leaf Florida LLC, a licensed medical marijuana treatment center based in Myakka City, Fla.
The company said the agreement, which is the first for Agrify in the Florida cannabis market, is expected to generate more than $140 million in revenue over the first three years of cultivation and more than $400 million of estimated total revenue over the full 10-year term of the partnership.
Gold Leaf is one of 22 licensed centers and one of 16 active operators in Florida, and the organization is planning to open 20 dispensaries in the state by 2024.
Under the terms of the agreement, Agrify will be installing 1,510 vertical farming units at Gold Leaf's 200,000-square-foot facility, with 100,000 square feet dedicated to VFU cultivation. Gold Leaf plans to build four additional 200,000-square-foot facilities in Florida, for a total of one million square feet, and Agrify hopes to support Gold Leaf through all of this anticipated future growth with the installation of several thousand more VFUs.
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