Agrify Releases the First Engineer Peer-Reviewed Hydrocarbon Distillation Unit Under Solvent Extraction Brand Precision Extraction Solutions
06 Junho 2023 - 8:00AM
Agrify Corporation (Nasdaq:AGFY) (“Agrify” or the “Company”), a
leading provider of innovative cultivation and extraction solutions
for the cannabis industry, today announced the release of a
Hydrocarbon Distillation Unit (“HDU”) under solvent extraction
brand Precision Extraction Solutions. Agrify believes that the
Precision HDU is an industry-first solution designed to
continuously distill the source hydrocarbon solvent to increase
operational efficiency.
Precision Extraction Solutions, which Agrify acquired in October
2021, is a leading provider of comprehensive, solvent-based
extraction and post-processing solutions. The HDU distills
hydrocarbon solvent prior to running it through a hydrocarbon
extractor for reduced contamination and continuous operation. It
can be operated as a standalone unit or integrated into existing
systems.
The HDU is positioned between the source solvent tank and the
extractor. The hydrocarbon solvent travels from the source solvent
tank through the HDU, where it is distilled, and then into the
extractor. By distilling the solvent in a contained, external HDU,
contamination of the extractor is avoided.
With an external HDU, operators can continuously refill the
hydrocarbon solvent tank during soak time, and continuously distill
solvent, reducing the need for solvent-only cleaning cycles and
interruptions to the extraction process. In tests with the HDU and
Precision’s PX5 extractor, an additional 1-5 extraction cycles per
day could be run when utilizing the HDU, equating to increased
efficiency, productivity, and ROI.
“With this first of its kind Hydrocarbon Distillation Unit,
Precision continues to evolve the science of extraction equipment
and technology,” said Brian Towns, Executive Vice President and
General Manager Extraction Division at Agrify. “Paired with our
extensive hydrocarbon extraction equipment options, we can offer
operators of any size efficient, compliant, and cutting-edge end to
end extraction solutions that will help them reach their production
goals and scale their businesses.”
“And while we are proud to bring this cutting-edge product to
market, our quality and care goes beyond high quality equipment,
encompassing the service support, training, and expert advice that
truly sets Precision apart.”
Precision’s HDU is compatible with both new and legacy
hydrocarbon processing equipment including Precisions’ PX1, X10,
X40, PX5, PX10, and PX30, and several other hydrocarbon extractors
in the industry.
About Agrify (Nasdaq:AGFY)
Agrify is a leading provider of innovative cultivation and
extraction solutions for the cannabis industry, bringing data,
science, and technology to the forefront of the market. Our
proprietary micro-environment-controlled Vertical Farming Units
(VFUs) enable cultivators to produce high quality products with
unmatched consistency, yield, and ROI at scale. Our comprehensive
extraction product line, which includes hydrocarbon, ethanol,
solventless, post-processing, and lab equipment, empowers producers
to maximize the quantity and quality of extract required for
premium concentrates. For more information, please visit Agrify at
http://www.agrify.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
concerning Agrify and other matters. All statements contained in
this press release that do not relate to matters of historical fact
should be considered forward-looking statements including, without
limitation, statements regarding the potential operational benefits
of the Precision HDU product and Agrify’s ability to deliver
solutions and services, including the development of new solutions.
In some cases, you can identify forward-looking statements by terms
such as "may," "will," "should," "expects," "plans," "anticipates,"
"could," "intends," "targets," "projects," "contemplates,"
"believes," "estimates," "predicts," "potential" or "continue" or
the negative of these terms or other similar expressions. The
forward-looking statements in this press release are only
predictions. Agrify has based these forward-looking statements
largely on its current expectations and projections about future
events and financial trends that it believes may affect its
business, financial condition and results of operations.
Forward-looking statements involve known and unknown risks,
uncertainties and other important factors that may cause our actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. You should carefully
consider the risks and uncertainties that affect our business,
including those described in our filings with the Securities and
Exchange Commission (“SEC”), including under the caption “Risk
Factors” in our Annual Report on Form 10-K filed for the year ended
December 31, 2021 with the SEC, which can be obtained on the SEC
website at www.sec.gov. These forward-looking statements speak only
as of the date of this communication. Except as required by
applicable law, we do not plan to publicly update or revise any
forward-looking statements, whether as a result of any new
information, future events or otherwise. You are advised, however,
to consult any further disclosures we make on related subjects in
our public announcements and filings with the SEC.
Company Contacts
Investor Relations Inquiries
Caitlin BrickerChief of
Staffcaitlin.bricker@agrify.com(617) 733-0584
Media Inquiries
Rachel SoulsbyVice President of Marketing
rachel.soulsby@agrify.com(978) 660-9125
Source: Agrify
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