Sprout AI(CSE: SPRT), a technologically focused, sustainable vertical farming company that has developed scalable controlled aeroponic cultivation habitats, has processed an initial purchase order from TheraCann International Benchmark Corporation. The order was for 140 units and represents an estimated $2.1 million gross revenue, or net revenue of approximately $210,000. According to the announcement, the project could reach a total of 660 units delivered over the next 12 months, which could result in a total gross revenue $9.9 million for the company. The order was a result of a September 2020 distribution agreement between Sprout and Theracann. According to that agreement, TheraCann was appointed nonexclusive distributor for the purpose of marketing, selling and providing training and support for Sprout’s proprietary habitat units. “This initial order represents a key milestone for the company in commercializing its vertical farming technology,” said Sprout AI CEO Chris Bolton. “We are excited, as this order is the first step in establishing Sprout AI as a leading global provider of sustainable vertical farming solutions. In addition, the possible associated follow-on order provides the Company with significant shareholder value potential.”
To view the full press release, visit https://ibn.fm/dUkUv
About Sprout AI Inc.
Sprout AI is a vertical farming technology company in the business of planning, designing, manufacturing and/or assembling scalable AI-controlled vertical cultivation equipment for indoor vertical farming. The adaptive technology produces an environment with improved growing parameters and early detection of adverse conditions, resulting in consistent and repeatable crops with shorter cultivation cycles, independent of geographic climates. The self-contained multilevel rolling rack technology increases the cubic cultivation area while mitigating the risk of outside and cross-contaminants. For more information about the company, visit www.SproutAI.solutions.
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