Urban-Gro Inc.
Urban-GRO Announces New Cannabis Sector Contracts Worth $12M
Summary
Urban-GRO, Inc. announced on June 26, 2024, that it has signed multiple new contracts in the cannabis sector, with an anticipated aggregate value of approximately $12 million. The contracts encompass architecture and design, engineering, equipment procurement, and construction management for cultivation and retail dispensary projects. The company expects to recognize the majority of this revenue by the end of the third quarter of 2024. The contracts reflect Urban-GRO's positioning in the recovering cannabis market, driven by positive developments such as the potential rescheduling of cannabis and the upcoming vote on adult-use cannabis in Florida.
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About Urban-Gro Inc.
Urban-Gro Inc. is a design, engineering, and cultivation systems integration company catering primarily to the indoor agriculture space. The company provides comprehensive solutions that include architectural design, engineering, equipment integration, and cultivation systems to indoor commercial cannabis and food cultivation facilities. Urban-Gro Inc. enhances the efficiency and success of cultivation operations by delivering integrated systems tailored to the unique needs of each client. This encompasses environmental controls, fertigation stations, light deprivation systems, and LED lighting solutions. By serving the rapidly growing indoor cultivation market, the company bridges the gap between operational needs and technological advancements, playing a vital role in enhancing resource efficiency and sustainability in agriculture. As urban farming and controlled environment agriculture become increasingly prominent, Urban-Gro plays a significant role in meeting the demands of these evolving sectors.
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