Urban-Gro Inc.
urban-gro, Inc. Announces New Cannabis Sector Contracts and Loan Agreement
Summary
urban-gro, Inc. has signed multiple new contracts in the cannabis sector, with aggregate expected contract revenue of approximately $12 million. These contracts include equipment procurement and engineering, architecture, and design services for cultivation, extraction, and retail dispensary projects. The majority of the revenue is expected to be recognized by the end of the first quarter of 2025. Additionally, the company has entered into a term loan agreement with Grow Hill, LLC, for a secured loan of $2,100,000, to support the company's growth in the cannabis industry.
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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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