9th August 2022

Korean Consortium Awarded First Smart Farm Project in Oman

The project includes two 40ft containers, designed and manufactured in Korea, to be installed in Oman. A Korean smart farm consortium, comprising POMIT Company and Nongshim Company, has been awarded a pilot project becoming the first partner of the Oman government’s smart farm initiative as the country seeks to further develop such technology to decrease […]

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Corporate Finance Stock Market

Hydrofarm Announces Preliminary Q2 2022 Results

Hydrofarm Holdings Group, Inc. (Nasdaq: HYFM) announced preliminary unaudited financial results for its second quarter ended June 30, 2022. Bill Toler, Chairman and CEO, stated in the company’s press release, “We took positive steps during the second quarter to lower our cost structure and maintained a solid liquidity position; however, the hydroponics industry recession in […]

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Corporate Partnerships

Saudi Tamimi Markets Forms a JV With Mitsui & Zero SRL

Saudi supermarket chain Tamimi Markets formed a joint venture with Japan’s Mitsui & Co. and Italian agricultural technology provider Zero SRL to develop the Kingdom’s first smart farms as per a recent report from Arab News. Recently, the Ministry of Environment, Water & Agriculture of Saudi Arabia has set aside SR100 million (USD 27 million) […]

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Markets Stock Market

GrowGeneration Reports Second Quarter 2022 Financial Results

GrowGeneration Corp. (NASDAQ: GRWG) reported financial results for the second quarter ended June 30, 2022. Second Quarter 2022 Highlights Compared to Prior-Year Period Net sales declined 44% to $71.1 million driven by softer industry demand Comparable store sales for the quarter decreased 56.9% Net loss of $136.4 million inclusive of $127.8 million impairment expense for […]

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Corporate Funding Round

IAG Group & University of Essex Secure Funding For New Facility

The major funding boost will be used to create a state-of-the-art indoor crop growth facility to explore how to future-proof crop production for an increasing global population Agricultural technology company, Innovation Agri-Tech Group (‘IAG‘), announced it is further cementing its relationship with the University of Essex, as the university receives a major funding boost from […]

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Controlled Environment Agriculture Corporate Partnerships

RMJ Supply Inks Distribution Agreement with DryGair

Leading solutions-focused distributor of horticultural equipment to distribute DryGair dehumidifiers designed for commercial greenhouses, grow and drying rooms RMJ Supply, announced in a press release that it has reached an agreement to distribute DryGair Energies Ltd., a world leader in dehumidifier equipment solutions. Through the agreement, RMJ now offers preferred access to DryGair’s line of […]

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Analysis Corporate Stock Market

ScottsMiracle-Gro Announce Sales Drop in Q3

Company-wide third quarter sales decreased 26% driven by Hawthorne decline of 63% and U.S. Consumer decline of 14% Consumer POS climbed in May & June; year-to-date POS dollars are down 5% Q3 GAAP EPS loss of $8.01 per share, includes pre-tax impairment and restructuring charges of $724 million; non-GAAP adjusted EPS of $1.98 ScottsMiracle-Gro announces […]

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Corporate Deals Mergers & Acquisitions

Sibannac Formulate LOI To Acquire SPUR Biotech

Sibannac, Inc. (OTC Pink: SNNC) officialized yesterday in a press release, an intent in acquiring SPUR Biotech, LLC, an Ohio-based developer of plant-based vaccines. Spur is already an existing marketing client of Sibannac’s Campus, its technology incubator. The Campus was created to attract clients with the aim of providing mentoring and manufacturing services and choosing a […]

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Analysis Stock Market

AppHarvest Q2 Beats GAAP EPS, Misses on Revenue

The company achieves net sales of $4.4 million on 6.0 million pounds of tomatoes sold in Q2 2022, a 39% YoY increase but misses by $1.74 million on estimates During AppHarvest Q2 secures $50 million USDA-backed loan, one of largest ever supporting controlled environment agriculture (CEA) The company confirms no damage to facilities from recent […]

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Corporate Environment Stock Market

Kalera Releases 2021 ESG Report

The indoor vertical farming company releases sustainability and safety achievements during 2021 in addition to carbon neutrality goals. Kalera, today released its most recent Environmental, Social and Governance (ESG) Report, highlighting the company’s sustainability framework, past year achievements, and its vision for 2030. “Kalera’s first-ever ESG Report illustrates our foundation rooted in sustainability and equity,” […]

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