– Signing of commercial representation agreements with two companies in the Netherlands and France, represents a key milestone in urban-gro’s robust European expansion strategy
– Working closely with manufacturing partner to develop and certify purpose-built complex environmental mechanical systems specified for European market
LAFAYETTE, Colo., March 24, 2021 (GLOBE NEWSWIRE) -- urban-gro, Inc. (NASDAQ: UGRO) (“urban-gro” or the “Company”), a leading global horticulture company that engineers and designs commercial Controlled Environment Agriculture (“CEA”) facilities and integrates complex environmental equipment systems, today announced it has signed agreements with two European companies, one in France and one in the Netherlands, experiencing quick inertia with opportunities throughout the European market. These representation agreements are the Company’s first outside of the US. Additionally, the Company is readying final development with a strategic vendor partner of a complex environmental mechanical system that is specifically designed for the European market.
While continuing its work on existing projects the Company signed in 2020, the Company is committed to advancing its presence and strategic reach across Europe. The Company plans to leverage its partnerships and existing U.S. based engineering expertise and overhead to meet the increased demand for sustainable integrated CEA facilities and the cannabis industry expansion across Europe. “The European market represents a tremendous growth opportunity for the Company. With the rapidly growing demand for CEA solutions, we believe urban-gro is well-positioned to bring our acquired expertise in engineering, design and custom equipment system integration to this emerging market. These agent engagements represent the first key steps as we build our team and ultimately open our European office as soon as global conditions permit,” commented Bradley Nattrass, Chief Executive Officer and Chairman of urban-gro.
In addition, the Company is pleased to be working with a key manufacturing partner to develop and secure all certifications for a mechanical system purpose-built to address the gap of complex environmental systems for indoor CEA facilities within Europe.
About urban-gro, Inc.
urban-gro, Inc. (NASDAQ: UGRO) is a leading engineering design and services company focused on the commercial horticulture market. We engineer and design commercial Controlled Environment Agriculture (“CEA”) facilities and then integrate complex environmental equipment systems into these high-performance facilities. Operating in the global market, our custom-tailored approach to design, procurement, and equipment integration provides a single point of accountability across all aspects of growing operations. Visit urban-gro.com to learn more.
Safe Harbor Statement
This press release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this release, terms such as “believes,” “estimates,” “should,” “could,” “would,” “plans,” “expects,” “intends,” “anticipates,” “may,” “forecasts,” “projects” and similar expressions and variations as they relate to the Company or its management are intended to identify forward-looking statements. Such forward-looking statements are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the demand for our services and products, our ability to manage the adverse effect brought on by the COVID-19 pandemic, our ability to execute on our strategic plans, our ability to achieve positive cash flows or profitability, our ability to achieve and maintain cost savings, the sufficiency of our liquidity and capital resources, and our ability to achieve our key initiatives for 2020. A more detailed description of these and certain other factors that could affect actual results is included in the Company’s filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date hereof, except as may be required by law.
urban-gro Investor Relations Contact:
Jenene Thomas
Chief Executive Officer
JTC Team, LLC
T: 833.475.8247
investors@urban-gro.com