LBBB - Nature's Miracle and Growterra enter into Master Supply Agreement for advance technology Container Farms | Benzinga
NEWPORT BEACH, Calif. , Sept. 28, 2023 /PRNewswire/ -- Nature's Miracle Holdings Inc. ("Nature's Miracle"), a rising technology company in the controlled environmental agriculture industry, is pleased to announce it has entered into a Master Supply Agreement with Growterra, LLC ("Growterra"), a provider of equipment, software, and operational systems for locally owned growers. Nature's Miracle will work cooperatively under a master supply arrangement to supply certain hydroponic agriculture hardware and software solutions, including, but not limited to, LED lighting, nutrient delivery systems, control systems, climate control systems, all-in-one container plant systems as well as certain services.
As the exclusive provider to Growterra, Nature's Miracle will collaborate alongside Growterra throughout the entire process - from manufacturing to field deployment - to enhance and improve a line of containerized growing units. Housed within re-purposed shipping containers, the modularized and self-contained farming units will incorporate LED grow lights, hydroponic systems and sensors that monitor and optimize environmental conditions, such as temperature, humidity, and nutrient levels, to increase production yields beyond results attainable through traditional farming. Each unit will leverage equipment and business software to assist Growterra's network of growers from the point of planting through the delivery of produce to their retail and wholesale clientele.
Management Comments
"We have been expanding our relationships with various specialists in controlled environmental agriculture and are excited to work with Growterra who believes in the superior technology we are able to provide with our containerized farm solutions." said Tie "James" Li, Founder, Chairman and Chief Executive Officer of Nature's Miracle. "We both share a vision of increasing food security that is both eco-friendly and a sustainable alternative to traditional farming methods."
"With Nature's Miracle we have a partner that is committed to designing and building advanced CEA products that will enable our growers and operators to better develop and manage their locally owned operations", said Lee Midkiff, CEO and co-founder of Growterra. "We are excited to work together to build upon our mission of bringing these tools to our network of decentralized, local operators."
About Nature's Miracle Holdings Inc.
Nature's Miracle (www.Nature-Miracle.com) is a growing agriculture technology company providing services to growers in the Controlled Environment Agriculture ("CEA") industry which also includes vertical farming in North America. Nature's Miracle offers hardware to design, build and operate various indoor growing settings including greenhouse and indoor-growing spaces. Nature's Miracle, through its two wholly-owned subsidiaries (Visiontech Group, Inc. and Hydroman, Inc.), provides grow lights as well as other hydroponic products to hundreds of indoor growers in North America. Nature's Miracle has also developed a robust pipeline to build commercial-scale greenhouses in the U.S. and Canada to meet the growing needs of fresh and local vegetable products. Nature's Miracle has established its first manufacturing footprint in North America with its grow-light assembly plant in Manitoba, Canada and is expected to set up additional manufacturing/assembly facilities in North America.
Nature's Miracle Inc. and Lakeshore Acquisition II Corp. (together with its successors, "Lakeshore") (NASDAQ:LBBB) previously announced that they entered into a definitive business combination agreement (the "Merger Agreement"). Upon closing, the combined company is expected to change its name to Nature's Miracle Holding Inc. and its common stock is expected to be traded on the Nasdaq Global Market.
About Growterra, LLC
Committed to providing entrepreneurs with a turn-key solution that brings controlled environmental agriculture to hyperlocal markets, Growterra is building the first turn-key, end-to-end CEA solution that provides local operators with an all-in-one equipment, operations, and business platform for growing leafy greens, microgreens, and herbs. Growterra is committed to empowering locally grown produce through best-in-class equipment and software, while simultaneously providing owner-operators with a business framework for ...