urban-gro, Inc. Secures $20 Million Design-Build Contract to Revolutionize the Cannabis Industry
LAFAYETTE, Colo. Jan. 02, 2024 - urban-gro, Inc. (Nasdaq: UGRO), a leading integrated professional services consulting firm, has exciting news that will undoubtedly make waves in the rapidly evolving cannabis industry. The Company recently announced the successful acquisition of a groundbreaking design-build contract with a prominent U.S.-based multi-state cannabis cultivation and retail dispensary operator. This partnership is set to revolutionize the industry by implementing cutting-edge cultivation techniques and maximizing operational efficiency.
Under the auspices of this landmark agreement, urban-gro will employ its extensive industry expertise to design and construct a state-of-the-art cultivation facility. Simultaneously, the Company will retrofit the interior of an existing facility to accommodate the ever-increasing demand for premium cannabis products.
With a contract value of an impressive $20 million, urban-gro is poised to deliver comprehensive solutions that cater to the unique needs of this forward-thinking client. Recognizing the tremendous growth potential within the cannabis market, urban-gro is committed to providing superior services that foster innovation and elevate cultivation practices.
Over the course of the next six quarters, urban-gro anticipates significant revenue recognition as it collaborates with industry-leading experts to enhance every aspect of the cultivation process. By leveraging its extensive network of professionals, urban-gro is well-equipped to execute a comprehensive design and construction plan that streamlines and optimizes operations.
Embracing sustainability and environmental responsibility, urban-gro aims to create an energy-efficient and environmentally friendly cultivation facility. By implementing advanced technologies and cultivating practices, the Company aims to reduce the environmental impact of cultivation while maximizing overall productivity.
This groundbreaking partnership with a prominent multi-state operator marks a pivotal moment for urban-gro and exemplifies the Company’s commitment to fostering growth within the cannabis industry. As the cannabis market continues to evolve, urban-gro’s innovative solutions and services are poised to set new industry standards and shape the future of cannabis cultivation and retailing.
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