Total
0
Shares
Mary Agrotech - CEO, Frank Qin (left).
CEO, Frank Qin (left).
Source: Mary Agrotech.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Mary Agrotech (MARY) has entered a strategic partnership with Changzhi Yufeng Agricultural Technology Development
  • The parties will collaborate on a 700 square meter pilot project using Mary’s proprietary vertical farming hardware and AI-driven automation software
  • According to official data, 16.1 per cent of China’s soil and 19.4 per cent of its arable land is contaminated, causing the demand for quality food to grow at an exponential rate
  • Mary Agrotechnologies develops, manufactures and markets automated growing systems integrated with data-driven artificial intelligence
  • Mary Agrotech (MARY) is unchanged trading at $0.38 per share

Mary Agrotech (MARY) has entered a strategic partnership with Changzhi Yufeng Agricultural Technology Development.

Based in Shanxi, China, Yufeng owns and operates one of China’s largest vertical farms, which is commonly referred to as The Plant Factory.

The parties will collaborate on a 700 square meter pilot project using Mary’s proprietary vertical farming hardware and AI-driven automation software.

According to official data, 16.1 per cent of China’s soil and 19.4 per cent of its arable land is contaminated, an area larger than the U.K., France and Spain combined. As China’s middle class reached 700 million in 2020 and is expected to add another 350 million by 2030, demand for quality food has been increasing at an exponential rate.

Frank Qin, Mary Agrotech’s CEO, stated,

“The farm is in a great location as over 600 million people reside within its 500-mile radius. As only about 12 per cent of China’s landmass is arable, food security is a key focus for the country and this pilot is proof that our technology has its unique advantages to be a part of that massive market. It’s a foot in the door.

Now that Yufeng – one of China’s leaders in vertical farming and controlled-environment agriculture – is adopting our technology, we are already fielding additional opportunities.”

Mary Agrotechnologies develops, manufactures and markets automated growing systems integrated with data-driven artificial intelligence.

Mary Agrotech (MARY) is unchanged trading at $0.38 per share as of 11:57 am ET.

More From The Market Herald
The Market Herald Video

" Railtown AI Technologies (CSE:RAIL) announces CSE listing

Railtown AI Technologies (RAIL)  has completed its prospectus offering and listing on the Canadian Stock Exchange.

" DGTL Holdings (TSXV:DGTL) updates concurrent financing in Engagement Labs acquisition

DGTL Holdings (DGTL) has agreed to amend some of the conditions of its agreement with Engagement Labs.
Plurilock - CEO, Ian Paterson.

" Plurilock (TSXV:PLUR) announces fall 2021 product release

Plurilock Security (PLUR) has announced the availability of its fall 2021 product release.

" Siyata Mobile (NASDAQ:SYTA) launches VK7 vehicle accessory designed for use with the SD7 handset

Siyata Mobile (SYTA) has launched a new vehicle kit accessory that provides a unique solution for push-to-talk communication.