Freshbay, Inc. (Freshbay), a leading agriculture company specializing in sustainable indoor farming, is thrilled to announce the signing of a definitive agreement with Affinor Growers Inc. (Affinor) (CSE: AFI; OTCQB: RSSFF), a renowned developer of vertical farming technologies. This exciting partnership marks a significant milestone in Freshbay’s mission to revolutionize sustainable agriculture and meet the growing demand for locally sourced produce.
As part of the agreement, Freshbay will construct a state-of-the-art geothermal agricultural site near Hinton, Alberta, spanning approximately 864,000 square feet of greenhouse facilities. Leveraging Affinor’s cutting-edge technologies, Freshbay will focus on the cultivation and commercialization of its premium Affrinoira Fragaria strawberries, renowned for their exceptional taste and quality.
Affinoria Fragaria strawberries cultivated in vertical farming system (source: Affinor Growers)
Under the Definitive Agreement, Affinor will provide Freshbay with the necessary products and services to support strawberry production at the project site, including the installation of 17,530 vertical hydroponic towers, 34 polycarbonate Atlantis greenhouses, and an automated irrigation and fertilization system. Additionally, Affinor has facilitated the introduction between Freshbay and Berrymobile Fruit Distribution Inc., ensuring offtake for the strawberries grown on-site.
Freshbay is committed to advancing sustainable indoor farming practices, and this strategic partnership with Affinor will propel our mission forward. By harnessing geothermal energy and innovative technologies, we aim to deliver fresh, healthy, and locally sourced produce to consumers while minimizing our environmental footprint.
“As Freshbay embarks on this pre-launch project in its infancy, we are excited to partner with Affinor Growers,” said Vic Reddy, CEO of Freshbay. “Together, we will create a groundbreaking geothermal agricultural site that revolutionizes the way strawberries are cultivated, setting a new standard for sustainability and quality in the industry.”
The successful execution of this Definitive Agreement is contingent upon Freshbay securing adequate financing and the agreement on a work schedule for the project. Upon satisfaction of these conditions, Freshbay will make an aggregate payment of CAD$135,757,350 to Affinor.
Freshbay and Affinor are eager to embark on this transformative journey, driving innovation in the agriculture sector while seeking financing and commencing engineering for the new facility. The partnership represents a significant step forward in bringing sustainable indoor farming to the forefront and meeting the growing demand for fresh, locally grown strawberries.
For more information, please contact:
Vic Reddy, CEO, Freshbay, Inc.
Phone: 800.430.4610
Email: info@freshbay.ca
Website: www.freshbay.ca
About Freshbay
Freshbay is a pioneering agriculture company dedicated to revolutionizing sustainable indoor farming. Leveraging geothermal energy and innovative technologies, Freshbay cultivates premium Affrinoira Fragaria strawberries, providing consumers with fresh, healthy, and locally sourced produce while promoting environmental sustainability.
About Affinor Growers Inc.
Affinor Growers Inc. is a publicly traded company listed on the CSE under the symbol “AFI” and on the OTCQB under the symbol “RSSFF.” Affinor focuses on developing vertical farming technologies and using them to grow fruits and vegetables in a sustainable manner.