RYTHM as a company was built to give cannabis operators the tools they need to succeed.
PRODUCTS AND SERVICES:
Software & Technology
Agrify can help through Agrify Insights which has precision monitoring & controls, strain-specific grow plans via real-time analytics.
With EliteLab you have a Human_Machine interface for processing systems and it brings repeatability & consistency for processing applications as well as datalogging, recipe & program creation.
Cultivation
Agrify offers Vertical Farming Units which are highly efficient multi-tier cultivation units with precise microclimate control, they also offer continous UV-C air purification as well as aqueous ozone surface sanitization.
With Agrify’s vertical farming solution crop yield per sq ft vs traditional grows can be up to 6x with cannabinoid potency being up to 29% higher and up to 98% continous utilization of infrastructure achieved with their software!
Extraction & Separation
The systems offered by Agrify are the following: Alcohol centrifugal systems, hydrocarbon, solventless and post processing.
Filtration
Multi-stage filter options, cartridge-style options and filter presses.
Winterization
Commercial freezers as well as Glass or Steel Jacketed Reactors
Solvent Recovery
Rotary evaporators and reactor systems and Falling Film Evaporators.
Degassing/Decarboxylation
Forced air ovens and glass or steel jacketed reactors.
Formulation & Product Creation
Homogenizers, Mixers, Filling Systems.
Distillation
Complete batch systems with comprehensive parameter & process controls.
Single stage, 2-stage or 3-stage options, full automation options and modular wiped/thin film systems.
Enclosures, Utilities & Ancillaries
C1D1 & C1D2 Modular & Standlare Enclosures, ventilation enclosures & hoods, pneumatic & gear drive fluid handling, laboratory glassware & tools, temperature control units, vacuum pumps and analytical instruments for potency, terpenes, residual solvents, pesticides, heavy metals and more.
Services
Standard operating procedures, facility deisgn, installation, training, repairs & maintenance, research & development, certifications.
Consumables
Rosin bags, wash liners, gaskets, seals, fluids, oils, lubricants, spare parts & maintenance kits.
NEWS & PARTNERSHIPS:
2019
The company entered into a 60/40 joint venture with Valiant-America, with the company holding 60% with an option to acquire the remaining 40% within the next 2 to 5 years. The JV is designed to provide a complete turnkey solution from design, engineering and construction, to integrated, controlled grow solutions, world-class total farm management software and equipment financing.
2020
The company acquired Trigrow Systems and in turn, 75% of TriGrow Brands bolstering the company’s distribution and branding capabilities through the licensing of Western Cultured, Dawg Star, Waxtronaut and Twisted Legion.
2021
The company entered into a binding letter of intent with Atlantis Hydroponics for the buildout of a 2,500 sq ft research and development facility at Atlantis location in Georgia where Atlantis has a license to grow hemp in the state. The R&D facility is expected to focus on increasing concentrations of certain phytochemicals and metabolites through the manipulation and control over abiotic elements in the growing environment such as temperature and light spectrum. Other testing capabilities of the R&D facility will include mechanical component testing and improvements, new product development evaluation, remote customer simulation studies, and LED light mapping and evaluation. The facility will be comprised of Agrify’s Vertical Farming Units , Integrated Grow Racks , and Agrify Insights software platform.
The company received a 3,5 million purchase contract from WhiteCloud Botanicals for 132 more of Agrify’s Vertical Farming Units with 3 years of recurring SaaS revenue for use of the Agrify Insights software platform.
The company announced its first signed definitive agreement for its total turn-key solution customer partnership with up to 1,200 of Agrify’s Vertical Farming Units to be installed for Bud & Mary’s Cultivation. Agrify provides senior financing of up to $13.5 million for construction, which will be repaid within 24 months following the commencement of the first commercial production at the facility. Agrify will also receive fixed SaaS revenue derived from B&M’s use of the Agrify Insights cultivation software as well as additional production-based fees for up to 10 years, with the company anticipating that it could generate over $28 million per annum in revenue.
The company entered into a binding letter of intent with Hannah Industries including facility build-out services in total of 3 million USD and annual SaaS revenue of approximately 285,000 USD.
The company announced a partnership in California and Colorado with Front Range Biosciences for the development of unique cannabis and hemp cultivars. The partnership will see the installation of Agrify Vertical Farming Units at FRB’s indoor breeding facilities. The program will primarilly focus on the optimization of cannabis and hemp cultivation environments to drive the best performance from different genetic cultivars to achieve maximum yield, consistency and terpene output with minimum variance in cannabinoid levels.
The company announced a definitive agreement with Greenstone for the completion of its 25,000 sq ft expansion of Greenstone’s Denver facility. The company will provide 2,5 million USD in construction loans at an 18% APR to be repaid over a 24-month period following commencement of operations. The company will receive recurring fees over a 10-year period of up to $11 million to support the successful launch of Greenstone’s operations.
The company announced a 10-Year total turn-key solution partnership with Kief USA with 485 of Agrify’s Vertical Farming Units to be installedwith over $68.7 million in revenue expected over the first three years of cultivation. Included in the 10-year deal are architectural and engineering services, construction, recurring SaaS revenue, operations consulting and brand licensing. Agrify or its designated financing partner will provide senior financing of 80% of the construction cost at 16.5% APR, which will be repaid within 24 months following the commencement of the first commercial production at the facility. Kief USA will provide 20% of the total $24 million construction cost as well as 20% of all VFU hardware costs. The company expects the partnership to generate over $68.7 million in revenue for Agrify over the first three years of the deal once cultivation starts.
The company announced entry into the Arizona cannabis market through a partnership with Olive El Mirage through the build-out of its 30,000 sq ft facility as well as an installation of 400 of Agrify’s Vertical Farming Units and integrated catwalks, integrated grow racks and pest mitigation solutions. The value of the deal is expected to be around 23,8 million USD with the use of the Agrify Insights cultivation software over 10 years. Olive El Mirage will cover the cost of the construction and facility build-out and will have up to 90 days to determine whether to proceed with a cash purchase of the VFUs or finance this transaction.
The company acquired Precision Extraction Solutions and Cascade Sciences.
The company announced a partnership with True House Cannabis for the the build-out of its 22,000 sq ft facility with integrated catwalks, integrated grow racks, and pest mitigation solutions as well as the installation of 159 of Agrify’s Vertical Farming Units in a total turn-key solution agreement. The company expects the deal to generate up to $45.3 million in revenue over the 10-year contract period.
The company launched an immersive, project-based learning program called Agrify University with a 3,500 sq ft state-of-the art indoor vertical farming facility featuring Agrify’s latest technology and advanced cultivation methods.
The company launched an immersive, project-based learning program called Agrify University with a 3,500 sq ft state-of-the art indoor vertical farming facility featuring Agrify’s latest technology and advanced cultivation methods. All customers of the company can enroll in the classes.
The company entered into a 3-year, with an option to extend an additional 3 years, vertical farming research and development partnership with Curaleaf. The partnership will be focused on evaluating the impact of certain environmental conditions created and controlled by Agrify’s Vertical Farming Units and Agrify Insights software platform on harvest yields, plant terpene profiles, and flavonoid concentrations. It will also explore and analyze techniques to enhance the aesthetic appeal, aroma, and overall chemical profile of cannabis flower as well as study the effect of regulated environments on the overall health and longevity of cannabis plants, including research on the maturation of the chemical profile of the plants over their lifecycle.
The company expanded its relationship with Nevada Holistic Medicine through a contract including the build-out of its 12,400 sq ft state-of-the art facility, providing architectural, engineering, construction and horticultural consulting services,, the installation and lease of 140 Vertical Farming Units and 5 years use of the Agrify Insights software platform in exchange for at least $12 million of production-based and monthly SaaS fees.
The company announced a partnership with Confident Cannabis for the integration of its lab data with Agrify Insights, allowing for cannabis cultivators to augment and improve certain processes to optimize the chemical composition of plants while cultivating at scale.
The company announced the integration of Agrify Insights with Metrc, adding regulatory tracking and compliance functionality, approved for use in Massachusetts, Colorado, and Nevada with plans to roll out Agrify Insights with the Metrc integration in every state that it is certified for its use.
2022
The company acquired PurePressure.
The company entered the Florida market through a 10-year turnkey solution agreement with Gold Leaf for the installation of 1,510 of its Vertical Farming Units and architectural and engineering services, recurring SaaS revenue for use of the Agrify Insights cultivation software, operations consulting and brand licensing. Gold Leaf was also given the option to engage with Agrify for construction financing. The deal is expected to generate more than $140 million in revenue for Agrify over the first 3 years of cultivation and over $400 million of estimated total revenue over the full 10-year term of the partnership.
The company entered the New Zealand market through a sales and SaaS licensing agreement with Ora Pharm for 20 Vertical Farming Units as well as several cutting-edge extraction technologies including a C1D1 Extraction Pod, a C-15 Centrifuge Extraction System and the CannaBeast 13 thin film distillation system. The company will also provide access to Agrify Insights seed-to-sale automation software for 5 years in exchange for monthly recurring SaaS fees. The deal has a base value of 1,625 million USD.
The company signed a definitive agreement with Boone Labs to provide it with a broad range of cultivation and extraction solutions at its new production facility, allowing them to become the first customer to leverage Agrify’s full suite of offerings across cultivation, extraction and consumer brands. The deal is valued at 2 million USD where around 1,5 million USD will go towards 72 Vertical Farming Units and the rest towards a full range of extraction systems and consists of facility design services, industry-leading cultivation, extraction, distillation, isolation, and lab equipment, proven recipes and operating procedures for growing consistently high-quality flower and creating connoisseur-grade extracts, as well as the most advanced and intuitive automation and production-planning software.
The company received the Best Cultivation Technology Award at the Green Market Report’s Tech Summit.
The company inked its first multimillion international customer agreement for 190 of its Vertical Farming Units as well as access to the Agrify Insights cultivation software with BioCann Pharmaceutical in Portugal. The value of the equipment is 4 million USD and the 5-year SaaS agreement for Agrify Insights is valued at $2.1 million.
The company announced its first total turn-key agreement in New Jersey with Loud Wellness for 500 of its Vertical Farming Units and the use of its Agrify Insights for 10 years including architectural and engineering services, operations consulting and brand licensing. The engagement is expected to generate approximately $100 million in production success fees, based on a conservative 35 pounds annual dry-flower production per VFU, and approximately $18 million in SaaS software fees. The company may provide Loud Wellness up to an $18 million construction loan based on its standard TTK terms upon securing third-party financing.
The company signed an agreement with Greenlight Cannabis to provide premium grow solutions and related services for Greenlight’s cultivation facilities as well as the installation of its latest generation Vertical Farming Units in Greenlight’s state-of-the-art cultivation center of excellence. The agreement is expected to be expanded to include a full facility build-out for Greenlight’s cultivation operations in strategic current locations followed by future locations as Greenlight expands geographically and also includes horticulture and customer success training, ongoing technical and monitoring support, recurring SaaS revenue for use of the Agrify Insights cultivation software and operations consulting.
The company entered into rapid deployment program agreements with Prairie State Cannabis, LowKey, and MediFlora Cultivation for an expected base value of over 7.5 million USD in cultivation-related hardware sales and additionally include future recurring SaaS and production success fees. Agrify will initially be providing each customer with an RDP configuration consisting of 56 VFUs.
The company acquired Lab Society.
2024
The company announced a turn-key solventless extraction and equipment contract with Blackstone Valley Cannabis as well as a 6-day on-site advanced solventless training package where the company will train BVC on hash washing, freeze drying, pressing, jar tech, mechanical separation and vape cart formulation techniques.
The company announced that Justice Cannabis purchased the company’s turnkey hydrocarbon extraction and lab equipment package and a UL-Compliant C1D1 explosion proof room.
The company announced the signing of a multi-year cultivation and extraction deal worth 3.4 million USD including 156 of Agrify’s Vertical Farming Units and a complete turnkey pure pressure solventless extraction lab package and a 2-year service support agreement at 350 USD a pound production success fee as well as a 5-year SaaS fee agreement with HarvestWorks Farm in New Jersey.
The company announced the signing of a term sheet with PDS Ventures in Michigan to provide PDS with the company’s multi-year end-to-end managed extraction services for a 3-year period.
The company announced the signing of an approximately half a million dollars turnkey ethanol extraction and lab equipment package with Denver Cole Labs in New Jersey.
The company announced a turn-key hydrocarbon extraction and lab equipment package with SoundView as well as a custom concept architecture plan and construction document plan.
The company installed a PX-30 hydrocarbon extraction system at Lume Cannabis’ Michigan facility which previously was working with the company’s XMU hydrocarbon extraction system.
The company entered into a multi-million dollar sales agreement with Ocean Deep/Golden Lake Business Park in California which will be using the company’s turnkey PX30 hydrocarbon extraction lab package with expectations of a coming order for 120 Vertical Farming Units.
The company signed an agreement turnkey hydrocarbon extraction and lab equipment package for its PX10 with Grotech Farms worth 500 K USD.
The company entered into securities purchase agreements with institutional and accredited investors in a non-brokered private placement priced at 22.30 USD per share for aggregate proceeds of approximately 25.9 million USD. GTI provided 20 million USD in funding and the company drew 10 million from that amount. Benjamin Kovler also participated in the private placement and purchased 10,000 shares of common stock at 38.76 USD each. GTI also acquired an ownership stake in Agrify through purchasing stock and warrants from Raymond Chang and I-Tseng Jenny Chan, both stepped down from the board before the announcement and Chang also stepped down from his spot as CEO. I-Tseng Jenny Chan sold her whole stake in the company for a total of 18.3 million USD. Green Thumb Industries’ CEO was appointed as Agrify’s interim CEO and was given a board chair together with Green Thumb’s VP of strategic initiatives and partnerships, Armon Vakili, and Richard Drexler, a person with over 40 years in corporate leadership roles.
The company sold its cannabis cultivation operation to CP Acquisitions, an investment firm affiliated with former CEO, Raymond Chang. The cultivation operations include vertical farming units, related assets as well as its Agrify Insights software applications and sees 2 convertible notes held by CP Aquisitions of 7 million USD as being terminated.
The company announced plans to merge with Nature’s Miracle but the plan was terminated by both parties due to unfavorable market conditions.
2025
The company entered into a complex, multi-part agreement with Green Thumb Industries where they purchased IP from GTI, including a licensing agreement allowing GTI to continue using that IP as well as a loan from GTI to Agrify.
At the time of the transaction, GTI already owned 35% of Agrify with GTI CEO Benjamin Kovler also serving as Agrify’s Chairman and interim CEO. The sale of brand IP equaled $50 million and included the transfer of ownership of RYTHM, Beboe, Dogwalkers, Doctor Solomon’s, &Shine and Good Green from GTI to Agrify. Immediately following the sale, Agrify licensed the brands back to GTI giving GTI the right to manufacture and distribute products under these brand names for which GTI will pay Agrify a monthly license fee based on product sales. GTI issued a $45 million loan to Agrify in the form of a secured convertible note with maturity on February 25, 2027 with an interest of 10% annualized, payable in cash, stock, or warrants. GTI can convert this debt into Agrify common stock at a price of $29.475 per share and the note ranks senior to most other Agrify debt. The company also changed their name to RYTHM.
2026
The company amended its partnership with Green Thumb Industries Inc. to an aggregate fixed annual cash fee of $70 million, subject to an annual increase equal to two times a Consumer Price Index-based escalator.
BRANDS:
Precision Extraction Solutions offers extraction equipment, lab planning & design, installation & training and techincal support.
Good Green is green flower that does good while offering flower, mixed buds and popcorn.
The brand offers funding to nonprofits creating opportunity and change in 3 key areas: education, employment and expungement.
Dogwalkers cannabis pre-rolls are inspired by the journey shared with your dog during a walk. The pre-rolls are filled with premium flower and presented in discreet and convenient packaging. The dogwalkers come in the following varieties: Sit (Indica), Stay (Hybrid) and Play (Sativa). A portion of the proceeds are donated to dog organizations in every state that the product is sold. The newest line of Dogwalkers is Show Dogs which comes in the same varieties as before and is a line of infused cannabis pre-rolls.
Beboe consists of a line of cannabis vaporizer pens, gummies and pastilles. The brand also has a CBD-infused skincare line called Beboe Therapies. It was founded by celebrity tattoo artist Scott Campbell and former fashion executive Clement Kwan. The products are designed to be beautiful, discreet, and socially-dosed.
The founder’s grandmother was called Be Boe and she made special brownies that were off-limits for everyone but his mother during her battle with breast cancer, they were even kept under lock and key in a closet. Scott created Beboe in honor of these strong and loving women.
Rythm is a premium cannabis brand that releases special edition products and is committed to giving back to the organizations that inspire them, organizations like the GLBT Historical Society and Making Strides Against Breast Cancer. The brand offers flower, vapes and concentrates.
Diane Solomon challenged accepted standards for women’s healthcare throughout her working career as a doctor and this led to the creation of Doctor Solomon’s. Her daughters Laura and Rebecca were inspired by her work as a physician and scientist and inspired them to apply scientific standards to build reliable medical cannabis products for patients in need. The brand offers lotions, balms, drops and RSO.
&Shine offers flower, vape, edibles and pre-rolls and is is all about good cannabis that sparks good times.