Agrify announces first multi-year, $2M extraction managed services contract

Agrify Corporation announced the signing of a term sheet with PDS Ventures, a licensed Michigan operator, to provide PDS Ventures with Agrify’s multi-year end-to-end managed extraction services. The multi-year Managed Service contract allows Agrify to collect a monthly production success fee based on the actual amount of finished product produced and a monthly management fee during the duration of the contract term. Agrify could potentially earn up to $2 million throughout the lifetime of this multi-year managed service contract with PDS Ventures. “We are extremely excited to launch our end-to-end managed service contract with PDS Ventures,” said Brian Towns, EVP & General Manager of Agrify. “We have been planning for the launch of this industry-first end-to-end managed extraction service for some time and it is only possible with the combination of our proprietary managed software and the multiple extraction solutions now under Agrify. Together, we believe PDS Ventures will become one of the most successful extraction operators in the State of Michigan.”