HydroGreen Named SXSW Innovation Awards Global Finalist in New Economy Category

Showcasing HydroGreen among 65 of the most exciting technology developments in the connected world across 13 categories, the 24and The annual SXSW Innovation Awards Ceremony will take place at Austin, TXto March 14, 2022.

“It just saved our farm,” said Michael Rigbyowner of Rigby Cattle Co. in Utah, who has two HydroGreen AVPs on his farm. Extreme drought, rising costs and climate change are impacting farmers around the world. “The severe drought has left us worried that we won’t be able to feed our herd. HydroGreen technology allows us to grow our own fresh cattle feed. Our family has worked in the cattle industry for generations and we are considering getting out of the business entirely if we couldn’t get high-quality, nutritious feed for our livestock.Having a consistent, predictable supply of feed, regardless of the weather, is essential for our family farm.

HydroGreen AVPs are vertically stacked hydroponic growing layers in a controlled environment, efficiently bringing pasture indoors, harvesting fresh feed for livestock daily, 365 days a year. Unlike other vertical farms, the process is fully automated, with sowing, watering, and harvesting in a clean environment with no pesticides, less water, less land, and less labor.

A dozen commercial-scale PVAs replace 500 acres of farmland, the equivalent of 378 football fields, and use 95% less water than traditional outdoor cultivation. With a dozen machines, that saves 500 gallons of water a year, enough to give every person on the planet a glass of water.

“It is an honor to be nominated among these globally recognized projects. What started as a farmer’s idea to fight drought has turned into a game-changing agricultural technology that can help farmers around the world,” said Dan Schmidt, President, HydroGreen. “We see the need for this now more than ever. The weather and climate disasters of 2021 have hit farms and ranches across United Statesresulting in more $12.5 billion in crop and rangeland losses. We are thrilled to see our team’s hard work and technology showcased at SXSW. At CubicFarms and HydroGreen, we are passionate about helping farmers succeed and do more with less, locally and sustainably. »

“The Innovation Awards are such an important part of what we do at SXSW – the title of this competition reflects one of the pillars of the event. And for this year, the quality of entries we received was absolutely out of the ordinary. common,” mentioned Hugh Forrest, director of programming. “Each 2022 finalist pushes the boundaries with the new ideas, new technologies and new processes they bring. I can’t wait until the Innovation Awards ceremony on March 14 to see which of these finalists emerge as the best of the best of the best!”

“It is heartbreaking to see the devastation of climate change and the long supply chain disruptions that affect so many farms and ranches across North America and the world,” said Dave Dinesen, president and CEO of CubicFarms. “HydroGreen is a technology that helps communities who need a solution today and gives hope to future generations of farmers. As one of only two Canadian companies recognized at this year’s SXSW, we are proud to share our impactful and innovative Automated Vertical Pastures™ technology with an international audience. Congratulations to all the finalists and winners of this year’s SXSW Innovation Awards categories!”

About Cubic Farms

CubicFarms is a leading local agricultural technology company that develops and deploys technologies to feed a changing world. Its proprietary agricultural technology solutions enable growers to produce high-quality, predictable fresh produce with HydroGreen Nutrition Technology, a division of CubicFarm Systems Corp. The CubicFarms™ system contains patented technology for growing leafy greens and other crops on site, indoors, all year round. CubicFarms provides an efficient and localized food supply solution that benefits our people, our planet and our economy.

For more information, please visit www.cubicfarms.com.

On behalf of the Board of Directors

“Dave Dinesen”

Dave Dinesen, General Manager

This release may contain certain “forward-looking statements” or “forward-looking information” under applicable securities laws. Forward-looking terms such as “may”, “will”, “could”, “should”, “should”, “plan”, “potential”, “intend”, “anticipate”, “project”, “target “, “believe”, “plan”, “outlook”, “estimate” or “forecast” and other words, terms and expressions of a similar nature are often intended to identify forward-looking statements, although not all forward-looking statements contain not these identifying words. Forward-looking statements are based on certain key expectations and assumptions made by the Company. Although the Company’s management believes that the expectations and assumptions on which these forward-looking statements are based are reasonable, undue reliance should not be placed on forward-looking statements as the Company cannot guarantee that they will prove to be accurate.

SOURCE CubicFarm Systems Corp.

For further information: Media Contact: Andrea Magee, T: 236.885.7608, E: [email protected]; Investor Contact: Tom Liston, Tel: 416.721.9531, E: [email protected]

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