Louisville, Colorado, June 21, 2022 (GLOBE NEWSWIRE) -- PRESS RELEASE -- CEA Industries Inc. (NASDAQ: CEAD, CEADW) (“CEA Industries” or the “Company”) subsidiary, Surna Cultivation Technologies LLC (“Surna”), a controlled environment agriculture (CEA) systems engineering and technologies company, today announced it has entered into a letter of intent to provide products and mechanical engineering services over five phases with Greene Brothers Farm, Inc., a family owned and operated farm that is developing a 26-acre site exclusively for indoor cannabis cultivation. CEA Industries anticipates contract revenues of approximately $10 million over an estimated two to three-year period. The initial contract, valued at $1.2 million, is for the first phase of products and services and is planned to be completed by early Q4 2022.
The project builds out a new all-indoor Cannabis Park, located in Lockeford, Calif., between Stockton and Sacramento, on a 26-acre property once used as a vineyard and wine distribution center. The Greene Brothers Farm Cannabis Park is an ambitious major expansion of the Greene Brothers’ operations that are currently located at a 200-acre farm in Mendocino County. The Cannabis Park will be the new headquarters for the Greene Brothers and will include cultivation, manufacturing, non-storefront retail sales and distribution. Once complete, the Cannabis Park will utilize 371,918 square feet of new structures.
“After a couple of years of planning and working with San Joaquin County, we are beyond excited to realize the dream that started back in 2020,” stated Aaron Greene, co-founder and CEO of Greene Brothers Farm, Inc. “We look forward to creating hundreds of jobs and funding various community improvements that will be enjoyed by our new neighbors with revenue generated from our Cannabis Park and Farmacy Phactory brands. We partnered with Surna because we know they can provide the outstanding engineering, design and equipment that we require in a quick and efficient manner throughout each phase of development.”
Phase 1 is estimated to be online by Q4 of this year. For this first phase, Surna will perform mechanical engineering services that will include the design of exhaust air filtration systems to eliminate odors as well as to provide climate controls systems, its EnviroPro air handling equipment and Surna by Anden dehumidifiers. Phases 2 and 3 are planned for completion in 2023, while phases 4 and 5 are planned for completion in 2024.
“We are proud to have been chosen by Greene Brothers Farm for this multi-million-dollar, multi-phase development project,” said Tony McDonald, chairman and CEO of CEA Industries Inc. “We expect this to be a winning relationship for both of us and we will strive to make this Greene Brothers Farm Cannabis Park an exemplary representation of these types of projects for others in this industry.”
