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VANCOUVER, BC, Oct. 6, 2020 /CNW/ - CubicFarm® Systems Corp. (TSXV: CUB) ("CubicFarms" or the "Company") is pleased to announce the sale of its automated, controlled-environment system to Agragene Inc. ("Agragene"), a San Diego, US-based ag-tech company developing novel biological pest protection for crops, utilizing live sterile male insects as a form of insect pest control. This sale marks a new vertical for CubicFarms' fresh produce system, which will now be used by Agragene to grow insects predictably in an indoor, controlled environment.
The Company finalized an agreement for the sale of one CubicFarms growing machine, and received a deposit from Agragene. The machine is expected to be installed in San Diego by the end of the year.
Agragene plans to trial the breeding of its proprietary insect lines to produce only sterile male crop pests inside the machine. The sterile males are then released into the field where they effectively and safely control the wild pest population. Upon satisfactory completion of the trial, Agragene plans to scale up its insect factory with multiple CubicFarms machines.