Agrify Corporation (NASDAQ: AGFY) has acquired Lab Society, a provider of distillation and solvent separation solutions for the cannabis extraction industry.
“We are ecstatic to add Lab Society to our portfolio of high-quality extraction solutions,” Raymond Chang, chairman and CEO of Agrify stated. “As federal legalization edges closer to reality, we believe the United States government will likely increase its role in setting the quality, consistency, and safety standards for medical and recreational cannabis products. By owning the top key solutions that produce the highest quality and the widest range of extracted cannabis products at scale, we expect it will provide Agrify with a significant competitive differentiation, enhanced customer value-add, superior industry leadership position and significant growth opportunities globally.”
