Agrify Corporation announced that it has received a license from the state of Massachusetts for the cultivation and production of industrial hemp (the “License”) at the Company’s Billerica, Massachusetts facility (the “Facility”). Under the License, Agrify expects to cultivate up to 3,000 plants per year. Concurrent with the receipt of the License, the Company also announced it has officially opened its product showcase and corporate office at the Billerica location to customers and visitors. Cultivation at the Facility is slated to begin in August 2021 with the programs initially focusing on the optimization of chemical metabolite production, increasing biomass, and delivering cultivation grow plans designed to elicit specific chemotypic and phenotypic trait expression in hemp plants. The newly opened Facility features eleven Vertical Farming Units (“VFUs”) and one Integrated Grow Rack, each highlighting the impact that Agrify’s VFUs have on quality, consistency, and yield in hemp cultivation. The Billerica center will provide a venue for research, training, hands-on education, and the optimization of processes that will improve the outcomes and success of Agrify’s customers.