BILLERICA, Mass., June 01, 2022 (GLOBE NEWSWIRE) — Agrify™ Corporation (Nasdaq:AGFY) (“Agrify” or the “Company”), the most innovative provider of advanced cultivation and extraction solutions for the cannabis industry, announced its extraction division has expanded and strengthened its industry-leading portfolio of processing solutions with the unveiling of its new short path, thin film distillation system: the CannaBeast 13.

Lab Society^®, the market leader in distillation, solvent separation, and extraction solutions, which Agrify acquired in February 2022, partnered with InCon Process Systems to bring the CannaBeast 13 to market. This short path, thin film distillation system offers cannabis operators unprecedented flexibility, ease of use, dependability, consistency, and quality when extracting cannabis oil. Featuring the largest feed tank in its class for increased batch size and evaporator efficiency 2X higher than comparatively sized units, the CannaBeast 13 reduces the manpower required for operation while increasing production to 35-45 kg of distillate per eight-hour shift. This type of distillation system has a short path from where the distilled compound is evaporated to where it recondenses in the form of a distillate, which reduces the pressure drop between the areas of evaporation and condensation, allowing thermally-sensitive compounds to be distilled effectively and efficiently, and the low residency time inside the system enables compounds to be distilled and separated quickly without degrading thermally-sensitive compounds.

Compared to batch systems, thin film units expand processing speed and capabilities with a much smaller footprint since they run continuously (24/7) and distill thermally-sensitive compounds more efficiently. Constructed using the synthetic fluoropolymer PTFE, rollers on the CannaBeast 13 spread a smooth and even film across the inner surface area for ideal heat transfer, evaporation, and condensation rates, and the dual-pump manifold between the feed supply and still body helps maintain a consistent flow rate, which allows for continuous feeding and offers the flexibility to be fed a wide range of compounds, ideal for extracting diverse strains of cannabis. Integrated with EliteLab^® software, which now features a unique touch-based, system-view Human Machine Interface (“HMI”), users can collect and leverage crucial data, easily and conveniently change parameters on the fly to adapt operations to best suit the compound being fed into the machine, and save custom presets to ensure consistency and repeatability.

Other key features of the CannaBeast 13 include:

• Built using pharma-grade, USA-made 316 stainless steel for corrosion resistance, durability, and temperature stability
• Compound pressure gauge for system pressure and valve control allows users to dial in specific combinations of temperature and pressure for optimal distillation of a wide range of compounds
• Self-priming and standby valve system, a feature not included in any other system, helps diagnose pumping problems, minimize losses, and the three-way valve keeps oil flowing even while switching collection vessels
• Eight-gallon feed tank is the largest on the market for this size machine and can fit a high volume of compounds to last an eight-hour shift at one time
• Uses a common skid frame, which only requires one electrical connection and no modifications, so it can be deployed and set up quickly
• Jacketed stainless-steel piping is easy to clean and ensures the oil flows through properly
• Uses rolled film, extending the lifespan for the wiper module by minimizing the forced contact with the outer surface of the evaporator body
• High-efficiency cold trap, with an option for dual cold traps to get lower temperatures, captures vapors detrimental to equipment, helps maintain vacuum levels, and extends vacuum pump life
• GMP-forward design, ready for compliance
• Cleanout ports for easy maintenance and clean-in-place
• Manual or HMI-based motor speed control for continuous operation and safety

“As cannabis consumption becomes more widely accepted and new markets come online, distilled products, which allow for cannabinoids to be further isolated and recombined for specific, purposeful end-products, will only become increasingly popular,” said Raymond Chang, CEO of Agrify. “Since last September, we have methodically acquired four of the most innovative and promising extraction companies, each with their own unique capabilities, enabling operators to leverage our solutions to produce the highest quality and widest range of extracted cannabis products at scale. The CannaBeast 13 from Lab Society represents the pinnacle of short path, thin film distillation system technology, with a robust feature set that ensures unrivaled efficiency, versatility, consistency, and quality, and we look forward to exceeding our customers’ expectations through this amazing system.”

The CannaBeast 13 is now available amongst the complete short path and fractional distillation offerings from Lab Society. Contact the extraction experts at Lab Society for pricing and availability.

CannaBeast^® is a registered trademark of InCon Process Systems LLC (IPS).

About Agrify (Nasdaq:AGFY)
Agrify is the most innovative provider of advanced cultivation and extraction solutions for the cannabis industry, bringing data, science, and technology to the forefront of the market. Our proprietary micro-environment-controlled Vertical Farming Units (VFUs) enable cultivators to produce the highest quality products with unmatched consistency, yield, and ROI at scale. Our comprehensive extraction product line, which includes hydrocarbon, ethanol, solventless, post-processing, and lab equipment, empowers producers to maximize the quantity and quality of extract required for premium concentrates. For more information, please visit Agrify at http://www.agrify.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, concerning Agrify and other matters. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the expected performance and advantages of the CannaBeast 13, product availability and our ability to deliver solutions and services. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. You should carefully consider the risks and uncertainties that affect our business, including those described in our filings with the Securities and Exchange Commission (“SEC”), including under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC, which can be obtained on the SEC website at www.sec.gov. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and filings with the SEC.

Company Contacts

Agrify
Timothy Oakes
Chief Financial Officer
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(781) 760-7512

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ICR
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