CubicFarm Systems Corp. Wins "Overall Indoor Farming Solution Provider of the Year" in 2021 AgTech Breakthrough Awards

Annual Awards Recognize Innovation in Agricultural Technologies Around the Globe

VANCOUVER, BC, Aug.  18, 2021 /CNW/ - CubicFarm® Systems Corp. ("CubicFarms" or the "Company") (TSXV: CUB), a local chain agricultural technology company, today announced that it has been selected as winner of the "Overall Indoor Farming Solution Provider of the Year" award in the 2021 AgTech Breakthrough Awards conducted by AgTech Breakthrough, a leading market intelligence organization that recognizes the top companies, technologies, and products in the global AgTech market today.

Founded by farmers, CubicFarms provides automated, onsite commercial-scale food and livestock feed technologies. The CubicFarm System and HydroGreen Grow System indoor growing technologies convert wasteful long supply chain agriculture into local chains, enabling farmers to grow more with significantly less land, water, waste, and physical labour in any climate, year-round.

The HydroGreen Grow System technology for fresh livestock feed was designed for areas impacted by water scarcity and uses 90% less water than conventional irrigated field crops. Farmers using HydroGreen's technology can harvest fresh livestock feed daily, exponentially increasing output by producing up to 360 harvests annually, compared to two harvests per year using traditional farming methods.

For fresh produce, CubicFarms' unique patented Crop Motion™ technology moves the plants, maximizing cubic square footage while moving trays to the front of the module for seeding and harvesting. The CubicFarm System uses significantly less land compared to field farming to grow the same amount of fresh produce. The volume grown in only one CubicFarm module is the same amount that can grow in an area the size of a football field.

To grow a head of lettuce in a CubicFarm System it only takes two bottles worth of water, compared to 40 bottles of water needed for field farming. Fresh leafy greens are harvested with the root attached, retaining 45% more nutrients than field farming and staying fresher for longer.

"Most food requires long-distance shipping. By 2050, more than half the world's population will rely on food sourced outside their country. Being dependent on long supply chains has resulted in food scarcity and waste, contaminated food, and depleted farming resources," said Bryan Vaughn, Managing Director of AgTech Breakthrough Awards. "CubicFarms technologies can significantly improve independent access to quality food and maximize crop yield all while reducing the environmental cost of food and feed production in a meaningful way. We are so pleased to present CubicFarms with the highly competitive 'Overall Indoor Farming Solution Provider of the Year' award for 2021. CubicFarms is truly changing the world one innovation at a time."

CubicFarms currently has more than 187 modules under contract with deposits in locations across Canada, the U.S., and Australia.

The mission of the annual AgTech Breakthrough Awards program is to conduct the industry's most comprehensive analysis and evaluation of agricultural and food technology categories, including Internet-of-Things ("IoT") and Artificial Intelligence ("AI") based agricultural technologies, farm management, indoor farming, food quality, data analytics, and many more. This year's program attracted more than 1,500 nominations from over 15 different countries throughout the world.

"We're thrilled that CubicFarms and HydroGreen technologies have won the 'Overall Indoor Farming Solution Provider of the Year' AgTech Breakthrough Award," said Dave Dinesen, CEO, CubicFarms. "Innovative indoor farming solutions are changing what's possible now and for the future of farming. We're proud to create and deliver technologies that help farmers to keep growing sustainably, anywhere in the world."

About CubicFarms

CubicFarms is a local chain agricultural technology company developing and deploying technology to feed a changing world. Its proprietary ag-tech solutions enable growers to produce high quality, predictable produce and fresh livestock feed with HydroGreen Nutrition Technology, a division of CubicFarm Systems Corp. The CubicFarms™ system contains patented technology for growing leafy greens and other crops onsite, indoors, all year round. CubicFarms provides an efficient, localized food supply solution that benefits our people, planet, and economy.

For more information, please visit www.cubicfarms.com.

About AgTech Breakthrough

Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the AgTech Breakthrough Awards program is devoted to honoring excellence in agricultural technologies, services, companies, and products. The AgTech Breakthrough Awards program provides a forum for public recognition around the achievements of AgTech companies and solutions in categories including farm management, indoor farming, automation, IoT and robotics, food quality, analytics and more. For more information visit AgTechBreakthrough.com.

On behalf of the Board of Directors

"Dave Dinesen"

Dave Dinesen, Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.

SOURCE CubicFarm Systems Corp.