Agrify Releases an Industry First: Stitchless Double Filtration Rosin Bags Under Solventless Extraction Brand PurePressure

New Product Offering Creates Potential for Recurring Consumable Revenue

BILLERICA, Mass., May 23, 2023 (GLOBE NEWSWIRE) -- Agrify Corporation (Nasdaq:AGFY) ("Agrify" or the "Company"), a leading provider of innovative cultivation and extraction solutions for the cannabis industry, announced the release of PurePacks, seamless, double filtration rosin bags, under solventless extraction brand PurePressure.

PurePressure, which Agrify acquired in January 2022, is a leader in solventless extraction and advanced ice water hash processing equipment for the cannabis and hemp industry. The release of PurePacks makes PurePressure the only company in the industry to offer a stitchless double bag that does not require flipping.

PurePacks are premium, double-layer rosin filter bags used with rosin presses for heat pressure filtration. As PurePressure's third rosin bag release, PurePacks are the result of years of research and development in response to customer feedback. PurePacks are available in five different sizes ranging from 2"x3" to 2.5"x9" and are sold in packs of 25, 100, or 200 on the PurePressure website. Prices start at $45/pack.

Composed of a small 25 μm bag inside a 120 μm bag, PurePacks rosin bags feature less wicking and a finer level of filtration in a single press. Double filtration eliminates the need to manually double bag and flip bags while reducing slippage and hydroplane risk. Before going to market, PurePacks were rigorously tested by industry leaders who observed up to a 4% yield increase in rosin production when pressing with PurePacks. Testing feedback prompted a Blowout Warranty for PurePacks: 30-day limited warranty that replaces rosin bags for customers who have a "blowout" rupture during pressing.

Lab Manager Sebastian Marquez noted, "At the end of the day, it's saving labor. The efficiency of not double bagging…if you’re pressing all day, you're going to cut out that quarter of your day you spend preparing."

The monofilament yarn used to manufacture the PurePacks are composed of substances which comply with the Code of Federal Regulations (USA), Food and Drugs, Title 21, Part 177. Rather than traditional stitching, PurePacks utilize sonic welds, with the welded seam placed on top of the bag. This placement creates a full perimeter of mesh for filtration, reduces blow out rates along seams, reinforces seams to prevent ruptures if used as intended, decreases back slipping, and ensures filtration media has a more reliable micron rating.

"Our customers’ needs are always front of mind. With the development of PurePacks, we directly addressed our customers’ pain points to create a product that performs to their exacting standards," said Raymond Chang, Chairman and Chief Executive Officer of Agrify. "With the release of PurePacks, we continue our commitment to compliance and quality. Paired with Agrify's full suite of offerings, we continue to deliver on our mission to provide our customers with premium end to end solutions so they can bring safe, quality extracts to market while continuing to push our efforts to drive recurring consumable revenue. It's a win-win."

PurePacks are available for immediate purchase via PurePressure. Visit the site to review specifications, compliance, and warranty information.

About Agrify (Nasdaq:AGFY)

Agrify is a leading provider of innovative 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 high 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 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 benefits of using PurePacks, Agrify's ability to derive recurring revenue from PurePacks, and Agrify's ability to deliver solutions and services, including the development of new solutions. 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. Agrify has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its business, financial condition and results of operations. 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 filed for the year ended December 31, 2021 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

Investor Relations Inquiries

Caitlin Moakley BrickerChief of Staff[email protected](617) 733-0584

Media Inquiries

Rachel SoulsbyVice President of Marketing

[email protected](978) 660-9125

Source: Agrify

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