- Cost reductions resulted from several growing tests
- New design also allows for organic certification
VANCOUVER, British Columbia, Dec. 06, 2017 (GLOBE NEWSWIRE) — Affinor Growers (CSE:AFI) (OTC:RSSFF) (Frankfurt:1AF) (“Affinor” or the “Corporation”), is pleased to announce several design improvements have resulted in a 30% reduction in overall cost and optimized growing conditions.
30% Tower Cost Reduction
Over the summer and during various grow-trial testing periods, Affinor took the opportunity to redesign certain aspects of the tower technology with the goal to reduce overall cost by 20%, improve plant resource availability and versatility. New ideas were conceived and prototyped with our supplier located in Port Coquitlam. By reducing the amount of parts and simplifying various fabrications, the overall financial objective was exceeded with a total cost saving of 30% per tower.
The towers have an estimated useful life of 20 years so a 30% reduction allows farmers to amortize the reduced cost at a lower rate and reap more financial benefits from the optimized growing conditions.
Organic Certification Potential
In parallel, the new design improvements upgrade the tower to allow growers to be certified as compliant for organic certification under current Canadian regulations pertaining to the amount of volume and depth of organic soil required per plant as well as improved light penetration by introducing a new tiered level approach. Improved versatility was achieved by designing a universal growing arm that now fits custom plastic inserts to maximize density during the plant growing cycle and accommodate different types of plants.
Jarrett Malnarick, President & CEO, commented, “We are very happy about the design improvements that occurred over the last several months and believe our growing technology can offer cost effective solutions to a variety of markets. These improvements will allow organic certification and enhanced growing environments for fresh fruit, produce and cannabis plants as well as offer versatility within the plant’s life cycle or types of product to be grown.”
For More Information, please contact:
Jarrett Malnarick, President and CEO
About Affinor Growers Inc.
Affinor Growers is a publicly traded company on the Canadian Securities Exchange under the symbol (“AFI”). Affinor is focused on growing high quality crops such as romaine lettuce, spinach, strawberries using its vertical farming techniques. Affinor is committed to becoming a pre-eminent supplier and grower, using exclusive vertical farming techniques.
On Behalf of the Board of Directors
AFFINOR GROWERS INC.
President & CEO
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING INFORMATION
This News Release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com. This News Release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.