October 5, 2021 By Fruit & Vegetable
On Oct. 5, CubicFarm Systems Corp., a local chain agricultural technology company, announced the establishment of an Alberta Grow Centre by acquiring growing modules and assets worth $1.5 million from Swiss Leaf Farms Ltd., located 50 kilometres north of Edmonton in Busby, Alta. CubicFarms paid $750,000 in cash to increase its holdings from 50 to 100 per cent, with the remaining balance offset by its existing investment in Swiss Leaf Farms. As part of this agreement, CubicFarms is hiring Swiss Leaf Farms owners and operators David and Alyssa Pfaeffli and four current employees to join its growing team and continue working onsite. Swiss Leaf Farms’ operations will be known as the CubicFarms Alberta Grow Centre.
With 14 CubicFarm System modules currently in operation, the Alberta Grow Centre will accelerate the company’s research and development activities and continue growing and selling produce locally following the GLOBAL G.A.P. set of standards for good agricultural practices.
David and Alyssa Pfaeffli were among the first farmers to implement the CubicFarm System indoor growing technology. “Today’s ag tech is necessary for the future of farming, and we’re excited to continue growing with CubicFarms,” said Alyssa in a press release. “We want our kids and local community to have access to delicious, fresh local produce year-round. In Alberta, we’re successfully growing indoors in the CubicFarm System 365 days a year, including in -40 C winter weather. We’re looking forward to helping Cubic Farmer Partners growing locally in places all around the world.”
“The Alberta Grow Centre is the fastest and most cost-effective way to immediately expand and scale our existing R&D capabilities and better support our customers with large-scale operations,” said Dave Dinesen, CubicFarms CEO, in a press release. “David and Alyssa Pfaeffli and the Alberta team are among our most experienced CubicFarm System growers, bringing significant commercial scale operational expertise to our team. By adding this proven facility and team, we can more than double our cultivar R&D abilities and increase the number of plants we can grow commercially using our patented technologies. This will be a huge benefit to our Farmer Partners and ultimately to our shareholders.”
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