Louisville, Colorado, June 29, 2022 (GLOBE NEWSWIRE) -- CEA Industries Inc. (NASDAQ: CEAD, CEADW), a leader in controlled environment agriculture (CEA) systems engineering and technologies, today announced it has entered into an agreement with Merida Capital Holdings in which Merida agrees to use the Company as its sole provider of certain products and services for Merida’s indoor cultivation facilities.
“Our subsidiary, Surna Cultivation Technologies LLC, has been and is working with Merida on several projects, and we are excited to formalize and extend our relationship for future opportunities,” stated Tony McDonald, Chairman and CEO of CEA Industries Inc.
Surna’s products and services include but are not limited to full-service licensed architectural and mechanical, electrical, and plumbing (MEP) engineering services, carefully curated HVACD equipment, proprietary controls systems, air sanitization, lighting, and benching and racking products. Surna’s team of project managers, licensed professional architects and engineers, technology and horticulture specialists and systems integrations experts help customers by precisely designing for the customer’s unique applications. Through its partnership with a certified service contractor network, Surna provides installation and maintenance services to assist in a smooth build-out and optimal facility performance.
“We are impressed with the results we have achieved with the products and services CEA Industries has provided in areas of development, design and provisioning of the cultivation facilities in which we invest,” said Mitchell Baruchowitz, Founder and Managing Partner of Merida Capital Holdings. “Following our investment in CEA Industries in early 2022, we are excited to deepen our partnership and tap their extensive experience as designers and engineers to help us build the most efficient and profitable cultivation facilities possible.”
About CEA Industries Inc.
CEA Industries Inc. (www.ceaindustries.com), is home to industry leaders in controlled environment agriculture, with complementary and adjacent companies added to its portfolio when aligned with the company’s growth initiatives. As the global environment for indoor cultivation continues to grow, CEA Industries was formed to embrace companies that support these ecosystems.
Headquartered in Louisville, Colorado, CEA Industries knows that growth is a team sport. Through future partnerships and mergers and acquisitions, both financial and strategic, CEA Industries will continue its pursuit of companies that bring accretive value to its customers and investors.
About Merida Capital Holdings.
Merida Capital Holdings (www.meridacap.com) is a private equity firm targeting fundamental growth drivers underpinning the responsible development of the cannabis industry. Merida’s investment emphasis focuses on cultivation technologies, products and services associated with the evolution of cannabis as an agricultural product, a natural plant-based medicine, a constituent in pharmaceutical formulations, and a recreational consumer product.
Merida seeks to accelerate proven operating models and supercharge growth of its portfolio by enhancing its commercial pipeline. By identifying essential providers with strong management teams, they can anticipate where enterprise-level or large industrial providers in related non-cannabis fields will look to find growth in their core businesses through acquisition or investment.
Safe Harbor Statement
This press release contains statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect our current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release, including the factors set forth in “Risk Factors” set forth in our annual and quarterly reports filed with the Securities and Exchange Commission (“SEC”), and subsequent filings with the SEC. Please refer to our SEC filings for a more detailed discussion of the risks and uncertainties associated with our business, including but not limited to the risks and uncertainties associated with our business prospects and the prospects of our existing and prospective customers; the inherent uncertainty of product development; regulatory, legislative and judicial developments, especially those related to changes in, and the enforcement of, cannabis laws; increasing competitive pressures in our industry; and relationships with our customers and suppliers. Except as required by the federal securities laws, we undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise. The reference to CEA Industries Inc.’s website has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.
Vice President, Marketing Communications
Sean Mansouri, CFA