News and Announcements
E Agri announces allocation for oversubscriptions to accommodate investors and launches on CRIISP
- Published August 06, 2019 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
E Agri today has launched on the innovative Wholesale Investor platform CRIISP as it enters its final stages for completion of its capital raising in August.
Through sustained efforts E Agri is currently in official Due Diligence with 2 parties, one a Shanghai based fund another a Dubai based fund, both will complete their Due Diligence this month with a view of taking up the full allocation. A third party has made an offer for funding and is currently being considered and assessed by the company.
Given the current funding situation, the company has allowed over subscriptions of up to US$1,250,000 to accommodate prospective shareholders wishing to participate in this current round. Access to the up to date investor offer can be found online through CRIISP.
View our CRIISP dealroom here.
About E Agri
E Agri’s fully automated, modular vertical cropping system for growing fresh vegetables, herbs, flowers and medicinal plants. Its IP is Patented (patent pending) and Trade Marked. E Agri is building Australia’s largest Vertical Farm in Melbourne, Victoria.
Apart from solving a number of the market’s problems such as food traceability, stock loss (which can be up to 50%) and quality, testing to date demonstrates grower unit costs are up to 60% lower and 100 time more productive with a new facility forecast to have an investment payback of less than 3 years.
The growing systems incorporate advanced robotics, smart controls and data analytics, automating the growing cycle from seedling through to harvest. Plants are grown in a protected, controlled environment with integrated environmental control systems.
The modular design is suitable for both urban city farming and large-scale food production facilities either re-trotting existing facilities or for new facilities. Growers are supported by a central technical support function being established in Melbourne, Australia. E Agri is part of the Federal Governments Food Innovation CRC.
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