Nature's Miracle Holding Inc. Announces Agreement with Robostreet to Launch Mobile E Farm in California
-Nature's Miracle to Receive 150 LS 450 Electric Trucks from Robostreet; 40 Electric Trucks Expected Before End of 2024 -Electric Trucks will be Converted into Mobile Vertical Farms -Cost of E-Trucks Expected to be Subsidized by the State of California's Energy Incentive Program
Nature's Miracle Holding Inc. (NASDAQ: NMHI) ("Nature's Miracle" or the "Company"), a leader in vertical farming technology and infrastructure, today announced it has entered into a Cooperation Agreement (the "Agreement") with Robostreet Inc. ("Robostreet") to order a total of 150 LS450 electric trucks from Robostreet. As part of the agreement, Robostreet will coordinate a third-party agency to assist Nature's Miracle in applying for California's incentive program to fund the purchase.
Nature's Miracle plans to convert these electric trucks into mobile vertical farms in order to grow micro-greens and herbs which will be delivered to an end customer base including consumers and businesses. Nature's Miracle will order 150 LS 450 electric trucks from Robostreet, 40 of which will be delivered by the end of 2024, and the remaining will be delivered within one year. Nature's Miracle plans to initially deploy the Mobile E Farms in the Los Angles market. Simultaneously, Robostreet will provide the required resources to maintain its electric trucks including a photovoltaic and energy storage integrated charging station at Nature's Miracle's California warehouse.
James Li, CEO of Nature's Miracle, commented, "We are excited to collaborate with Robostreet as we pursue our next growth initiative with an all electric mobile farming and distribution service. Securing Robostreet's LS450 electric trucks provides an infrastructure to develop a farm to table paradigm on the foundation of our mission focusing on sustainably sourced and cultivated agriculture made widely available to the end consumer. While we are currently in the early phase of strategic development, our objective is to establish a seamless platform that will combine our core vertical farming business, clean energy and EV technologies to provide consumers with direct access to fresh vegetable products."
About Nature's Miracle Holding Inc.
Nature's Miracle (www.Nature-Miracle.com) is a growing agriculture technology company providing equipment and services to growers in the Controlled Environment Agriculture ("CEA") industry which also includes vertical farming in North America. Nature's Miracle offers hardware to design, build and operate various indoor growing settings including greenhouse and indoor-growing spaces. Nature's Miracle, through its two wholly-owned subsidiaries (Visiontech Group, Inc. and Hydroman, Inc.), provides grow lights as well as other hydroponic products to hundreds of indoor growers in North America.
About Robostreet Inc.
Robostreet (www.robo-street.com) is a Boston-based smart and clean energy truck manufacturer specializing in advanced robotic trucks that can autonomously handle complex tasks. By combining artificial intelligence, clean energy, and robotics, Robostreet is shaping the future of transportation with innovative solutions focused on sustainability and efficiency. With a talented team and technology, Robostreet has partnered with several truck manufacturers to co-develop a series of electric truck chassis, designed to upgrade work trucks and utility vehicles.