~ 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 ~
ONTARIO,
Calif., Oct. 28, 2024 /PRNewswire/
-- 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.
Forward-Looking Statements
The information in this press release includes "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include, but are not
limited to, statements regarding expectations, hopes, beliefs,
intentions or strategies regarding the future. In addition, any
statements that refer to projections, forecasts or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking statements. The words
"anticipate," "believe," "contemplate," "continue," "could,"
"estimate," "expect," "forecast," "intends," "may," "will,"
"might," "plan," "possible," "potential," "predict," "project,"
"should," "would" and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. Forward-looking
statements in this press release may include, for example: the
intended use of proceeds from the offering; successful launch and
implementation of Nature's Miracle's joint projects with
manufacturers and other supply chain participants of steel, rubber
and other materials; changes in Nature's Miracle's strategy, future
operations, financial position, estimated revenues and losses,
projected costs, prospects and plans; Nature's Miracle's ability to
develop and launch new products and services; Nature's Miracle's
ability to successfully and efficiently integrate future expansion
plans and opportunities; Nature's Miracle's ability to grow its
business in a cost-effective manner; Nature's Miracle's product
development timeline and estimated research and development costs;
the implementation, market acceptance and success of Nature's
Miracle's business model; developments and projections relating to
Nature's Miracle's competitors and industry; and Nature's Miracle's
approach and goals with respect to technology. These
forward-looking statements are based on information available as of
the date of this press release, and current expectations, forecasts
and assumptions, and involve a number of judgments, risks and
uncertainties. Accordingly, forward-looking statements should not
be relied upon as representing views as of any subsequent date, and
no obligation is undertaken to update forward-looking statements to
reflect events or circumstances after the date they were made,
whether as a result of new information, future events or otherwise,
except as may be required under applicable securities laws. As a
result of a number of known and unknown risks and uncertainties,
actual results or performance may be materially different from
those expressed or implied by these forward-looking statements.
Some factors that could cause actual results to differ include: the
ability to maintain the listing of the Company's shares on Nasdaq;
changes in applicable laws or regulations; the effects of the
coronavirus (COVID-19) and any future outbreaks on Nature's
Miracle's business; the ability to implement business plans,
forecasts, and other expectations, and identify and realize
additional opportunities; the risk of downturns and the possibility
of rapid change in the highly competitive industry in which
Nature's Miracle's operates; the risk that Nature's Miracle's and
its current and future collaborators are unable to successfully
develop and commercialize Nature's Miracle's products or services,
or experience significant delays in doing so; the risk that the
Company may never achieve or sustain profitability; the risk that
the Company will need to raise additional capital to execute its
business plan, which may not be available on acceptable terms or at
all; the risk that the Company experiences difficulties in managing
its growth and expanding operations; the risk that third-party
suppliers and manufacturers are not able to fully and timely meet
their obligations; the risk that Nature's Miracle's is unable to
secure or protect its intellectual property; the possibility that
Nature's Miracle's may be adversely affected by other economic,
business, and/or competitive factors; and other risks and
uncertainties described in Nature's Miracle's filings from time to
time with the SEC.
Contacts
George
Yutuc
Chief Financial Officer
George.Yutuc@nature-miracle.com
MZ North America
Shannon
Devine / Rory Rumore
Main: 203-741-8811
NMHI@mzgroup.us
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SOURCE Nature's Miracle Holding Inc.