SACKETS HARBOR, N.Y., Nov. 14, 2019 /PRNewswire/ -- Agbotic, the leader in machine-learning Smart Farms for organic and automated agriculture, and Black & Veatch, a global engineering and construction company that delivers sustainable ag-tech infrastructure, have entered into a Letter of Intent that defines how the two companies will collaborate to optimize, standardize, and turn-key deliver the Agbotic Smart Farm model, co-located with renewable energy assets. The two companies intend to deploy dozens of Smart Farms across North America and Europe over the next four years. Opportunities for improving the economics and adoption of controlled environment agriculture include lowering capital expenditure and decreasing the costs of energy and labor. The Agbotic model reduces capital costs, is highly energy-efficient, and is extensively automated to leverage machine learning and artificial intelligence. In addition, Agbotic deploys its year-round, distributed farming model on agricultural land that is certified organic and avoids the use of chemicals – even those approved for organic agriculture. The Company's model complements outdoor agriculture and cleans air, water and soil by planting trees, sequestering carbon, establishing wetlands, and maintaining habitats for sensitive wildlife.

John Gaus, co-founder and CEO of Agbotic, said, "Our team has successfully deployed a highly efficient model for automated and organic farming. It is energy-efficient, ecologically restorative, and produces high-quality products for a broad range of buyers. The model generates very attractive unit economics and is ready to scale. In order to scale, we require sophisticated partners that understand design, engineering, procurement, and construction in both the energy and agricultural sectors. We could not have found a better firm than Black & Veatch to deliver those to our business."

About Agbotic Inc.

Agbotic Inc. is a leading ag-tech enterprise headquartered in Sackets Harbor, NY. The Company deploys proprietary automation, machine learning, and AI to make high-quality organic products with an ecologically restorative and distributed farming model. www.agbotic.com

About Black & Veatch

Black & Veatch is an employee-owned engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people in over 100 countries by addressing the resilience and reliability of our world's most important infrastructure assets. Our revenues in 2018 were US $3.5 billion. Follow us on www.bv.com and on social media.

Contact: John Gaus 315-778-9664 / [email protected]

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SOURCE Agbotic Inc.