Inventronics accelerates the development of plant LED lighting market

In May 2020, Inventronics invested US$4 million in Agrify, an American planting overall solution provider, to increase the field of plant lighting. In August of the same year, Agrify Corporation formally filed an IPO application in the United States.

On January 28, Inventronics issued an announcement announcing that Agrify will complete its IPO and be listed on the Nasdaq Stock Exchange on January 28, 2021 (Eastern Time), with the stock code "AGFY".

Agrify is offering 5,400,000 shares in its initial public offering (before the over-allotment option is exercised) at a price of $10 per share. In addition, the lead underwriter in charge of the public offering will be granted an over-allotment option to over-sell up to 810,000 shares at the same offering price within 45 days of the public offering.

Agrify's main business is various types of high value-added cash crops, especially providing vertical farming system solutions for medical cannabis plants. Agrify is adopting Inventel's power supply products, and its LED driver power supply can be fully integrated with Agrify's hardware vertical planting unit (VFU) to form a synergistic effect. In the future, Agrify will continue to purchase power products from it.

Inventel said that the investment in Agrify is mainly due to its optimism about the prospects of global vertical farming, especially the indoor growing market of medical cannabis.

Since 2020, horticultural lighting has become popular all over the world. Driven by multiple factors such as epidemic prevention opportunities and legal commercialization of marijuana, the horticultural lighting market has successfully entered a fast-growing track.

According to the analysis of LEDinside, an optoelectronic research division of TrendForce, since the second quarter of 2020, orders from plant lighting LED companies have grown rapidly.

Inventel's layout in the field of horticultural lighting can be a clear example. The company actively develops LED drive power for plant lighting, and currently has the ability to provide systematic power solutions for vertical agriculture. The prospect of the North American horticultural lighting market is very promising, and the successful listing of Agrify will help Inventech to accelerate the development of the horticultural lighting business on a global scale.