Agrify Announces New CFO as Company Scales for Rapid Growth

BURLINGTON, Mass., Jan. 30, 2020 (GLOBE NEWSWIRE) -- via CannabisNewsWire – Agrify, a developer of premium indoor grow solutions for the cannabis and hemp markets, announces today the expansion of its management team with the appointment of Niv Krikov as its chief financial officer, effective Feb. 4, 2020. The addition of Mr. Krikov will help Agrify meet increasing demand for its products and services and will optimize Agrify’s business performance.  

“Our growth is being driven by rising competitive needs of indoor growers; recognition of growing professionalization in the industry; and our unique abilities to help growers build strategic advantages, including enhanced product quality and consistency, improved operational efficiencies and branding,” said Agrify Chief Executive Officer Raymond Nobu Chang. “We have reached a critical point where we need a CFO to strengthen our team and lead us through our next stage of growth.”

“Niv is a highly accomplished, strong leader whose broad experience will enable Agrify to rapidly move forward with our expansion and optimization initiatives,” said CEO Chang. “His proven record in leading organizational transformation; deep public-company finance and accounting experience; and expertise in capital markets, strategic planning and analysis, M&A and financial system implementation will be an asset to our company as we continue to execute our growth strategies.”

"Agrify is changing the way growers protect and maximize their assets," Mr. Krikov stated. "I believe our potential for growth and value creation is tremendous, and I look forward to partnering with the team to build the business.”

Mr. Krikov has more than 15 years of experience in financial leadership and business development at growth companies. He joins Agrify after two years as chief financial officer at Desalitech, which was acquired by DuPont. Previously, he held the same position at PeerApp, where he led initiatives that secured equity infusions and significantly lowered operating costs, with eventual acquisition by a private equity firm. Mr. Krikov also served as chief financial officer at NYSE-listed NTS from 2007 to 2014, where he was instrumental in executing a turnaround that doubled profitability. Mr. Krikov is a certified public accountant with a Master of Laws from Bar-Ilan University in Israel and a bachelor’s degree in accounting and economics from Tel-Aviv University in Israel.

In addition to strengthening its executive team, Agrify also recently announced its strategic acquisition of TriGrow. The acquisition enables Agrify to offer a full range of solutions and services designed to overcome key industry challenges, including crop inconsistency and quality, slow return on investment and lack of funding. The deal additionally bolsters Agrify’s distribution and branding capabilities, creating a powerful, one-stop shop for growers. Together, the companies will offer a comprehensive portfolio of products and services that help cultivators rapidly scale up operations, improve business performance and build brand value. 

About Agrify
Agrify is a rapidly growing developer of premium indoor grow solutions for the cannabis and hemp marketplace. Our comprehensive grow solutions have been developed with one mission in mind: to assist our valued customers in producing the highest-quality product possible with consistency and superior yields. Agrify is a non-plant-touching company. To learn more, check us out at www.agrify.com.

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