CEA Industries (NASDAQ:CEAD) shares are trading higher after the company's subsidiary, Surna Cultivation Technologies, announced it secured a letter of intent from Greene Brothers Farm for a potential $10 million in revenues.
CEA systems engineering and technologies, today announced it has entered into a letter of intent to provide products and mechanical engineering services over five phases with Greene Brothers Farm, Inc., a family owned and operated farm that is developing a 26-acre site exclusively for indoor cannabis cultivation.
Aaron Greene, Co-Founder and CEO of Greene Brothers Farm, Inc, stated "After a couple of years of planning and working with San Joaquin County, we are beyond excited to realize the dream that started back in 2020."
CEA Industries Inc through its subsidiary designs, engineers and manufactures application-specific environmental control and air sanitation systems for commercial, state and provincial-regulated indoor cannabis cultivation facilities in the U.S. and Canada.
CEAD Price Action: CEA Industries Inc. has traded between $13.50 and $0.95 over a 52-week period.
The stock was trading about 92.33% higher at $1.97 per share on Tuesday at the time of publication.
