Welcome to our dedicated page for Cea Industries news (Ticker: CEADW), a resource for investors and traders seeking the latest updates and insights on Cea Industries stock.
CEA Industries Inc (CEADW) delivers essential environmental control systems for sustainable agriculture through integrated engineering solutions. This news hub provides investors and industry professionals with authoritative updates on the company's technical advancements and market position.
Access timely updates including earnings reports, product innovations, and strategic partnerships. Our curated collection features regulatory filings, leadership announcements, and operational developments directly impacting the controlled environment agriculture sector.
Key coverage areas include:
• Climate control system updates
• Engineering service expansions
• Automation technology milestones
• Sustainability initiatives
Bookmark this page for streamlined tracking of CEADW's progress in advancing precision agriculture technologies. Verify information through original SEC filings and official company communications linked within each update.
Surna Cultivation Technologies, a subsidiary of CEA Industries (NASDAQ: CEAD), has secured a $1.7 million contract with a Massachusetts cultivation facility. This marks their third consecutive contract with this client, showcasing their reliability in delivering on time and budget. Previously, Surna provided mechanical engineering services and benching equipment valued at $615,000. The latest contract involves a comprehensive suite of HVACD equipment including air handlers, dehumidifiers, chillers, and more for various cultivation and processing rooms.
CEA Industries Inc. (NASDAQ: CEAD, CEADW) reported a strong Q3 2022, with revenue increasing by 68% QoQ and 37% YoY to $5.1 million. However, gross profit fell to $0.6 million, marking a 20% decline YoY. Operating expenses rose 39% YoY to $1.7 million, impacting net loss which was $1.0 million for the quarter. CEA Industries noted a decrease in net bookings to $2.2 million and backlog dropped to $6.8 million. Despite challenges from inflation and supply chain issues, the company aims to diversify beyond cannabis customers and anticipates revenue generation from backlog over the next 18 months.
Surna Cultivation Technologies has partnered with Hydrobuilder Holdings in a non-equity strategic alliance to establish a comprehensive one-stop-shop for indoor cultivation companies.
This collaboration combines Surna's expertise in controlled environment agriculture (CEA) systems with Hydrobuilder's extensive product catalog and services. The partnership aims to enhance customer offerings, facilitating the construction and refurbishment of cultivation facilities. Both companies anticipate significant growth potential from this alliance.
CEA Industries Inc. (NASDAQ: CEAD, CEADW) will hold a conference call on November 14, 2022, to discuss its third-quarter results for the period ending September 30, 2022. Management will lead the call, which includes a question-and-answer session. Interested parties can participate by dialing 1-973-528-0008 with access code 712632 or through a webcast available on the company's website starting November 15, 2022, at 5:00 p.m. ET. CEA Industries, based in Louisville, Colorado, focuses on controlled environment agriculture.
Surna Cultivation Technologies has expanded its offerings to include water treatment solutions aimed at enhancing crop health and sustainability. This new service includes comprehensive systems tailored to the specific needs of cultivators, such as water sampling, system design, and integration. Surna's solutions utilize technologies like Reverse Osmosis and Ultraviolet treatment to ensure clean water, crucial for cultivation. With over 16 years in the industry, Surna aims to optimize water efficiency for over 800 customers.
Surna Cultivation Technologies, a subsidiary of CEA Industries (NASDAQ: CEAD), announced an expansion of its offerings to include water treatment solutions. Recognizing the diverse water chemistries across regions, Surna aims to provide tailored purification systems for cultivators. Their services encompass water sampling, system design, equipment supply, and integration. Utilizing technologies like Reverse Osmosis and Carbon Filtration, Surna promotes financial and environmental sustainability through effective water conservation solutions.
CEA Industries Inc. (NASDAQ: CEAD, CEADW) has announced a new contract signed by its subsidiary, Surna Cultivation Technologies, with a client of partner Merida Capital Holdings. This contract adds to Surna's backlog, which totals $9.7 million as of August 11, 2022. Surna will provide HVAC systems including EnviroPro air handlers and dehumidifiers for this Connecticut-based client. The CEO expressed optimism about advancing the partnership with Merida, highlighting successful past engagements.
Surna Cultivation Technologies has announced its participation in several upcoming indoor agriculture conferences. The events include the Lucky Leaf Expo in Albuquerque, NM on October 21-22, CEA Summit East on October 25-26 in Danville, VA, and the Resilient Harvests Conference in San Diego, CA on November 1-2. They will also exhibit at the MJBiz Conference in Las Vegas, NV from November 16-18.
CEA Industries Inc. (NASDAQ: CEAD, CEADW) announced the adjournment of its 2022 annual meeting of stockholders to October 6, 2022, due to insufficient quorum on August 29. As of now, 44.512% of eligible shares had been voted, with 41.418% in favor of the adjournment. The Company encourages shareholders, especially those holding through brokerages, to vote their shares to ensure participation. Key proposals include the election of five director nominees and the selection of Sadler, Gibb & Associates as the independent auditors for the fiscal year ending December 31, 2022.
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