Nature's Miracle Holdings Inc. ("Nature's Miracle"), a leader in the controlled environment agriculture industry, announces that it has entered into a non-binding Memorandum of Understanding ("MOU") with PowerGrow Inc. ("PowerGrow") to, subject to the execution of a final agreement, work cooperatively to develop a nationwide portfolio of clean energy enclosed greenhouses containing indoor grow, processing and packaging spaces and incorporate 10 MW to 40MW of clean power generation systems. The high-tech, clean energy powered enclosed greenhouse and packaging, facilities, are expected to incorporate advanced LED lighting; packaging, washing and cooling facilities; automated watering and fertilizing and harvesting systems; control software, sensors and advanced AI-based solutions; and other novel, leading-edge agritech solutions.
Nature's Miracle Inc. and Lakeshore Acquisition II Corp. ("together with its successors, Lakeshore") (NASDAQ:LBBB) previously announced that they entered into a definitive business combination agreement (the "Merger Agreement"). Upon closing, the combined company is expected to change its name to Nature's Miracle Holding Inc. and its common stock is expected to be traded on the Nasdaq Global Market.