iFresh Inc., Long Island City, N.Y., the Asian American grocery supermarket chain and online grocer, said on Aug. 30 it has entered into an exclusive agency agreement with Florida-based Bit Farm Inc., in which iFresh will be the exclusive distributor of Bit Silica + ® (Bit Silica Plus) fertilizer. iFresh is authorized to market and sell Bit Silica Plus in the United States for the next twelve months, with an option to extend.
Bit Farm focuses in the technology sector, with operations in agriculture (including cannabis) and digital currency mining. Bit Silica Plus is a plant supplement developed to accelerate plant growth and extend harvest time. The company said it corrects common plant deficiencies through its combination of silica, titanium, and calcium. It is produced through technologies, such as small molecule oscillation technology, positive and negative ion exchange technology, negative charge generation technology, and powerless photoelectric oxygen enrichment.
iFresh reports that Mr. Long Deng, iFresh Chairman, has personally invested in Bit Farm and acts as an external consultant.
“We are excited to use our extensive retail network to introduce Bit Silica Plus fertilizer to the market,” said Deng. “Our partnering farm, Dragon Seed LLC, has seen positive results from the plant trials of Bit Silica Plus. The supplement is expected to be introduced to other partnering farms. We believe our customers will be as enthusiastic about Bit Silica Plus as we are, and we look forward to our successful partnership with Bit Farm.”
In addition to its online presence, iFresh also has nine retail supermarkets along the U.S. eastern seaboard, with additional stores in Glen Cove, N.Y., Miami, and Connecticut opening soon. It also has an in-house wholesale business with locations in major U.S. cities.