Nature's Miracle

Nature's Miracle is an integrated agriculture technology company providing products and services to the controlled environment agriculture (CEA) industry. The company offers a range of hardware solutions, including horticultural lighting, irrigation systems, power distribution systems, and materials and equipment for indoor, greenhouse, hydroponic, and vertical farming operations. Nature's Miracle has developed cost-effective solutions for greenhouse systems, automated vertical farming, and modular container grow systems.

Through its two wholly-owned subsidiaries, Visiontech Group, Inc. and Hydroman, Inc., Nature's Miracle supplies grow lights and other hydroponic products to hundreds of indoor growers across North America. The company has established its manufacturing footprint in North America with a grow-light assembly plant in Manitoba, Canada, and plans to set up additional manufacturing/assembly facilities in the region.

Nature's Miracle has a robust pipeline to build commercial-scale greenhouses in the US and Canada to meet the growing demand for fresh and locally grown produce. The company offers turnkey solutions to its operating partners, providing design, construction, and hardware installation services.

Key customers and partnerships

In March 2024, Nature's Miracle announced an MoU with Future Tech Inc. (FTC), an Ohio-based financial technology, data systems, and energy integrator company, aiming to integrate vertical farming facilities with AI computing data centers, allowing Nature's Miracle to tap into the indoor growing markets in Ohio, Illinois, and Michigan.

On April 25, 2024, the company announced the successful manufacturing and shipment of its first two customized container farms in its proprietary "MiracleTainer" series to Growterra, LLC, an Ohio-based vertical farming company.

Funding and financials

In July 2024, The company has secured a USD 2.4 million purchase order for its Efinity LED grow lights from a leading California-based indoor grower. During the same time period, The company has secured a USD 5.2 million sales order agreement with What Rebates LLC, which focuses on utility rebates for the agricultural sector. The company has also raised USD 1.2 million through a post-IPO public equity offering involving 5,000,000 shares at a price of USD 0.24 per share in July 2024.

In March 2024, Nature's Miracle completed a business combination with Lakeshore Acquisition II Corp., a special purpose acquisition company (SPAC), marking its debut as a publicly traded company on the Nasdaq Global Market under the ticker symbol NMHI. In April 2024, the company acquired Agrify, a producer of proprietary growing solutions for the indoor farming industry for ~USD 6.35 million via an issuance of common stocks of Nature's Miracle to Agrify shareholders, which then led to a termination in May 2024, due to unfavorable market conditions.