Nature's Miracle Holding Inc. (NASDAQ: NMHI) ("Nature's Miracle" or the "Company"), a leader in vertical farming technology and infrastructure, announced that its 100% owned subsidiary Hydroman, Inc. will become Hydroman Electric Corporation ("Hydroman Electric"). In conjunction with this update, Hydroman Electric will launch a new business and strategic pivot focusing on marketing and distribution of electric-powered agriculture vehicles and commercial vehicles throughout the United States and South America. This development is accretive to the Company's previously announced agreement with Robostreet in which Nature's Miracle will order approximately 150 electric trucks and broader initiative to diversify its business in the electrification economy.
James Li, Chairman and CEO of Nature's Miracle, commented, "I am pleased to introduce Hydroman Electric's launch of our new business line to market and distribute EVs to the commercial and agriculture markets. We are encouraged that our business is adaptable to enter new business verticals that diversify our company. Our recent agreement with Robostreet expands our participation in the electrification economy as we cultivate a position in new revenue streams to increase value for all stakeholders."
