Goose Island UK and AeroFarms Partner to Launch Hail Hydro, a Session IPA, to Advance Sustainable Brewing

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NEWARK, New Jersey – (BUSINESS WIRE) – Goose Island UK and AeroFarms®, a certified B corporation and leader in indoor vertical farming, announced today Hail hydro – A brand new session of IPA from groundbreaking hydroponic hops grown indoors by AeroFarms, which is focused on improving agriculture around the world and helping to address some of our most pressing challenges in the agriculture supply chain.

Hail hydro is the newest beer in Goose Island’s Impossible IPA range – a new range of beers that includes the creation of new recipes using innovative hops and techniques. The 4.7% cloudy IPA uses hydroponic hops grown at AeroFarms’ global headquarters in Newark, New Jersey, USA, where AeroFarms has 100,000 square feet of indoor vertical farming for commercial and R&D production using methods which can bring in up to 390 times higher productivity per year with up to 95% less water consumption and without pesticides compared to traditional field agriculture.

The Hydro-Cascade hops are submerged above the ground in a growth medium that supports and nourishes the plant’s roots with nutrient-rich water through AeroFarms’ Indoor Vertical Farming technology platform. This method makes it possible to grow hops all over the world at any time of the year with constant results and to achieve higher yields with fewer resources. With growing seasons and outdoor climatic conditions changing dramatically right now, hydroponic hops grown on AeroFarms’ indoor vertical farms for increased resilience and flavor is undoubtedly the future and a game changer in the beer world.

In terms of flavor notes, the beer offers a refreshing citrus punch with hints of lemon and lime and hits the right notes when it comes to session IPAs, with a delicious 4.7% vol. Fresh and tangy, it tastes as bright as the future of agriculture. Consumers can scan a QR code on the can packaging that will take them to a factory tour of AeroFarms’ unique, growing indoor vertical technology.

Hail hydro is now available in limited numbers, only on the Goose Island UK webstore. www.gooseislandshop.com

“Hydroponically grown hops is an exciting prospect and the potential innovation opportunities and sustainable benefits are exciting for the craft community,” said Joe Bevan Innovation Brewer Goose Island UK. “Brewing with the cascade was a new experience for us! We saw tangy lime, soft lemon and a subtle resinousness of the hydroponically grown hops. ”

“AeroFarms is proud to have worked with Goose Island UK and the wider Anheuser-Busch InBev team for more than a year to demonstrate our unique growth capabilities,” commented David Rosenberg, Co-Founder and CEO of AeroFarms. “We have succeeded in both growing mature hops and propagating high-quality rhizomes in order to improve field production of hops. The hops that are used in Hail hydro were grown in our fully controlled environment, hydroponically pesticide free, with blue and white light instead of sunlight to grow the best plants possible. It was an incredible partnership that brought their many years of expertise in quality brewing to our research collaboration on commercialization. Together, the AeroFarms R&D group and Goose Island UK are demonstrating the promise of a new premium product that combines master brews with premium hops that can be grown indoors all year round. ”

About Goose Island

Founded in Chicago in 1988, Goose Island is known for award-winning, expertly crafted beers. From flagship breweries like the award-winning Goose IPA to Bourbon County Brand Stout, Goose Island strives to brew beers worthy of conversation, debate and celebration – we don’t have to be the only beer you drink, we just want that Best beer you drink.

About AeroFarms

Since 2004, AeroFarms has been pioneering vertical indoor farming and advocating transformative innovations for agriculture. On a mission to grow the best possible crops for the benefit of mankind, AeroFarms is a Certified B Corporation with global headquarters in Newark, New Jersey. AeroFarms’ patented, award-winning Indoor Vertical Farming technology has been recognized by Fast Company as one of the most innovative companies in the world and one of TIME’s best inventions in the food sector for two years in a row, with precision, food safety and productivity with up to 95% less water consumption and without pesticides compared to traditional field agriculture. AeroFarms enables safe growth of local production all year round with Vertical farming for sophisticated tastes. In addition, AeroFarms has grown over 550 strains through its proprietary growth technology platform, introduced rapid breeding innovations, and developed multi-year strategic partnerships ranging from government to large Fortune 500 companies to uniquely meet the needs of the agricultural supply chain . Further information can be found at: https://aerofarms.com/.

On March 26, 2021, AeroFarms entered a definitive business combination agreement with Spring Valley Acquisition Corp. (Nasdaq: SV) known. Upon completion of the business combination, AeroFarms will be publicly traded on the Nasdaq under the new ticker symbol “ARFM”. Further information on the transaction can be found here: https://aerofarms.com/investors/.

No offer or solicitation

This press release does not constitute an offer to sell, a solicitation of an offer to buy, or a solicitation of a vote or approval in any jurisdiction in connection with any proposed merger between Spring Valley and AeroFarms or any related transaction, nor may there be a sale, an issue or transfer of securities in any jurisdiction in or to any person to whom any such offer, solicitation or sale may be unlawful. Any offer of securities or solicitation of a vote in relation to the proposed transaction will only be made by means of a proxy statement / prospectus that complies with the applicable rules and regulations pursuant to the Securities Act of 1933, as amended (the “Securities Act “) And the Securities Exchange Act of 1934, as amended or subject to an exception to the Securities Act or in a transaction not subject to the registration requirements of the Securities Act.

Forward-Looking Statements

Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally denoted by words such as “believe,” “might,” “Could”, “will”, “estimate”, “continue”, “consider”, “foresee”, “intend”, “expect”, “should”, “would”, “could”, “plan”, “predict” “,“ Project, ”“ potentially, ”“ appear, ”“ aim, ”“ future, ”“ outlook, ”and similar expressions that predict or indicate future events or trends, or that are not statements about historical matters. All statements contained in this press release, other than statements of current or historical fact, including those regarding Spring Valley’s proposed acquisition of AeroFarms, are forward-looking statements. These statements are based on various assumptions, whether or not mentioned in this press release, and the current expectations of the respective management of AeroFarms and Spring Valley, and are not predictions of actual performance. These forward-looking statements are presented for illustrative purposes only and are not intended and should not be relied on as a guarantee, assurance, prediction or definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from the assumptions. Many actual events and circumstances are beyond the control of AeroFarms and Spring Valley. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and international business, market, financial, political and legal conditions; the inability of the parties to complete the Proposed Transaction successfully or on time, including the risk that regulatory approvals will not be obtained, will be delayed, or be subject to unforeseen conditions that could adversely affect the combined company or the anticipated benefits of the Proposed Transaction, or that the Spring Valley or AeroFarms stockholder approval will not be obtained; Failure to realize the anticipated benefits of the proposed transaction; Risks related to AeroFarms’ expansion of business and the timing of anticipated business milestones; the impact of competition on AeroFarms’ business; the ability of Spring Valley or AeroFarms to issue or obtain debt financing in connection with the proposed transaction or in the future, and the factors discussed in Spring Valley’s Annual Report on Form 10-K, Quarterly Report on Form 10 -Q, final prospectus dated November 25, 2020 and final proxy statement / prospectus dated July 26, 2021 under the heading “Risk Factors” and other documents Spring Valley has filed or will file with the SEC. Should any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied in these forward-looking statements. Additional risks may exist, of which neither Spring Valley nor AeroFarms are currently aware or which Spring Valley or AeroFarms currently consider to be immaterial and which could also cause actual results to differ from those contained in the forward-looking statements. Additionally, forward-looking statements reflect the expectations, plans or projections of future events and views of Spring Valley and AeroFarms as of the date of this press release. Spring Valley and AeroFarms assume that subsequent events and developments will lead to a change in the assessments of Spring Valley and AeroFarms. Although Spring Valley and AeroFarms may update these forward-looking statements at some point in the future, Spring Valley and AeroFarms expressly disclaim any obligation to do so. These forward-looking statements should not be taken as representing Spring Valley and AeroFarms’ views as of the date of this press release. Accordingly, you should not place undue reliance on any forward-looking statements.


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