Jacob Redmond
Well-Known Member
During the past two decades, the Ambient Water Corp. has used its clean-water technology in everything from fracking operations in shale-rich states to household drinking supplies in the Middle East. Now, the company is expanding its reach to a new but rapidly growing sector: legal marijuana.
CEO Keith White said the firm based in Spokane, Washington, is developing highly efficient greenhouses that will enable cannabis growers to produce bigger, better plants. Ambient Water's core technology -- capturing moisture in the air and turning it into purified water -- will be used to continuously replenish crops and adjust humidity levels. Cooling, heating and ventilation systems will keep the leafy greens at ideal temperatures while preventing harmful mildew and disease.
"As the industry becomes more commercialized over the next several years, growers are looking to get out of the typical warehouse-grow operations," White said by phone. For technology companies and their investors, the migration from dank basements to industrialized greenhouses offers an enticing way to capitalize on the legal pot boom, he said.
The U.S. market for legal cannabis jumped 74 percent in 2014 year over year, to $2.7 billion from $1.5 billion, according to the ArcView Group, a cannabis-industry research firm in Oakland, California. Analysts project the market could grow more than fourfold to $11 billion in the next five years, assuming more states soften their stance on marijuana.
At present, recreational-marijuana sales are legal in only three states: Alaska, Colorado and Washington. However, Oregon will soon join them, with voters passing a legalization referendum last year that will allow recreational sales July 1. Twenty-three states have legalized medical weed, while handfuls of municipalities have decriminalized the possession of pot. In the District of Columbia, recreational-marijuana use is legal, but sales are still banned. A North Carolina lawmaker recently proposed a bill to legalize medical marijuana in that state.
News Moderator: Jacob Redmond 420 MAGAZINE ®
Full Article: Legal Marijuana Growers Are Moving From Warehouse To Greenhouse, And Technology Firms Are Capitalizing On The Shift
Author: Maria Gallucci
Contact: m.gallucci@ibtimes.com
Photo Credit: Eric Risberg
Website: International Business Times - International Business News, Financial News, Market News, Politics, Forex, Commodities
CEO Keith White said the firm based in Spokane, Washington, is developing highly efficient greenhouses that will enable cannabis growers to produce bigger, better plants. Ambient Water's core technology -- capturing moisture in the air and turning it into purified water -- will be used to continuously replenish crops and adjust humidity levels. Cooling, heating and ventilation systems will keep the leafy greens at ideal temperatures while preventing harmful mildew and disease.
"As the industry becomes more commercialized over the next several years, growers are looking to get out of the typical warehouse-grow operations," White said by phone. For technology companies and their investors, the migration from dank basements to industrialized greenhouses offers an enticing way to capitalize on the legal pot boom, he said.
The U.S. market for legal cannabis jumped 74 percent in 2014 year over year, to $2.7 billion from $1.5 billion, according to the ArcView Group, a cannabis-industry research firm in Oakland, California. Analysts project the market could grow more than fourfold to $11 billion in the next five years, assuming more states soften their stance on marijuana.
At present, recreational-marijuana sales are legal in only three states: Alaska, Colorado and Washington. However, Oregon will soon join them, with voters passing a legalization referendum last year that will allow recreational sales July 1. Twenty-three states have legalized medical weed, while handfuls of municipalities have decriminalized the possession of pot. In the District of Columbia, recreational-marijuana use is legal, but sales are still banned. A North Carolina lawmaker recently proposed a bill to legalize medical marijuana in that state.
News Moderator: Jacob Redmond 420 MAGAZINE ®
Full Article: Legal Marijuana Growers Are Moving From Warehouse To Greenhouse, And Technology Firms Are Capitalizing On The Shift
Author: Maria Gallucci
Contact: m.gallucci@ibtimes.com
Photo Credit: Eric Risberg
Website: International Business Times - International Business News, Financial News, Market News, Politics, Forex, Commodities
