The SunnySide of Cannabis; Cannabis Growth Boosts Solar Market
POINT ROBERTS, Wash. and DELTA, British Columbia, March 21, 2019 (GLOBE NEWSWIRE) -- Investorideas.com, a leading investor news resource covering hemp and cannabis stocks releases the first article in a two part series on how the growing global cannabis market is boosting ancillary markets, including the solar/cleantech industry.
Recently MarketsInsider noted, “Marijuana appears to be the fastest-growing job sector in the US, adding 64,389 full-time legal cannabis jobs in 2018, according to a new report from the cannabis website Leafly and the consultancy Whitney Economics, representing a 44% increase in total positions, which rose to 211,000.”
“And that's not counting jobs indirectly related to the marijuana industry, like lawyers, accountants, security consultants, media companies, and marketing firms. With those included, the report said, there were 296,000 payrolls in the sector last year.”
One sector getting a major boost from cannabis is solar, due in part to the high energy requirements of indoor grow facilities and the cannabis industry as a whole.
Village Farms International, Inc. (TSX:VFF) (OTCQX:VFFIF) first realized the advantages of solar in 2016, when they, SolarCity and MP2 Energy agreed to build a 2 megawatt solar array adjacent to Village Farm’s 30 acre Permian Basin Division greenhouse in Monahans, Texas. The solar system provides the facility with nearly all of its daytime electricity needs, and will generate more than 82 million kilowatt-hours of power over the life of the system.
SinglePoint (OTC: SING), a technology and investment company with a focus on acquiring companies that will benefit from the injection of growth capital and technology integration in the mobile payments, ancillary cannabis services and blockchain solutions, recently announced signing an asset purchase agreement to acquire Direct Solar and AI Live Transfers. The two companies are providing what has been described as ‘the Lending Tree Model for solar business.’ With the proposal of The Green New Deal, solar is at the forefront of every conversation and will continue to be top of mind as the nation grows through an "energy shift" to renewable resources such as solar.
According to Zion Market Research, the global Solar Panel Market accounted for USD $30.8 Billion in 2016 and is expected to reach USD $57.3 billion by 2022 growing at a CAGR of 10.9% between 2017 and 2022.
Cannabis producer FSD Pharma Inc. (CSE: HUGE) (OTC: FSDDF) and Solarvest BioEnergy Inc., a technology company which has developed an algal-based flexible production platform capable of producing health products, recently announced that they have signed a non-binding letter of intent to enter into a definitive agreement in which Solarvest would conduct research using its algal expression technology to develop pharma-grade cannabinoids. The Parties would make mutual investments into one another and Solarvest would grant FSD Pharma an exclusive license over a subset of the Project Cannabinoids and certain royalty rights over all of the other Project Cannabinoids.
“If successful, this could dramatically disrupt current cannabis cultivation methods for medical purposes. It could reduce the majority of time, space and costs associated with cannabis cultivation for medical purposes, specifically cannabis with GMP Certification. We are very pleased to collaborate with Solarvest on the development of promising alternative methods of cannabinoid production using algal technology” said Zeeshan Saeed, President and Founder of FSD Pharma. “We have been impressed by Solarvest’s management knowledge and operations and believe that future commercial production of cannabinoids using their algal-based production platform combined with our proposed investment in Solarvest have the potential to create significant value for our shareholders.”
Braingrid Limited (CSE:BGRD) (OTC:BGRDF), a global provider of affordable, scalable and easy-to-deploy sensor platforms for precision agriculture is adopting solar in a different way, having announced the first commercial deployment of its innovative, self-powered Sentroller S precision agriculture technology at Canadian licensed producer WeedMD Inc.'s modern greenhouse facility, located in Strathroy, Ontario.
Sentroller S brings all the great features of Braingrid's original Sentroller platform to cultivators including quick installation, online dashboards and reports, as well as email alarm notifications. This allows growers the peace of mind that their cannabis crops are safe and thriving. The self-powered Sentroller S uses a solar panel that enables an even quicker install and limitless possibilities for sensor placement. This true wireless freedom helps cultivators monitor growing conditions where it matters - in and around the plant canopy where power connections are not often available.
With more cultivation and processing facilities going into construction every week, the high energy demands placed on energy grids, or the need for microgrid solutions are expected to have a huge influence on the solar energy sector. Continued in part 2 of this serie,s we look at how not only solar, but many other ancillary sectors are being boosted by rapid growth in the cannabis sector.
For investors following cannabis stocks, Investor Ideas has created a stock directory of publicly traded CSE, TSX, TSXV, OTC, NASDAQ, NYSE, ASX Marijuana/Hemp Stocks
Investorideas.com Disclaimer: Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp. Disclosure: this article featuring SING is a paid for service on Investorideas.com . Learn more about costs and our services https://www.investorideas.com/News-Upload/
Additional info regarding BC Residents and global Investors:: https://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.
Released March 21, 2019