Greengro Technologies Inc (OTCMKTS:GRNH) and its subsidiary Biodynamics, LLC, signed a $17 million purchase order with GH Farms Group. The agreement will see Biodynamics build a large solar glass hydroponic greenhouse for the Ohio-based agriculture company. The news has resonated and GRNH’s stock has seen a slight bump today. However, yet again, this deal is not tied to cannabis, so the market is only slightly interested.
GRNH has a history of crazy rips in price especially in the early years of the cannabis rush. The company is a holding company for a number of divisions and with multiple revenue buckets sometimes news can come out of nowhere and send the stock soaring. Just this year, the company has acquired Vertical Hydrogardens and Greensticks. They are very active in the cannabis space and while the stock has been on a downward slope this year, the company has dynamic potential because of its niche subsidiaries.
Greengro Technologies Inc (OTCMKTS:GRNH) new deal is fairly simple. Using Biodynamics’ fully automated off-grid greenhouse technology, GH Farms will cultivate vegetables hydroponically using Biodynamics’ proprietary controlled environment agriculture (CEA) growing systems and techniques.
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Here are quotes spotlighted from the press:
“We welcome this opportunity to show that our greenhouses are the market’s best – climate-controlled by a positive pressure HVAC system with water and nutrients managed by an IBM Watson AI computer-automated irrigation system,” noted Trisha Madden, CEO of Biodynamics.
“We are very pleased to be moving forward with the vegetable-growing sector of our operations,” said Greengro Technologies CEO James Haas. “Our indoor growing technologies have enormous potential across many types of agriculture applications and we expect to become a major competitor in the space.”
The company also announced progress toward its deal with Global Renewable Resources, also in Ohio, toward developing a community greenhouse. The City of Warren, Ohio’s Mayor William D. Franklin recently committed the needed land to develop the project. “The backers of this project are not shy about their intentions to confront the disturbing trend of population decline in this region,” said Franklin.
“With careful attention paid to the realities of our current commercial environment, this project helps to inject new opportunities in the community because it has the capability to create exceptional produce and services for a growing market. I support this development and look forward to working with GRR to realize the full potential of this project through land assembly and other supports.”
Greengro Technologies Inc (OTCMKTS:GRNH) trumpets itself as a company that designs, manufactures, and markets green eco-friendly vertical cultivation systems in the United States. It offers flux lighting products, table stands, nutrient mixers, home units, cloning systems, and tea brewers, as well as provides consulting and management services to its clients.
Furthermore, GRNH also markets lights, fans, hoods, automatic watering systems, and nutrients under the GreenGro brand. The company offers its products to consumers and industrial cultivators through its Website. It has a strategic alliance with Solaris Power Cells. The company, formerly known as Authoriszor, Inc., was founded in the 1996 and is based in Westminster, California.
According to company materials, “Greengro Technologies is a world class provider of eco-friendly green technologies with specific domain expertise in indoor and outdoor agricultural science systems serving both the consumer and commercial farming markets. It brings together community and commerce through the growth and distribution of healthy, nutritious foods and vital medicines backed by science and technology.
Customers include restaurants, community gardens, small and large scale commercial clients. Greengro Technologies Inc also provides design, construction and maintenance services to large grow and cultivation operations and collectives in the medical and recreational marijuana sectors.”
Greengro Technologies Inc (OTCMKTS:GRNH) is a company that has a lot going on, but we are looking for more top-line growth. In addition, the market is looking for serious growth in its cannabis-related ventures. The company clearly has some potential and does understand the connected sectors, but if they can materialize to serious revenues is what we are waiting to see. GRNH currently holds a $15.86 million market cap and 336 million shares outstanding. For continuing coverage on shares of $GRNH stock, as well as our other breakout stock picks, sign up for our free newsletter today and get our next hot stock pick!