ANAHEIM, Calif., Sept. 13, 2017 (GLOBE NEWSWIRE) -- GreenGro Technologies, Inc. (OTC:GRNH), a world-class provider of eco-friendly green technologies, today announced today a strategic shift in its business strategy as it enters into the cannabis breeding and cloning industry. This move is reflected by today’s announcement that GreenGro Technologies has entered into an agreement with KGBI Colorado, a leading retailer and cultivator of medical marijuana, to build and operate a state-of-the-art medical marijuana breeding and cloning laboratory to be in Denver, Colorado.
GreenGro’ s Potential Success in Cannabis Breeding and Cloning Business to be Secured by Proprietary Technology and World-Leading Geneticists
The facility’s competitive advantages will include, full automation, temperature control and, most importantly, the implementation of GreenGro’ s proprietary greenhouse technologies, which should enable GreenGro Technologies to rapidly capture market share of what could be the cannabis industry’s most lucrative and fastest growing sector: the breeding and cloning of medical marijuana. In an effort to even further solidify GreenGro’ s position in this growth sector, the Company’s breeding and cloning business will be launched and expanded by Dr. Maqsood Rehman, who has over 12 years of extensive plant breeding and genetics experience in his prior roles.
Under the terms of this initial agreement, Geno breeding, a subsidiary of GreenGro Technologies, has partnered with KGBI Colorado to discover and introduce a variety of the most sought-after cannabis strains through modern breeding technologies. This agreement includes the use of conventional and modern breeding techniques to develop high quality cannabis strains for medical use. A group of geneticists, with specialized scientific backgrounds in plant breeding, led by Dr. Rehman will focus on developing cannabis strains that have the optimal levels of THC, CBD, and terpenes.
GreenGro to Embark on New Era of Growth, Expansion and Profitability
“Our entry into the business of cloning and breeding of cannabis is a historic day for our company,” said James Haas, Chairman and CEO of GreenGro Technologies, Inc. “Everyone in our organization has played a critical role in this journey to where we stand today, and it is only through the hard work and dedication of our employees as well as the support of our loyal shareholders, that we have been able to reach this inflection point. Right out of the gates, GreenGro will be able to rapidly capture a large and growing percentage of the market share due to two key competitive advantages, GreenGro’ s propreitory and proven gene breeding techniques coupled with the experience and knowhow of one of the world’s most successful geneticists. We strongly believe this strategic shift in our business strategy will modernize our existing efforts to produce industry leading products for the medicinal cannabis market. With a far larger total addressable market, strong and consistent margins and significant barriers to entry, GreenGro Technologies is about to embark on a quest that should generate industry-leading revenue and earnings growth resulting in the enhancement of shareholder value,” concluded Mr. Haas.
The Geno breeding/ KGBI Colorado facility will focus on hybridizing the most sought-after strains based on our research and data points that will identify the medicinal value of the cannabis strains being utilized to treat specific ailments in patients.
About GreenGro Technologies, Inc.
Greengro Technologies Inc. (Ticker: GRNH) is a national leader in both indoor and outdoor aquaponic and hydroponic systems and grow rooms, with specific domain expertise in agricultural science systems serving both the consumer and commercial farming markets. The company's customers include restaurants, community gardens, and small- and large-scale commercial clients. For more up to date info like our Facebook page at https://www.facebook.com/GreengroTechnologiesInc?ref=hl.
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