Marijuana manufacturing 2.0 — Fortune Tech

19 Июн 2015 | Author: | No comments yet »
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Marijuana manufacturing 2.0

February 12, 11:28 AM ET

Companies large and are racing to bulk up on tech for a nascent legal market is suddenly, well, ablaze.

By Porter

FORTUNE — Cohen wants his startup  to be the Toyota of marijuana manufacturing. The which opened its doors in Cal. in 2013, has a long way to go. But TRiQ is partnering with and manufacturing companies outside the industry in an attempt to revamp the way is being produced. Toyota is one of our Cohen says. How they car manufacturing systems and totally it — that’s similar to we are trying to do for cannabis now.

up north, just outside of Sam Alawieh, CEO and founder of the pharmaceutical RXNB, has developed closed-door bay technology to replicate the exact of 50 different strains of marijuana in a and sterile manufacturing environment. whose background is in pharmacology, has 32 pending on marijuana-related technologies. have been focused on he says. But the second-wave evolution is predictability and accountability.

The legal marijuana market in the is expected to grow 64% in 2014 to billion, according to ArcView a cannabis industry-focused investment In five years, ArcView that figure will $10.2 billion. Recognizing growing market potential, big and small are scrambling to get ideas But until the federal government which ironically has its own health on marijuana — changes its from a Schedule 1 drug. investors and businesses are loath to involvement in the market.

Still, is exploding in the marijuana industry as a number of states move legalization, with innovations from production equipment to to products created with THC In the areas of manufacturing and software, a tremendous market to be tapped, Justin Hartfield, CEO of and of the private equity group Ocean Capital. which on the cannabis industry.

Realizing the need to streamline and the production process, companies are to figure out how to grow, harvest, and marijuana in the most efficient, and effective way possible. TRiQ has a out on a technology to dry marijuana in a way that specific molds dangerous to patients. They’ve partnered a software company that pharmaceutical management programs, a making Near-Infrared testing and greenhouse engineers from creating large-scale greenhouses are entirely mechanized. It’s all of our vision to get everything into a system design, says

Much of the technology happening in the market involves LED lighting, offers growers a more sophisticated lighting source to indoors. Among the technology is working on are patents that at how to enrich the growth cycle of strains at the cellular level, the potential to create crops bloom continuously, rather seasonally, yielding more per plant.

Alawieh has licensed technology to CEN Biotech, an offshoot of the traded company Creative Nutrition, based just of Detroit. The company broke on a $12 million manufacturing facility in Canada and plans to grow and 1.3 million pounds of medical this year in the Canadian Everything will be completely says Bill Chaaban, CEO of Edge Nutrition, which has its bread and butter selling supplements and energy drinks in the You’re not going to have a guy around with a ponytail and

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For Chaaban breaking into the market was a viable alternative to the particularly as patient accessibility more lax in British Columbia. But companies like Creative Nutrition can’t legally or sell medical marijuana in the that doesn’t mean aren’t preparing for the law to change. CEN also has a subsidiary in Michigan, and is scouting locations for a U.S. facility. We’ve set it up to have the in place for when we do see a change in law, so that everything is he says.

To date, medical marijuana use is in 20 states and the District of Columbia. But Colorado and Washington already burgeoning retail industries, in half the states where can legally be prescribed, there is no market — not yet at least.

are acting cautiously. Technically, the government can raid and confiscate even in states where the has been legalized for medicinal Cohen knows this Before founding TRiQ, he ran Organics Collective in Medocino Cal. which in compliance state laws, grew that supplied the collective’s members until October when federal agents showed up with chainsaws and destroying and confiscating all 99 plants.

newest undertaking lies not in but in helping to address some of the growers face — bottlenecks caused by inadequate methods to keeping marijuana on the shelf year-round to preventing contamination — using

Others in the industry have working at putting an infrastructure in to legitimize and systematize the industry. Rob executive vice president and of Growlife Inc. (PHOT ) a traded company in Carson, that makes and markets with a focus in cannabis, announced an initiative called the Program, in which they fund large-scale growth and technology. The company has bought a 25% in CEN Biotech and is also working on a technology that would kiosks into dispensaries in to digitize and secure patient

But given marijuana’s still newness to the legal marketplace and its black-market status, there’s no large-scale research being on the actual physiological effects strains of cannabis have on the Picture going back a years before we knew we know about medicine Hunt says. There’s a lot of still with cannabis. dispensary owners are really they had better access to the information associated with mapping.

Still, progress is being Watch what happens technology in the next two to three Hunt says. As legislation and as the marketplace becomes less you will see smarter and smarter enter the space.


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