An Update On GreenGro Technologies Inc (OTCMKTS:GRNH)

GreenGro Technologies Inc (OTCMKTS:GRNH) is a name that we at Insider Financial have been covering all year. We said at the beginning of the year that the company could have a big 2016. While the stock is higher than where it started the year, GRNH has lagged behind other big players like Terra Tech Corp (OTCMKTS:TRTC). We think GRNH has some catching up to do and that looks to benefit investors that get in on the coming wave.First up, a little background on the company. GreenGro describes itself as "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 also provides design, construction and maintenance services to large grow and cultivation operations and collectives in the medical and recreational marijuana sectors."Last Tuesday, voters approved recreational marijuana initiatives in California, Massachusetts and Nevada, making California the largest populated state in the nation to legalize the recreational use of marijuana. Considering the size of the state's economy (approximately 12 percent of the U.S.) and the economic impact of the marijuana industry there, the approval of the ballot measure provides a foundation for the Company to now safely build, invest and expand to serve the largest market for cannabis products in the U.S.One of the ways GreenGro looks to capitalize is through its wholly-owned subsidiary CBD Ventures. CBD Ventures will provide turnkey cannabis extraction labs and launch a line of CBD (cannabinoid derived) nutraceutical products in early 2017. These announcements are the first of several strategic advancements the Company has been developing to service the new cannabis industry in California.There's also GreenGro subsidiary Vertical HydroGarden, Anaheim, Calif., which is a premier retailer of year-round hydroponic supplies as well as the Company's Franchise Model for businesses in the field of controlled environment agriculture. Vertical HydroGarden is an industry leader in modular automated hydroponic grow-rooms, portable grow-containers, greenhouses, hydroponic and aquaponics supplies and cultivation consulting services.Last month, GreenGro announced the sale of a $7.5 million BP Gardens Glass Greenhouse Franchise to FoodRaiser Corporation, Dublin, Ohio, a noted trailblazer in health conscious fundraising. FoodRaiser provides schools, clubs, teams, bands, nonprofits, churches and numerous other organizations with organic product based fundraising opportunities. Through the BP Gardens franchise agreement, FoodRaiser has committed to raising the capital to fund the $7.5 million purchase over the next six months. The companies expect to be breaking ground on the Ohio-based facility between the second and third quarters of 2017.Greengro Technologies and FoodRaiser have entered into an agreement for FoodRaiser to purchase a Glass Greenhouse Franchise marketed by Greengro Technologies' subsidiary BP Gardens, Inc., a controlled environment agriculture company that specializes in the use of leading-edge technologies and production methods. The Glass Greenhouse Franchise offering includes a turnkey, two-acre greenhouse facility designed to produce up to nine million heads of lettuce per year.Also last month, GreenGro announced a joint venture agreement with Cannabrands AG, an Austrian-based private equity company specializing in cannabis industry investments. Cannabrands is listed on the Berlin Stock Exchange under ticker symbol: (BERLIN: JPK1:GR). The joint venture is based on the franchising of GreenGro subsidiary Vertical HydroGarden. This partnership enables Cannabrands to establish a working model for franchising Greengro's Vertical Hydrogarden Stores throughout the European region, attracting international exposure through the use of state-of-the-art grow facilities. GRNH CEO James Haas said:

"Together with our storefront Vertical Hydrogarden franchises appearing throughout Europe, this joint venture initiates a project offering 'student immersion' courses for Europeans to take advantage of a campus-like course of study in the U.S. focusing on CEA growing systems and techniques in anticipation of expected worldwide growth of the legalized cannabis market."

Currently trading with a market cap of $12 million, GRNH has overall been rather quiet this year on the news front. However, things have been picking up over the last few months and we expect this trend to continue going forward. There are certainly plenty of tailwinds to push GRNH and the cannabis industry forward. GRNH just needs to capitalize on one of the fastest-growing sectors in the U.S. right now. We will be updating our subscribers as soon as we know more. For the latest updates on GRNH, sign up below!Disclosure: We have no position in GRNH and have not been compensated for this article.