GreenGro Technologies Inc (OTCMKTS:GRNH) has traded fairly flat so far this year. The stock has not made the big moves like it did in 2016 when we saw the stock run from $.0171 to just under $.16 a share. With the stock trading on either side of the $.10 level, we’re taking another look at GRNH.
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 week, the company signed a definitive agreement on a ten-acre, $25 million Greengro hydroponic indoor farm project with Global Renewable Resources LLC, a new startup specializing in sustainable technologies and renewable energy. The agreement calls for GRR to purchase a Glass Greenhouse Franchise marketed by Greengro subsidiary BP Gardens, Inc. The project will utilize advanced technology and production methods from Greengro’s newly acquired subsidiary Biodynamics. The GRR Glass Greenhouse Franchise includes a turnkey greenhouse facility powered by renewable energy and designed to annually produce millions of pounds of a large variety of organic, pesticide-free hydroponically grown vegetables and fruits.
Last month, GRNH completed the acquisition of a 55% majority interest in Biodynamics LLC. Biodynamics provides high-tech, hydroponic vertical farms. As a result of the merger, Biodynamics CEO Timothy Madden became the new COO of GreenGro Technologies. He will be managing the ten-acre, $25 million Greengro hydroponic indoor farm project with Global Renewable Resources, LLC along with other Greengro mergers and acquisitions currently in progress. CEO James Haas said:
“By combining Greengro’s business operations with Biodynamics’ superior indoor vertical farming technology, Greengro will be able to offer one of the highest producing and most energy-efficient turnkey systems on the market, at a competitive price. Our research shows that Biodynamics’ ‘smart’ vertical farming technology is arguably among the world’s best, and we expect to make strong inroads into new markets as a result of this deal.”
Earlier this month, GRNH launched GenoBreeding that will look to bring new cannabis varieties to market through new plant breeding technologies. This initiative from Greengro is in keeping with the cannabis industry’s increasing reliance on genetics – heredity and the variation of inherited characteristic in plants – to help growers create better, more powerful and sometimes personalized commercial cannabis strains that share desirable inherited characteristics. Greengro’s GenoBreeding group is focused on developing breeding tools such as molecular markers to enable breeding decisions and processes to achieve top-tier plant performance in a sustainable manner.
Last November, GRNH unveiled a new 5k sq ft fully equipped industrial glass greenhouses for the produce and cannabis markets. Measuring 19 ft. in height, 30 ft. in width and 170 ft. in length, these high-capacity greenhouses provide 5,037 square feet of technologically advanced climate controlled cultivation and harvesting space. The structure of a Greengro Technologies greenhouse is built with nearly two-inch tempered glass and erected with a customized aluminum frame. The turnkey operational setup consists of a Cooling Pad and Fan System designed to regulate temperatures through an efficient circulation system. The ventilation assemblage is driven by a motorized and galvanized hot-dipped rack-and-pinion arrangement, optimizing stability. CEO James Haas said:
“We are very pleased to be bringing this immense, advanced greenhouse offering to the marketplace. Our continuing discovery of technologies suited for lucrative new fields of trade will broaden our footprint in both the consumer and commercial markets alike, strengthening our ability to further capitalize on our unique operating advantages, particularly as local demand escalates with the opening of the new recreational cannabis market while other areas throughout the country embrace medical marijuana provisions.”
Currently trading with a market cap of $27 million, GRNH has been more active on the news front, but that has not moved the needle on the stock price in 2017. Once some of its latest deals translates into higher revenues, we believe GRNH’s share price will start moving again. 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.