Indoor cultivation is taking root across the country, with a trend in large scale facilities up to 200,000 square feet, and traditional farmers looking to ensure there’s space for small scale farms as more states legalize cannabis.
For those interested in cultivation, an all-in-one service like GrowLife Inc. can create a seamless process for securing world-class hydroponic equipment, lighting, nutrients, media, and other cultivation supplies. Based in Kirkland, Washington, GrowLife Inc. helps make grow operations a smooth process, and even offers a subscription service for supplies.
GrowLife Inc. intends to save clients money by enabling them to create an efficient indoor grow operation. “Indoor grow enables clients to replicate nature in a manageable manner that utilizes a fraction of land and water while offering 2 to 5 times the yield cycles of outdoor,” according to MMJReporter.
GrowLife Inc.’s five pillar business strategy includes:
- GrowLife Hydroponics, a distribution business unit built around the company’s direct sales force.
- GrowLife Products, a division featuring GrowLife-branded supplies, financial services, packaging, and supplies to support indoor growing operations.
- GrowLife Eco e-Logistics, an online marketing and distribution channel.
- GrowLife Licensing, a retail licensing arm that has already established GrowLife Retail License retailers in Canada and the United States.
- GrowLife Cube Subscription, a consumer-targeted indoor “grow it yourself” subscription package..
The big news for GrowLife Inc. is that the company recently announced that it has completed the acquisition of 51 percent of assets from a tile flooring business.
“The assets include intellectual property rights and FreeFit® patents, and the copyrights and trademarks associated with the technology. In addition to the asset acquisition, renowned chemical engineer and inventor of a patent pending luminous tile technology David Reichwein will join GrowLife as Vice President of Research and Development (R&D),” according to a release.
GrowLife CEO Marco Hegyi said “This asset purchase provides us with new ways to engage our customers with state-of-the art environmentally friendly building materials that we believe can help indoor cultivators lower the production cost of growing crops indoors.”
New VP David Reichwein said “I truly believe in the vision of GrowLife and am looking forward to helping the Company achieve even greater success in this rapidly evolving indoor cultivation industry with my background and expertise in complex electrical systems engineering that improves building operating efficiencies, resulting in lower operating costs.”
The company secured additional funding from private investment firm Chicago Venture Partners, a leading provider of capital to emerging and growth-stage small cap companies, with a funding agreement closed August 11, 2017.
GrowLife, Inc. sought additional funding as a part of its 2017/2018 expansion plan, which includes bolstering the company’s five pillar business strategy to capture the rapidly growing organics, greens, and plant-based medicine industries.
Growth strategy includes the establishment of multiple subsidiary entities, hiring of new executive and sales talent positions, pursuing asset purchases, and rolling out new and innovative product offerings, according to a release.
“Our most recent financing agreement enables us to continue our robust expansion and differentiation plans and achieve our mission of helping customers be successful,” said Hegyi. “Our focus on bringing operational efficiencies to this market, and lowering production costs for our customers while utilizing environmentally sustainable practices will further position us as a leader in the space.”