GrowCo, Inc. announced that it has signed a binding agreement to provide a 6 acre state of the art greenhouse to an existing greenhouse grower in Maryland who intends to file for a Maryland medical cannabis license.
Under the terms of the agreement, GrowCo will build up to six acres of greenhouse and provide administrative services to the grower, if and when, the grower obtains a cannabis license in Maryland. Additionally, as part of the deal, the grower will be given a region consisting of Delaware, New Jersey, New York, Pennsylvania, Virginia and West Virginia to manage and develop.
John McKowen, CEO of GrowCo, stated, "GrowCo provides cannabis growers with the infrastructure and services to be the lowest cost, highest quality natural grower of cannabis in their state without GrowCo 'touching the plant.' We adjust the technological makeup of each greenhouse so that it's perfectly suited to deal with the state's climate. By organizing our greenhouse expansion into regions of the United States we can leverage our skillset with local greenhouse entrepreneurs to meet the needs of cannabis growers in states adopting cannabis laws."
GrowCo will bring online its first greenhouse in Pueblo County, Colorado in the next few days. Growers leasing a GrowCo greenhouse can expect to grow a more natural premium product utilizing the sun's energy and efficient water-based cooling systems rather than relying solely on expensive artificial lights and air conditioning systems, thereby substantially reducing the costs of production. GrowCo expects production in its greenhouses to be at least double, and costs to be one-half per square foot, of the costs experienced in indoor artificial growing environments.