Cannabis legalization is spreading across the country at breakneck speed. With the passage of the Farm Bill, hemp products can now be sold in all 50 states. In New Mexico, a unique and highly profitable high-tech cannabis manufacturing and research facility will be built. Bright Green Corporation will construct a state-of-the-art facility that will be licensed to grow, distribute, and sell medical cannabis. The company will then partner with the New Mexico Department of Health to research and develop new cannabis treatments, which could lead to even more cannabis-based products.
Cannabis is now legal in 30 states, and medical use is allowed in another 20. With the green light to grow in more states, the industry is expected to double in value by 2020. While many established companies are getting in on the action, a new crop of startups are using tech to revolutionize the industry.
Not since the end of Prohibition in 1933 have people been so excited about a new high-tech “green” industry. Bright Green Corporation (OTCQB: BRTG) announced its intention to build a $300 million cannabis manufacturing and research facility in New Mexico, and everyone’s ears perked up. This was a welcome development, as Bright Green’s goal is to create a processing plant that adheres to all FDA and NIDA guidelines, with plans to begin distribution of its products by January 2020.
Santa Fe, N.M., May 24-May 21 (GLOBE NEWSWIRE) — Rural New Mexico will soon have one of the largest cannabis production and research facilities in the country, New Mexico Governor Michel Lujan Grisham and Bright Green Corp. announced Monday. A $300 million investment in a state-of-the-art agricultural ecosystem on land owned by the company in Grants, New Mexico, that will use the latest technology and automation to ensure consistent, clean production of high-quality cannabis to advance medical research. The project is expected to create more than 170 construction jobs and 200 research and agricultural jobs. I couldn’t be more excited about the development of another world-class research center here in New Mexico, said Governor Lujan Grisham. As a state, New Mexico has a legacy of leadership in research and science. And Bright Green is an interesting partner that I’m glad I decided to make a difference in our state. We have the talent, manpower and innovation to make this new industry a complete success. Investments like this make me even more optimistic. Governor Lujan Grisham, the New Mexico federal delegation, and the local and tribal communities of Sibola County have worked with us from the beginning to create an environment conducive to innovation and research, and we are very pleased to finally share the news of this investment with the rest of New Mexico, said Terry Rafih, President of Bright Green. With the spirit of federal, state and corporate collaboration we have found in New Mexico, we will see New Mexico and Bright Green Corporation become leaders in this emerging field of medical research, said Lynn Stockwell, principal owner and majority shareholder of Bright Green Corporation. Grants-based Bright Green (BGC) has received approval from the Drug Enforcement Administration to allow the production, storage, packaging and distribution of marijuana for medical research in accordance with the new regulations, as well as other applicable regulatory requirements and relevant laws. Earlier this week, BGC signed a memorandum of understanding with the Drug Enforcement Administration. While much has been written about the cannabis market, we believe the real contribution of cannabis lies in its medical applications, said Ed Robinson, CEO of Bright Green Corporation. Our vision is to improve the quality of life for a large population through the possibilities offered by the medical application of herbal therapies, including cannabis products. To obtain a DEA license, applicants must demonstrate that they have met several requirements. This includes having the necessary authority at the state level, documenting that their clients are authorized to conduct searches, and taking reasonable precautions to prevent abuse. Compliance with the law is the foundation of our company’s ethics, and we will comply with all federal, state, and local laws to provide cannabis for government-sanctioned research. Bright Green will provide stable, pure, organic cannabis and high-quality cannabis extracts that ensure a safe supply for cannabis researchers across the country, Robinson said. This result could not have been achieved without the proven efforts of the DEA and the State of New Mexico. For more information: brightgreen.us Bright Green Corporation, a manufacturer of cannabis-based pharmaceuticals, has announced plans for a $300 million facility in New Mexico. The firm says that the move represents an important step for the company as it looks to become a “global leader” in the cannabis-based pharmaceutical industry. Bright Green will be working in partnership with New Mexico State University to develop a “cutting-edge” manufacturing facility that will produce both pharmaceuticals and recreational cannabis products.. Read more about green growth brands news today and let us know what you think.
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