Great news out of Australia for Heliospectra today. As the Financial Times reports, Australia has decided to legalise medicinal cannabis, which opens up yet another new market for Heliospectra (HLSPY).
Australia is seeking to legalize the cultivation of medicinal cannabis to supply local patients and create an export industry to tap into booming global demand for drugs to treat chronic pain. It follows similar moves by authorities in Canada and at least 23 US states, four of which have also legalised recreational use, where legal sales of medical and recreational marijuana were estimated at US$2.7bn in 2014.
Australia is already one of the world’s biggest exporters of the raw ingredients for painkillers such as solpadeine, or co-codamol, which is grown in poppy plants on the remote island of Tasmania. The country is now attracting interest from foreign companies seeking to produce medicinal cannabis while also raising funds on the local stock market, where investors maintain an appetite for high-risk ventures.
Heliospectra specializes in intelligent lighting technology for plant research and greenhouse cultivation. The Company’s lighting system provides an effective and durable technology for cultivating greenhouse and indoor plants by combining several different groups of versatile light emitting diodes (LEDs) with optics, remote sensing techniques, and a robust heat dissipation solution. This proprietary setup gives growers the ability to control the intensity and wavelengths of the light emitted, creating a spectrum specifically adjusted to different plant species and growth stages to better facilitate photosynthesis. The complete, highly-engineered lamp produces crops that look better, taste better, and have a longer shelf-life than those grown under HID lamps. The technology not only reduces energy consumption by up to 50%, but also helps stimulate growth characteristics and improve plant quality. Other benefits include reduced light pollution, lower mercury use due to the avoidance of traditional HID/HPS bulbs, and less HVAC investment and monthly expense requirements.