Heliospectra AB, a world leader in intelligent lighting technology for controlled environments horticulture, forecasts that the regulatory changes stemming from the 2016 U.S. elections will push the cannabis industry to adopt more advanced and sustainable cultivation practices and technologies. LED lighting solutions from Heliospectra, which yield energy-efficiency gains of greater than 40 percent, will clearly benefit from such adoption.
The combination of shifting public opinion and successes experienced over the past two years by legal medical and recreational cannabis states resulted in the passage of new cannabis regulations in the 2016 elections. Earlier this month, eight out of nine states with ballot measures voted favorably on cannabis reform. California, Maine, Massachusetts and Nevada join Alaska, Colorado, Oregon and Washington in legalizing marijuana for adult use. Arkansas, Florida and North Dakota join the 26 states and Washington, D.C. that allow for the medical use of marijuana, with Montana voting to loosen restrictions on their existing medical law.
With voter preferences clearly aligned with expanding legal cannabis, there are now more than 68 million Americans living in a state with legal cannabis, representing an increase of 278 percent following the final tally of November 8, 2016 election results.
“As these new states become operational over the coming months, the influx of licensed greenhouses, indoor facilities and regulations will focus the industry on sustainable growing techniques. Heliospectra 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,” said Staffan Hillberg, CEO of Heliospectra. “The LED technology not only reduces energy consumption by up to 50 percent, but also helps stimulate growth characteristics and improve plant quality when compared to those grown under HID lights.”
Given that the November election results expand licensed recreational states from four to nine and licensed medical states from twenty-six to twenty-nine in the burgeoning U.S. cannabis industry, financial and advisory firm Viridian Capital Advisors believes that attention will shift to operating margins, long-term profitability and business efficiencies.
“As downward pricing pressure from the commoditization of cannabis continues, growers are rapidly adopting more advanced cultivation products and processes,” explains Scott Greiper, President of Viridian Capital Advisors. “Technology solutions, including LEDs, enable cultivators to establish competitive advantage and cost-effective operations while boosting yields.”
Heliospectra continues strong sales momentum of its programmable, full-spectrum LED lighting solutions within North American medicinal cannabis communities, bolstered by the unprecedented customer results achieved at The Grove Nevada, Green Leaf in Alaska and other cultivation leaders who maximize revenue and ROI with consistent harvests and quality crops.