RotoGro nabs deposit from Wolf Island to supply tech for new cannabis cultivation facility
Health & Biotech
Health & Biotech
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RotoGro has received CA$213,000 as a non-refundable deposit from Wolf Island Cannabis Inc for its patented and proprietary cannabis cultivation technology.
The deposit is part of a CA$380,000 purchase and sale agreement for 20 RotoGro rotational garden systems and one plant nutrient management system which will be installed with the company’s proprietary iGrow software system – which automates the entire cannabis cultivation cycles.
Plus, RotoGro (ASX:RGI) also agreed to provide onsite assembly, installation, testing, commissioning, training, and IP support which is expected to be completed in Q4.
Wolf Island is constructing a state-of-the-art cannabis cultivation facility in Ontario, Canada and RotoGro is pretty confident it will bolster the company’s presence in North America.
“Wolf Island’s decision to proceed with RotoGro’s technology, after considering other technologies, is a significant accomplishment for the company,” CEO Michael Di Tommaso said.
“The Wolf Island facility provides RotoGro with an opportunity to showcase our proprietary technology in Ontario, Canada, enhancing our presence in Canada’s lawful cannabis market.”
“As the legalisation of cannabis progresses throughout the U.S. and other nations, RotoGro’s technology will be recognised as the optimal system to cultivate high-quality cannabis, maximising yield per square metre, while significantly reducing operational expenditures.”
The core of RotoGro’s technology is its patented rotational garden systems, which provide optimised yields per square meter and significantly lower operating costs when compared to other indoor vertical farming technologies.
Essentially, the company’s software will automate and optimise the LED lighting spectrums within each RotoGro garden, pre-program the fluctuating environmental parameters (temperature, humidification/dehumidification, and CO2 delivery controls).
It will also connect the RotoGro gardens to the RotoGro fertigation system to automate the entire plant feeding schedules, from nutrient mixing to delivery mechanisms, and to the feeding process, throughout each cultivation cycle, facility wide.