Big-money investors are starting to see the upside in going “green.”
Following Microsoft’s recent partnership with Kind Financial, Google may want to go green as well. John Lord, CEO of LivWell, a large vertically-integrated producer in Colorado, said the search giant had reached out to him. (On The Cannabist Show, Lord discusses the implications of industry-hated tax provision 280E.)
Venture capitalists are shaking off the stigma. The Bloomberg article contains the tidbit that New York’s health department uses Oracle software to monitor its MED program.
Jim Hagedorn, CEO of publicly-traded Scotts Miracle-Gro, said he want’s to “Invest, like, half a billion in the pot business…It is the biggest thing I’ve ever seen in lawn and garden.” Since 2015, Scotts has spent $255M acquiring companies that make soil, fertilizers, lighting and hydroponics. He pledges to invest $150M more this year.
Ohio is considering a cashless system — think pre-paid debit cards — for its newly legalized MED industry.
Colorado company Helix TCS acquired online wholesale platform Cannabase for an undisclosed sum. Wholesale prices are falling fast in Colorado.
Stock in Insys Therapeutics jumped after the FDA approved its cannabis-derived drug.