Brands Cannabis Cultivation

Next Green Wave looks to capitalize on a sea of opportunity in California cannabis

Next Green Wave’s indoor cannabis facility is in Coalinga, California, about halfway between LA and San Francisco

It’s an ocean of opportunity and Next Green Wave Holdings Inc (CSE:NGW) (OTCQB:NXGWF) is diving right in to catch the next wave: the cannabis wave, that is.

Operating in California, the world’s largest cannabis market, the Vancouver-based company has an ace in its back pocket that many don’t – it is fully-licensed to conduct operations across the entire value chain: nursery, cultivation, extraction and distribution.

“We’re a full vertically-integrated business. We’ve got four conditional use permits on the recreational side and on the medical side, which is quite unique,” says chief executive officer Leigh Hughes, who has been chairman since 2017, recently taking the helm of CEO.

“Our tagline is premium seed to consumer integration,” says Hughes. “We take it right from the seed all the way right to the retail storefront, providing our consumers and customers with multiple premium product lines. That’s where we see the business going.”

A mammoth indoor facility in progress

Next Green Wave’s indoor cannabis facility in Coalinga, California is nestled about halfway between Los Angeles and San Francisco.

Phase 1 construction is now complete on a 35,000 sq/ft indoor facility has seen a host of changes in recent months, with all major construction on its first phase having been completed in January.

A few items remain: finishing the power cable installation from the local substation to connect the facility, as well as a final City inspection for the issuance of an occupancy permit.

The starting line is near though and it’s expected Next Green Wave will begin production over the next few months and will expand it further.

For Phase 1, the 35,000 sq/ft, automated facility comes equipped with proprietary fertigation, operational and security systems. The building will also host positive pressured, climate-controlled rooms to accommodate the full growth cycle of cannabis.

A dozen football fields

There’s a lot of runway to grow at the Coalinga facility – with more than 15 acres, or around 350,000 square feet of space to grow. 

That’s about the size of 12 American-sized football fields and Next Green Wave has plans to build this out over the next two years, adding another three facilities, with full capacity by mid-2020.

Intrexon deal compelling

One of the most exciting announcements to come out of Next Green Wave in recent weeks was the signing of a deal with Intrexon Corp (NASDAQ:XON), in an aim to create a world-class nursery.

The deal will allow the rapid production of its proprietary cannabis for the California market and will take place in two phases. In the initial optimization phase, Intrexon will calibrate its Botticelli™ technology to Next Green Wave’s award-winning cannabis cultivars.

Intrexon’s Botticelli platform is an advanced tissue culture technology designed to enable the efficient propagation of plants while maintaining genetic purity and product performance.

In a later production phase, Next Green Wave may use the technology in the production of cannabis plantlets and the sale of plantlets to producers in California.

The deal is a win for both parties: Under the deal, Intrexon will be entitled to royalties on Next Green Wave’s own plantlet use, and the parties will share the revenue from third-party sales.

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Published: January 23, 2019

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