CannabisNewsWire Company Spotlight

Advanced Container Technologies Inc. (OTC: ACTX) is in the business of selling and distributing self-contained, automated, indoor “micro-farms” called Grow Pods, along with related equipment and supplies. Additionally, the company designs and sells patented proprietary medical-grade plastic containers, known as the Medtainer®, that store and grind pharmaceuticals, herbs, teas and other solids or liquids.

ACTX is the leading distributor of Grow Pods. With a controlled environment, food and herbs can be grown without pesticides, harmful chemicals or risk of pathogen contamination, and with low energy consumption. Restaurants, grocery stores, non-profits, MSOs and entrepreneurs can use Grow Pods to ensure a fresh supply of ultra-clean produce year-round.

The company entered the Grow Pod business in October 2020 with its acquisition of all shares of Advanced Container Technologies Inc., a California corporation. As of February 28, 2022, ACTX is exploring the acquisition of the assets and the assumption of some or all of the liabilities of GP Solutions Inc., the developer and manufacturer of Grow Pods, for which ACTX is currently the sole U.S. distributor.

Because Grow Pods can be located almost anywhere, produce can be grown closer to the point of consumption and harvested at its peak, providing nutritious fruits and vegetables where needed. Indoor micro-farms, utilizing a practice known as vertical farming, have attracted the attention of governments and universities, which are now promoting vertical farming as a way to combat food insecurity and inequities.

The United States Department of Agriculture (USDA) has stated that vertical farming “is no longer a futuristic concept.” The department is enthusiastic about vertical farming, particularly those utilizing repurposed shipping containers, such as Grow Pods. Arizona State University reports that vertical farming reduces water use by 90 percent compared to conventional farming but produces 10 times the crop yield.

Recent Coverage

420 with CNW - Florida Regulators Start Process to Grant More Medical Cannabis Business Licenses

State health officials have set in motion a process to issue at least 22 medical marijuana licenses in a move to double Florida’s medical cannabis market. The health department has also published a rule making it quite expensive to renew the marijuana trading license every two years, by increasing it from $60,000 to $1 million. This increase came when Governor Ron DeSantis said the marijuana enterprises need to pay more to operate within Florida.

The health officials will implement batching cycles for the license applications. The reason behind the batching introduced is to avoid costly litigation costs. This batching will be established in a separate rule. The health officials did not disclose how many licenses will be made available. The application fee for new licenses has also been increased from $6,830 to $146,000, creating a buzz among the attorneys, investors and lobbyists within the industry.

Jeff Brandes, a former senator, said that the number of licences isn’t the problem; rather, the structuring is the issue, says Brandes. “It is illegal to only grow marijuana in Florida. If one is to distribute or have treatment kiosks only, that’s also illegal,” he stated. “A marijuana entrepreneur has to be involved in the entire process from growing to distributing marijuana. This makes marijuana very expensive than it ought to be. This in turn causes marijuana facilities to run out of products quite too often.

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