Next Green Wave Off To Great Start in 2019
Tony Deyes
February 13th, 2019
Exclusive, News, Top News
Next Green Wave Holdings Inc. (CSE: NGW, OTCQB: NXGWF), the Canadian-based seed-to-consumer premium medicinal and recreational cannabis company operating in California, made three major announcements in January pertinent to its plans for growth and innovation, and which the company expects will help to distinguish itself in the highly competitive California cannabis marketplace. California has over a million medical cannabis customers alone, and a report by BDS Analytics estimated cannabis sales of US$3.7 in 2018, making it the largest single cannabis market in the world.
Cannabis Genetics Catalogue
On January 8th, the company announced its Director and CEO, Michael Jennings, has assigned 100% of his genetics inventory to Next Green Wave’s wholly-owned subsidiary, Crossgate Capital US Holdings Corp, adding an additional 112 cultivars to its existing genetics portfolio. The acquisition will advance plans for developing a world-class nursery and new cannabis hybrids tailored for the California market, currently the largest cannabis market in the world.
Leigh Hughes, Next Green Wave Executive Chairman said, “As a Company, our vision is to build a world-class nursery that pushes the innovation envelope in the cannabis industry. We have one of the world’s most exceptional breeders and cultivators – Michael Jennings – who is determined to execute Next Green Waves’ vision to develop a distinguished nursery for the medical and adult-use cannabis market in California.”
The company plans to immediately integrate its newly acquired cultivars into its breeding program, further expanding the range of products it hopes to introduce into the California market in 2019.
Michael Jennings is one of the founders of Loud Seeds, an internationally-renowned breeder of premium cannabis flower and seeds, which developed a vast collection of strains and worked with some of the finest cultivators in the world, being inducted into High Times’ Seedbank Hall of Fame in 2014, and one of High Time’s 100 Most Influential Breeders in California
Next Green Wave announced the creation of its new Research and Innovation Division on January 14th, to be headed up by Michael Jennings, who will transition into the role of Chief Operations Officer and Head of Research & Innovation.
Commenting on the change, Jennings said, “This is a vital time for the Company as we move into the production phase, I’m excited to step into this new role to advance our research and development and push the innovation envelope to establish Next Green Wave as world-class nursery.” Leigh Hughes will take over as the company’s Chief Executive Officer in addition to his role of Executive Chairman, and he had this to say, “This is a major advancement having Michael become the head of operations and lead our new research and innovation division in developing new cultivars to add to our genetic archive. I’m looking forward to taking ownership of this additional role and focus my efforts on our growth strategy and mergers and acquisition opportunities.”
Advanced California Production Facility Completed
As part of the same release, Next Green Wave announced that it has completed all major structural construction on its 35,000 sq. ft. indoor cannabis production facility in Coalinga, California. The facility will now be connected to the power grid – the backbone of which the company built and controls – and once this is completed, it will be subject to a final city inspection before an occupancy permit can be issued. The permit is the final step to allow the company to begin production.
Agreement With Biotech Leader Intrexon Accelerates NGW Production
On January 15th, the company announced a strategic licensing agreement which will allow it to utilize Intrexon’s Boticelli next generation plant propagation platform, which will enable the rapid production of Next Green Wave’s proprietary cannabis cultivars for the California market, accelerating its vision of becoming a world-class nursery.
The Botticelli platform is an advanced tissue culture technology designed to enable efficient propagation of plants while maintaining genetic purity and product performance, offering the potential for a sustainable, scalable, and more economical solution than conventional clones. Current cannabis cultivation is predominantly dependent on clonal propagation, which creates barriers to meeting product demand and is not sustainable due to risk of disease susceptibility.
The collaboration will be two-staged, beginning with an optimization phase, in which Intrexon will calibrate its Botticelli technology to Next Green Wave’s specific cannabis cultivars, followed by a production phase, in which Next Green Wave may utilize the technology in the production of cannabis plantlets for its downstream products and the sale of plantlets to third party producers in California. Intrexon will be entitled to royalties on Next Green Wave’s own plantlet usage and the parties will share equally the revenues from third party sales.
“We believe Intrexon’s next-gen tissue culture approach will enable high volume propagation of cannabis varietals, ensuring product integrity and consistent performance to offer to our customers,” said Mike Jennings. “As the cannabis industry continues to mature, we will continue to bring cutting edge partnerships into our company to ensure we are pushing the innovation envelope amongst our peers. In my many years as a breeder and grower, I have not seen advances with as much potential to be disruptive to plantlet production as the Botticelli technology and am looking forward to realizing its potential in collaboration with the talented Intrexon team.”
Sekhar Boddupalli, PhD, President of Intrexon’s Ag Biotech Division said, “We are pleased to be working with Next Green Wave, a leading cannabis provider with over 20 years’ experience in the industry, as our first partner in the cannabis field employing our cutting-edge Botticelli plant propagation platform to help meet the growing demand for high quality cannabis products for California consumers. Mike’s award-winning achievements in advancing the cannabis industry and his position at the helm of company with some of the most respected breeders and growers in the field make Next Green Wave an ideal collaborator on this program. Their focus on state-of-the art cultivation to provide premium products at low cost is well matched with Intrexon’s approach to sustainable plant production.”
These developments are the culmination of the company’s strategic plans, enabling it to immediately move into production, distribution, and sales, and position it as a standout in California’s immense and ever-evolving legal cannabis market.
Keep an eye on this page and visit https://nextgreenwave.com/ for further updates.
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