TEMPE, AZ / ACCESSWIRE / December 7, 2015 / Green Planet Group, Inc. (PINKSHEETS: GNPG) announced today that it will begin to evaluate the application of its proprietary plant growing system to the marijuana industry. The major benefits of the Company’s unique growing system are a significant reduction in production costs as well as up … Continued
The Company’s subsidiary, Healing The Earth Inc, will investigate this opportunity due to the enormous growth of the industry in states that have legalized the use of marijuana for either recreational or medical use. The marijuana industry generated $2.4 Billion last year, which is an increase of 74% over the previous year. The total legal market is projected to be worth $11 billion by 2019. Currently there are twenty-three states that have legalized marijuana for medical use and seven states have similar pending legislation. Recreational use of marijuana is currently legal in four states; Alaska, Colorado, Oregon, and Washington, as well as in the District of Columbia.
A national publication recently noted, “The huge growth potential of the industry appears to be limited only by the possibility of states rejecting the loosening of their drug laws. The report projects a marijuana industry that could be more valuable than the entire organic food industry – that is, if the legalization trend continues to the point that all 50 states legalize recreational marijuana. The total market value of all states legalizing marijuana would top $36.8 billion – MORE THAN $3 BILLION LARGER THAN THE ENTIRE ORGANIC FOOD INDUSTRY.”
Edmond Lonergan, Green Planet Group president/CEO stated “With the marijuana business growing at this tremendous pace and the needs of growers to expand their production, it makes sense for us to evaluate the application of our technology to this industry. If successful, this capability could increase the market for our technology significantly. In addition shortages of products such as cannabidiol (CBD), used for the treatment of schizophrenia, can be virtually eliminated.”
Healing the Earth, Inc. is building a “proof of concept” growing system installation to provide barley fodder for the feeding of cattle. This installation will verify the productivity and nutritional quality of food grown on the Company’s groundbreaking growing technology and validate its three primary concepts: Food on Demand, Food at the Point of Consumption and Fast Track Food.
– This revolutionary growing system produces 100% organic food naturally, with no GMOs (genetically modified organisms) or chemical fertilizers.
– The system uses 90+% less water than conventional growing methods and plants grow up to 300% faster.
– GNPG projects that revenues from the HTE subsidiary could exceed $46 million with a gross profit of $19 million within the next four years.
About Green Planet Group, Inc.
The Company is comprised of four wholly owned subsidiaries: one operating company and three development companies. XenTx Lubricants, Inc. produces lubricants and additives for gasoline and diesel engines. AAQIS, Inc. is developing a hydrogen generator which greatly reduces hydrocarbon emissions while improving fuel efficiency in internal combustion engines. Green Mining Technologies, Inc. is developing green technologies for the mining of precious metals. The Company’s Healing the Earth subsidiary is developing a new “fast track” growing system capable of growing vast amounts of fresh, organic food.
Certain statements contained herein are “forward-looking” statements (as defined — Private Securities Litigation Reform Act of 1995). Green Planet Group, Inc. cautions that the statements made in this press release constitute forward-looking statements and no guarantees of future performance and actual results or developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at time the statements are made.
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SOURCE: Green Planet Group, Inc.