RotoGro’s (ASX: RGI) USA subsidiary Global Fertigation Solutions has secured a purchase order worth AUD $220,000 to upgrade and expand a cultivation facility in Las Vegas, Nevada.
The Las Vegas cultivator, The Grove, is expanding their second facility to over 1,100m2, and is utilising RotoGro to expand water treatment and fertigration facilities. The Grove is a vertically integrated medicinal cannabis cultivator and retailer, with two retail locations in Nevada.
RotoGro is a relatively unmentioned public company operating in the global cannabis and food cultivation industries, providing stackable rotary hydroponic technology.
RotoGro Managing Director, Michael Carli said, “The Grove purchase order is the result of the remarkable efforts of our team at GFS. The sales lead for this order emanated from our booth at the recent MJ Biz Conference in Nevada in November of 2018. The success of the MJ Biz Conference and our register of sales leads places GFS in an excellent position for a productive and profitable year ahead.”
As at 1 April 2019, RotoGro has a market cap of AUD $24 million, however since the stock peaked in October 2018 ($0.55) their value has more than halved.