Yahoo Finance Pot Takes a Ton of Power
HENDERSON, NV / ACCESSWIRE / December 11, 2018 / The $3.5 billion cannabis industry is one of the nation's most energy intensive, often demanding 24-hour indoor lighting rigs, heating, ventilation and air-conditioning systems at multiplying grow sites. Legal cannabis cultivation in the U.S. consumes an estimated 1.1 terawatt-hours of electricity a year, according to the 2018 Cannabis Energy Report, published by Scale Microgrid Solutions along with New Frontier Data and the Resource Innovation Institute. Companies managing these solutions are great ways to diversify your cannabis industry risk.
Today we are highlighting: CleanSpark, Inc. (CLSK), MedMen Enterprises, Inc. (MMNFF), CV Sciences, Inc. (CVSI), Aurora Cannabis, Inc. (ACB) and Dominion Energy, Inc. (NYSE:D).
Indoor growers are looking to cut spiraling electricity consumption with custom-built microgrids in U.S. states where cannabis cultivation is legal.
A company that seems to be in the right place at the right time to capitalize on this huge market inefficiency is CleanSpark, Inc. (CLSK) (Market Cap: $76.726M Share Price: $2.09).
CLSK has a unique microgrid solution for the cannabis industry. Their mPulse software reduces the monthly electricity bill of indoor grow-houses by up to 82%! They do this by virtually eliminating the demand charges that can account for almost 50% of the utility charges for such a facility.
Pressure is mounting on the cannabis industry to improve its margins after a lackluster 3rd quarter, companies like CLSK can help do just that.
CLSK also just released an impressive letter to shareholders highlighting: an agreement for an $18.3 million 'Zero Net Energy' Microgrid with an S&P 500 Member Real Estate Investment Trust (REIT), near completion on a $900,000 contract to install a 'turn-key advanced microgrid system' at the U.S. Marine Corps Base Camp Pendleton, has been awarded 2 patents, and updated an acquisition that could be a huge boost to the company's year end revenues.
CLSK's acquisition, Pioneer Custom Electrical Products, has delivered $32 million in products since 2016 and has $5 million in backlog. They have also received a $2.4 million equipment order as part of a contract for the new U.S. Embassy in Beirut, Lebanon which should end up on CLSK's balance sheet.
Cannabis company, MedMen Enterprises, Inc. (MMNFF) (Market Cap: $1.53B Share Price: $3.25), announced that it has completed its previously-announced bought deal financing of 13,640,000 units at a price of C$5.50 per Unit for aggregate gross proceeds of C$75,020,000.
Cannabis producer, CV Sciences, Inc. (CVSI) (Market Cap: $473.113M Share Price: $4.95) announced their financial results for the third quarter ended September 30, 2018. These included sales of $13,600,000 (an increase of 143% compared to Q3 2017), gross profit of $9,945,000 (an increase of 149% compared to Q3 2017) and achieved industry's first hemp extract self-affirmed Generally Recognized as Safe status for its hemp-derived CBD gold extract product line.
A company that could use CLSK's services, Aurora Cannabis, Inc. (ACB)(Market Cap: $5.677B Share Price: $5.73), a Canadian marijuana producer was just selected to supply medical cannabis to Luxembourg. The decision by the Luxembourg Health Ministry helps Aurora expand its footprint in the European Union and comes more than a week after the company announced it completed the first shipment of medical marijuana to the Czech Republic.
Dominion Energy, Inc. (D) (Market Cap: $50.069B Share Price: $76.27) provides nearly 6 million customers in 19 states with electricity or natural gas, headquartered in Richmond, VA. The company is committed to sustainable, reliable, affordable, and safe energy and is one of the nation's largest producers and transporters of energy with nearly $80 billion of assets providing electric generation, transmission and distribution, as well as natural gas storage, transmission, distribution, and import/export services.
Legal Disclaimer:
This article was written by Regal Consulting, LLC ("Regal Consulting"). Regal Consulting has agreed to a three-month term consulting agreement with CLSK dated 9/12/18. The agreement calls for $10,000 in cash, and 30,000 restricted 144 shares of CLSK per month. Regal and CLSK have signed an amendment to extend the contract for twelve months starting 10/10/18, and increased the cash component to $20,000 per month. All payments were made directly by Clean Spark, Inc. to Regal Consulting, LLC. to provide investor relations services, of which this article is a part of. Regal Consulting also paid one thousand dollars cash to microcapspeculators.com to distribute this article. Regal Consulting may have a position in the securities mentioned in this article at the time of publication, and may increase or decrease its position without notice. This article is based on public information and the opinions of Regal Consulting. CLSK was given an opportunity to edit this article. This article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any results predicted herein. Regal Consulting is not registered with any financial or securities regulatory authority, and does not provide or claim to provide investment advice.
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