Canadian Cannabis Tech Company Eyeing Australia’s Securities Exchange

Image via RotoGro

A Canadian cannabis technology company is preparing for a January Australian Securities Exchange listing. The Company, RotoGro is looking to take advantage of Australia’s recent decision to legalize medical cannabis production.

RotoGro manufactures completely automated rotary hydroponic growing systems, which can grow up to 420 cannabis plants. The company’s CEO Adam Clode sees Australia, who legalized medical cannabis in November, as “a huge opportunity for peripheral industries.”

“The potential for medicinal cannabis is obvious—companies which are applying for a cultivation license at the moment will no doubt be looking for options to produce cannabis as efficiently and cost effective as possible while ensuring consistency of product,” he said in the report.

RotoGro intends on putting up 18 million shares at $0.20 AUD (USD $0.15) for a maximum of $3.6 million AUD (USD $2,615,130). According to Clode, the company already has facilities in Europe and North America, and he claims that this technology can produce more than nine times the cannabis of a traditional hydroponic system.

“This is produced using about half of the energy of traditional growing systems and 80 percent less water,” he said. “Both of these savings have a huge impact on the bottom line of businesses whether growing perishable foods or medical cannabis.”

The device, Clode explained, rotates cannabis plants around a single light source and feeds them through a stand-alone reservoir. All of which is monitored by RotoGro’s software. Everything is designed to yield more product while minimizing waste.

“Medicinal cannabis is just one potential use of the Roto-Gro technology,” he said. “There are much bigger issues we’re trying to solve as well, like how to sustainably produce food in dense urban areas with a lack of fertile land or lack of clean reliable water.”