Business
3DX Industries completes development on proprietary product for use in the $6.7+ Billion Legalized Marijuana Industry
3DX Industries completes development on proprietary product for use in the $6.7+ Billion Legalized Marijuana Industry.
About this update from 3dx Industries Inc.
[{"type":"text","content":"Seattle WA, February 22, 2017 – 3DX Industries Inc. (OTC: DDDX) 3DX Industries Inc., (the “Company” or “3DX”) is pleased to announce it has completed the development and design of a new and innovative product used for recovering excess heat from high energy grow lights. The product captures excess heat energy at the individual, grow light source; before it can raise the overall grow room temperature. The captured heat energy can then either be exhausted outside of the facility or routed to areas within the facility or nearby that require heat. Initial engineering studies are indicating a reduction in overall air conditioning electrical load by up to 30%. 3DX Industries research and development team has been working on the design and beta testing of the product for the past year and is now ready to begin prototype production of the component. The part was designed specifically for the legalized cannabis markets including medical marijuana using the company’s 3D Metal printing - Binder Additive manufacturing process and is expected to be installed in select licensed facilities for real world testing in the coming months.North American marijuana sales grew by an unprecedented 30% in 2016 to $6.7 billion as the legal market expands in the U.S. and Canada, according to a new report by Arcview Market Research.North American sales are projected to top $20.2 billion by 2021 assuming a compound annual growth rate of 25%. The report includes Canada for the first time as it moves towards implementing legal adult use marijuana. Mr. Janssen, President and CEO of 3DX Industries comments: “We have invested considerable time and effort to identify and develop a product that we expect will benefit the growing of medical marijuana by designing and manufacturing a component intended to significantly reduce the costs of facility operations. By directly reducing costs to the manufacturer, the benefits of a more affordable end product can also be realized by the end user. Not to mention our product has a direct effect on reducing energy consumption which is a benefit to the environment as well.”The product can be easily fitted to existing and new facilities with minimal effort. 3DX Industries has the design and manufacturing rights to the components and is in the process of filing patent...