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Hero Technologies' Subsidiary Launches Innovative Greenhouse Project in Michigan With Over 25,000 Square Feet Planned for High-Yield, Year-Round Cannabis Cultivation
Hero Technologies' Subsidiary Launches Innovative Greenhouse Project in Michigan With Over 25,000 Square Feet Planned for High-Yield, Year-Round Cannabis Cultivation.
About this update from Hero Technologies Inc.
[{"type":"text","content":"DOVER, DE / ACCESSWIRE / February 25, 2021 / Hero Technologies Inc. (OTC PINK:HENC) (Twitter: heroicmindtech), a vertically-integrated cannabis company, today announced that its Blackbox Systems and Technologies LLC subsidiary, has executed a contract for the initial phase of greenhouse construction on its Michigan property. The company awarded the contract to Ceres Greenhouse Solutions, a leading provider of energy-efficient greenhouse design and manufacturing. Under the contract, Ceres will conduct a comprehensive schematic design review, including environmental engineering, structural renderings, and an energy analysis. The comprehensive design around the BlackBox system will combine innovative technologies to develop the most efficient environmental, quality control, and growing conditions in the cannabis industry.The BlackBox Systems greenhouse complex, to be built on our 120-acre property in Jackson County, Michigan, is expected to provide more than 25,000 square feet of year-round cannabis growing and facility space. Taking advantage of Ceres' and Blackbox's proprietary technologies and turnkey construction, the company anticipates that the complex will quickly produce a cost-effective, high-yield, sustainably profitable cannabis crop. The BlackBox system, while utilizing innovative aeroponic technology, will deliver on average 6,000 pounds of dry cannabis weight annually. The total initial phase cost of $6,500,000 will generate approximately $21,000,000 annual revenue. Revenue expected after perpetual weekly harvesting of 120 pounds per week begins early 2022.Future expansion of the complex will begin in the Spring of 2022 and will consist of 8 additional greenhouses, for a combined complex total of over 75,000 square feet. This $6,000,000 future expansion project will generate $44,000,000 in additional revenue for a total of $65,000,000 revenue annually assuming wholesale prices remain the same.Hero Technologies' subsidiary, Blackbox Systems and Technologies LLC, is also allocating acreage on its Michigan property for seasonal outdoor cannabis cultivation. Simple greenhouse structures, also known as "hoop houses," will be erected to grow 240 plants that could be ready for harvest this Fall of 2021. We expect between 500-1000 pounds of dry cannabis product, which could lead to approximately $1,750,0...