New Player in the Michigan Cannabis Market

The state of Michigan is one of the hottest legal cannabis markets in the United States. According to Andrew Brisbo, Executive Director of Michigan’s Marijuana Regulatory Agency, the state recently passed the $3 billion dollar mark in total sales since October 2018. For 2021 alone, total sales topped $1.79 billion. The industry has been growing steadily in Michigan since its inception. In the graph below, the bottom orange line represents medical sales, the middle gray line is recreational sales, and the top yellow line is the total sales.

Source: Michigan Marijuana Regulatory Agency

Michigan’s market is ranked the 7th largest in the US and is knocking on the doors of more established and larger markets like Illinois, Oregon, and Massachusetts. Considering the growth there, and the generally friendly regulatory environment, Michigan would be a logical choice as a place to start for a company with ambitions to become a successful multi-state operator (MSO).

Click here to learn more about investing in Michigan Cannabis

Hero Technologies Inc. (OTC: HENC) is one company that has taken notice and is acting on it. The company has completed the prequalification process for licensing in Michigan and is contemplating the construction of a large cultivation facility in the state. Let’s take a look at what Hero Technologies is up to and where the business might be headed.

Innovative Cultivation System

Hero Technologies owns a majority, controlling interest in  BlackBox Systems and is applying for licenses through this subsidiary. BlackBox, and its founder and CEO Marc Kasabasic, have been operating in Michigan as medical caregivers. With Hero’s backing, the company is looking to greatly expand operations in the state with new adult-use and medicinal licenses. The key to the company’s approach is a patent-pending aeroponic cultivation system. In the video below, Kasabasic discusses the innovative system and its capabilities.

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Potential advantages of the system include extensive automation, elimination of soils and other substrates, no pesticides, decrease in parasite risk, and high efficiency. The proposed cultivation facility employs the use of sun chambers, rather than a typical greenhouse design. Sun chambers are built like normal buildings, with insulated walls, but have glass roofs to allow for sunlight. The design is sturdier in the face of severe weather than a full greenhouse while taking advantage of both the heat retention of traditional structures and the reduced lighting requirements of greenhouses.

The 120 acre site in Pulaski, MI has been chosen and much work has been done on the design and permitting processes with the various local and state regulators. Hero Technologies plans to use the facility as the cornerstone of its vertically integrated business model. The company’s strategic business plan includes cannabis genetic engineering, farmland for both medical and recreational cannabis cultivation, production licenses, distribution licenses, consumer packaging, and retail and dispensary operations that make the company a multi-state operator.

Hero Technologies is in the process of upgrading its listing with OTC Markets to the OTCQB level. OTCQB companies have heightened certification and reporting requirements that ensure a high level of transparency for potential investors and stakeholders.

Investors are encouraged to keep an eye on Hero Technologies’ developments over the coming quarters. Hero represents an early-stage opportunity in the flourishing Michigan legal cannabis market, and the company hopes to expand well beyond those borders in the coming years. Stay tuned.

Click here to learn more about investing in Michigan Cannabis

Disclaimer

The above article is sponsored content. CannabisFN.com and CFN Media, have been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Robin Lefferts

Robin Lefferts has been involved in the legal cannabis industry since 2012, sometimes as an active participant and always as an interested observer.