How do you survive in a tender, but brutally competitive market? Greengro Technologies Inc. (OTCPK: GRNH) is betting that innovation can make the difference, as it seeks a larger slice of the nascent and promising legal medical and recreational marijuana market. The company recently announced the acquisition of Grow Camera (growcameras.com), a move that adds to its portfolio a technology for monitoring crop health.
The Grow Camera is a Wi-Fi-enabled NDVI camera with built-in temperature and humidity measuring functions. It is worth noting that the technology behind Greengro’s Grow Camera isn’t unique. For example, the technology is already widely used in weather satellite and space imaging. However, the application that Greengro has for the technology is unique.
What’s Greengro up to?
According to Greengro, the NDVI camera will be deployed to monitor vegetation health so that it can help to identify early indicators of a problem in the grow room. Greengro is engaged in the business of providing indoor and outdoor grow systems for different types of plants, with restaurants, commercial growers and community gardens being among its clients. In the recent times, though, the company has been drawing great interest for its grow-room systems from cannabis growers and producers.
Greengro’s CEO, James Haas, noted that measuring crop health and integrating the data into control systems could help their customers reduce labor costs and improve yield. Haas considers their use of NDVI camera to monitor plant health as a form of Internet of Things (IoT) coming to the garden.
Perhaps in the battle for the legal marijuana billions, Greengro is betting that leveraging IoT in grow-room systems will differentiate products and drive sales. It is projected that U.S. legal cannabis market would be worth $6.7 billion by the end of 2016, growing further to more than $22 billion by 2020.
How does Greengro’s Grow Camera work?
Greengro’s Grow Camera is a multiplatform camera technology. It is compatible with devices that run Alphabet unit Google’s (NASDAQ:GOOGL) Android, Apple’s (NASDAQ:AAPL) iOS and Microsoft’s (NASDAQ:MSFT) Windows. The mobile app is used together with the 5-MP NDVI camera to monitor and then quantify vegetation health.
Greengro is trying to project its Grow Camera tool as a less complicated technology for growers of any kind.
To ensure that its Grow Camera works perfectly, Greengro has recently made a number of small acquisitions to both expand its scope and functionality. For example, the company acquired technology that integrates CO2, pH, humidity, temperature and other indicators into the system.
Greengro had trouble cracking into other growing markets, but seems to be getting some traction in the cannabis space, as measured by sales during the first quarter of 2016. In April, the top executive Haas said that Q1 revenue climbed to $522,000, a figured that nearly surpassed sales for all of 2015.
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