Endexx Targets 30% Reduction in Energy Costs for Indoor Cultivation Facilities
Ryan Allway
January 3rd, 2014
News, Top Story
Endexx Corporation’s (OTC Pink: EDXC) renewable energy division, Global Solaris Group, recently completed its first commercial solar installation in Northern Arizona that’s generating 30% per year in energy savings for the customer. The company is now positioned to offer renewable energy products and services to the growing cannabis industry in the U.S. and Canada.
Global Solaris Group, the renewable energy division of Endexx Corporation, recently completed its first commercial solar installation in Northern Arizona. The 145 kilowatt system is now online after receiving all necessary clearance for commissioning from Arizona Public Service, the largest electric utility company in Arizona, a division of Pinnacle West Capital Corporation. The system generates over 30% per year in energy savings for the customer.
Global Solaris Group is now positioned with its strategic EPC (engineering, procurement and construction) partners to offer renewable energy products and services to cannabis grow facilities in the US and Canada to reduce expensive operating costs from high energy use. When factoring operating costs, energy use for lighting and air conditioning has the largest impact on facilities costs for growers and processors of marijuana plant products. Monthly cost of electricity can be as high as $1 per square foot per month or more.
Some communities have already taken steps to require cannabis grow operations to be powered by renewable energy sources like solar or wind to lessen the industry’s carbon footprint. As the states of Colorado and Washington gear up for the launch of recreational marijuana programs, and as Canada implements the Marihuana for Medical Purposes Regulations (MMPR) program, warehouses and secure indoor gardening facilities are expanding operations to meet the industry’s expected growth.
There are currently 736 medical marijuana cultivation facilities in Colorado, according to the Colorado Marijuana Enforcement Division (MED). In November 2013, The Washington State Liquor Board issued a ruling to limit the total amount of growing space to 2 million square feet statewide, of which a good portion will be outdoors and in greenhouses. Canada’s new program restricts cultivation strictly to indoor facilities that are highly energy intensive.
One grower in Denver spends over 20,000 dollars per month in energy costs. That is the equivalent of 200 average size homes in monthly electricity needs. Energy costs account for over a third of total marijuana production costs. M3Hub renewable energy solutions look to reduce that cost by one third.
Endexx is uniquely positioned to bring added value to Cannabusiness participants by offering vertically integrated services that incorporate the M3Hub suite of services with M3 management platform, Autospense dispensing technology, THCFinder.com social media and Global Solaris Group renewable energy solutions.
About Endexx :
www.endexx.com, www.gsgsolar.com, www.m3hub.com, www.autospense.com, www.THCFinder.com
Endexx Corporation is a micro-cap publicly traded company, representing the interest of its shareholders and collaborating with independent software developers, scientists, engineers, and other companies to build businesses that can thrive collectively in the equity markets. Endexx’s team recognizes that individually small companies with new technologies have an extremely difficult time sustaining themselves as stand-alone companies. Through our collaborative practices, individual and group skill sets are better utilized to develop technology and grow the business, while centralizing costs and eliminating redundancies.
The Endexx management team and its advisory group each have at minimum 10-50 years of experience in their respective fields. The business professionals associated with the direction of the company all have experience growing businesses, developing and implementing new technologies and running publicly traded corporations.
Endexx Corporation is ultimately structured to provide a platform for entrepreneurs to thrive, offering maximum return on investment through equity ownership in the parent corporation. Each individual is a shareholder and is encouraged and self-driven to be successful and contribute to the overall objective of increasing shareholder value.
Contact Endexx via email to receive corporate news and updates at Endexx@endexx.com
http://www.otcmarkets.com/stock/EDXC/quote
Safe Harbor Notice – This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company’s business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company’s periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.
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 Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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