Intelligent Highway Solutions Completes First Delivery of Grow Lights
June 10th, 2014
News, Top News
Intelligent Highway Solutions Inc. [stockquote symbol=”IHSI”], a provider of intelligent highway solutions and innovative lighting solutions for cannabis growers, recently announced the shipment of its first LED lights to a medical marijuana grower in California. The company also received interest from five additional growers in multiple states since the launch of its new lighting solutions.
“We are making quick and significant progress with our foray into the medical marijuana industry,” said CEO Devon Jones. “It is very important that we communicate very clearly to our shareholders that we will only service the medical marijuana growers in the 20 states that have already approved marijuana for medical use [where the drug’s sale is permitted by the state].”
The company’s innovative lighting technology delivers UV-enhanced white light spectrum lighting to cannabis growers. According to a prior press release, the fixtures use 85% less energy than the sodium and metal halide HID lamps widely used within the industry and provides more than 400% of the required energy in proper wavelengths for photosynthesis versus HID lamps.
The company has been awarded exclusive distribution rights by the lights designer and fabricator for certain U.S. states and Canada. Under the terms of the agreement, the firm must achieve minimum sales of $1.5 million to maintain exclusivity, while the initial term is set for two years with extensions available. The legal marijuana market is estimated to be worth at least $40 billion worldwide.
Shares of Intelligent Highway Solutions Inc. rose more than 80% in late-day trading on Tuesday afternoon following the announcement.
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.
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