Next Green Wave offers a fully integrated model, from seed to consumer
Company: Next Green Wave (NGW.CSE & NXGWF.OTCQB)
Headquarters: Corporate – Vancouver, Canada. Operations – Coalinga, California
Number of locations: 4
President, CEO & Chairman: Leigh Hughes
Education: Bachelor of Commerce
In current role: Since January 2018
Prior work experience: Founder & CEO of COMVERJ
2019 is shaping up to be a significant year for cannabis consumer product company, Next Green Wave (NGW). Production at its 35,000-square-foot, state-of-the-art facility in Coalinga, California began in April. “We will be producing between 7,000 and 9,000 pounds of premium, quality flower this year to penetrate the biggest market in the world,” says Leigh Hughes, the company’s President, CEO and Executive Chairman.
Hughes is referring to California – unquestionably the world’s largest, legal, adult-use cannabis market. The proof is in the numbers. Analysts at Cowen and Co. have estimated global sales of cannabis will reach US$75 billion by 2030, with the Golden State’s piece of the pie anticipated to be US$25 billion. By 2021, annual tax revenue from the sale of cannabis products in California is expected to hit US$1.4 billion.
With the opening of its Coalinga facility, NGW is positioning itself as a leader within this market. “We have eight brands and 45 products entering the market in 2019, which shows significant potential for future revenue growth. Our vision is to become the Proctor and Gamble of cannabis in California, by offering the number one consumer goods products in the state.”
NGW is already on its way to achieving its desired status, in large part due to the vertically integrated seed-to-consumer strategy it employs. “Our facility is equipped with advanced growing technologies and systems to mitigate risk and increase product quality and output.” The company has been awarded seven licenses, granting it the power to be involved in every stage of the process from the nursery, to cultivation, extraction and distribution. “NGW has acquired a seed library of over 120 strains, which includes several global award-winning genetics. We have also partnered with Canadian CBD provider and distributor, Organic Medical Growth, to offer NGW access to over 7,500 pharmacies in Columbia through the licensing of our brands.”
Looking ahead, NGW is planning to grow its production facility by another 350,000 square feet. The company is also pursuing strategic opportunities. “NGW recently acquired SDC Ventures for US$27 million, which will complement NGW’s branded products portfolio, accelerate the company’s revenue growth, and strengthen product lines and existing labels.”
Hughes cites three reasons why
now is the time for investors to purchase Next Green Wave stock:
- We have started production after 12 months of buildout, with a gateway to significant revenue beginning in Q2 2019 through upstream, midstream and downstream avenues.
- We are launching 8 brands and 45 products over the next 3 months in 2019 to growth NGW’s revenue base and expand our market presence.
- We are rolling out our international expansion plans and the beginning of our biotech project with US$2B market cap partner, Intrexon (XON:NASDAQ)