Future Farm Technologies Inc. (the "Company" or "Future Farm") (OTCQB: FFRMF) is pleased to announce that it is sold out of its exclusive line of Scorpion LED COB Grow Lights, which recently passed Intertek's ETL certification process. Intertek is one of the world's largest testing, inspection and certification companies and its ETL Mark is proof of product compliance to North American safety standards. With the ETL testing complete, Future Farm is now able to implement its planned sales and marketing strategy into the fast growing North American cannabis cultivation market.
(Image: Future Farm Technologies)
With its ETL certification, Future Farm's Scorpion line of LED indoor grow lights is approved for retail sale across all of North America, which opens up its biggest market for rapid growth. Future Farm's ETL approved LED COB Grow Lights cover a broad spectrum of wattages (including 120W, 245W, 315W, 375W, 495W, 560W) for growing clones or flowering plants. The Company is well positioned to satisfy any cultivator's needs, from the small grower to the large industrial scale grower.
With twenty-six U.S. states and the District of Columbia broadly legalizing marijuana use, the increased demand on energy consumption in pro-cannabis territories is expected to skyrocket, continuing the trend towards LED "grow light" solutions that reduce energy costs while increasing yields. Analysts forecast the global LED lighting market for horticulture application to grow at a CAGR of 22.55% during the period 2016-2020.
"The cultivation of cannabis is an energy-intensive industry," said William Gildea, CEO of Future Farm. "A recent study revealed that legalized indoor marijuana-growing operations account for 1% of total electricity use in the United States, at a cost of $6 billion1 annually. As the cannabis industry continues its rapid global expansion, cultivation facilities are increasingly turning to LEDs to reduce energy costs and boost profits, and we intend to be a part of this growing market."
"Our Scorpion Grow Lights have been in high-demand, and having ETL certification means Future Farm can carry the needed inventory to meet the demand," says Rob Huston of Future Farm's LED Canada Division. "A lot of time and research has gone into this product and I am very happy that we have passed Intertek's high certification standards. We have had amazing feedback from many experienced cultivators considering the switch to LED, and are impressed by the results of our Scorpion COB fixtures. Now that the certification is complete, we can move forward with our distribution plans."