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Cann Group Limited Betting On The Development Of First Big Glass Roof Factory

  • November 05, 2018 05:46 AM AEDT
  • Team Kalkine
Cann Group Limited Betting On The Development Of First Big Glass Roof Factory

Cann Group Limited (ASX: CAN) with its strong long term objective to be the Australian industry leader and to develop sufficient capacity to serve expanding export markets and with its  continuous focus on the development of the medicinal cannabis and its facility at Melbourne Airport, is in the phase of designing a huge glass roof at the Melbourne Airport, and such facility will be one of the first of its type in the world.

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The idea for the design of the Melbourne site was announced in June and this was undertaken by the Canadian greenhouse designer Aurora Larssen. The project worth $100 million is expected to be ready by June. As per the recent interview with the chief corporate officer of Aurora, Mr. Cam Battley, the company is one and the only company that has been working in the development and building of the cannabis production facilities with a glass roof and a closed system in the World.Â

The second biggest pot stock and the major shareholder of Cann Group Limited with a holding of 23% got the greenhouse design last year.

Mr. Battley in a recent interview further added about the new facility and according to him the glass roof with a closed system that will not be open to the air, will provide precise control over the environmental variables that will help in producing an extensively clean cannabis. He believes that glass –roofed Melbourne facility has the potential to produce more than six cannabis harvests. However, there are different viewpoints about glass roofs and effective ways to grow cannabis. As per the director of Adelaide university plant accelerator Trevor Garnett, glass which provides natural light that plants prefer is a good substitute to artificial lights that are being expensive to run and need right globes with specific wavelength as per the plant needs. Other views are of the opinion that glass makes temperature –control more complicated.

Various players are banking on the investment in the cannabis development. Canopy the largest pot stock in the world as measured by the market capital holds 11.2% of AusCann and Aphria that holds number five position has 25% of its holding in Althea Group. However, some investors have concerns regarding the interest by the Canadian players, whether it is a sign of local companies being strong takeover targets or whether the stakes are defensive.

Stock prices of CAN surged earlier this year on rumors that Aurora had made an offer. However, no comment was provided by Mr. Battley on the speculating rumor.

CAN group with its long term strategy to establish itself at rank one among all market players and with overall optimistic outlook on the cannabis sector is continuously working on this line of developing the one of the first big-glass roof cannabis factory.

Strong growth prospects underpinned by the increased demand for the innovative as well as safe medical cannabis treatments along with the new developments being key focus under the long-term strategic plan of the company will help the stock which is currently trading at $2.75, up 4.2% on November 05, 2018 (4:20 PM AEST) to reap the benefits of burgeoning medical cannabis market.


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