Bright Green selects test crops at Grants New Mexico facility

Bright Green Corporation announced that specific plants have now been selected for the test crops at its Grants New Mexico facility, and the company gives its operational updates. Revenue generation is planned to start late 2023 in our phase 1 greenhouse, with planned full production in the phase 1 greenhouse and the new construction of the phase 2 greenhouses starting in 2nd quarter 2024 and completion of phase 2 in late 2025. This complete build out will be the largest production and manufacturing facility of pharmaceutical grade cannabis extracts in the world. The company projects minimum debt and minimum share dilution to achieve these accomplishments through its previously disclosed $500 million EB-5 visa fundraising. The company expects and has these expectations by careful design to be the lowest cost, and highest quality producer of pharmaceutical cannabis in both dried flower and extract based applications for sales domestically and export to the European markets. The company has minimum debt, access to minimum dilution, no cost capital, and a proven best climate for cultivation these are facts the company has implemented in its plans. In 2019, the DEA announced steps to increase access to cannabis for research purposes. Bright Green was instrumental in shaping this new program and is authorized to utilize the company’s Grants, New Mexico facility to produce high-quality cannabis intended for pharmaceutical and other product applications. As a DEA-approved project, the largest of its kind, Bright Green has partnered with Controlled Environment Agriculture Design, team of project managers, engineers, designers, and industry professionals who specialize in technical consulting services for the controlled environment agriculture industry. Thomas Larssen, President of CEAd, explained the two phases for the Grants facility: “Phase 1 of the project consisted of the retrofitting an existing high-tech 1 million sq ft. Dutch Venlo style glass greenhouse in a location with a well-suited climate for low-cost, high quality cannabis production. The interior has been removed and reconstructed from the ground up. It is important that each cultivar is provided a climate that fulfills the biological potential of the plant. We then ensure that the climate is maintained year-round, as batch-to-batch consistency in the chemotype during cultivation of the botanical raw material is critical. It is necessary to ensure the consistency of the chemical fingerprint of both the raw materials and the subsequent extracts are maintained to ensure consistent batch-to-batch quality, safety, and efficacy of the botanical drug products. Mr. Larssen added that “to help achieve the lowest possible cost of production, crop automation is used to avoid repetitive tasks and increase throughput.” Phase 2 includes two additional highly automated greenhouses, each consisting of 57 acres for a combined 114 acres of production. “This is where things get high-tech with a fully automated benching system, the latest high-efficiency LED lighting, and the best in climate controls. This vision of the project funded by the EB-5 program: constructing the highest tech, highest density cannabis production possible all DEA, pharmaceutical grade and FDA compliant.” The Company has contracted with two groups capable of providing the necessary chemovars while maintaining them in conditions completely free of pests and diseases such as Hop Latent Viroid. Nordic Supreme, based in Odense, Denmark, is a forward-thinking multi-disciplinary team consisting of breeders and researchers who are experts in production of unique cannabis varietals suitable for commercial greenhouse operations. As the Bright Green’s market evolves and demand for specific molecules crystallizes, Nordic Supreme will be providing a breed program that supports increased production of select cannabinoids along with disease and pest tolerance or even resistance.