Nature’s Miracle signs $150M MOU to build cannabis facility in California

Nature’s Miracle (NMHI) has entered into a Memorandum of Understanding, or MOU, with CCBP Holding to provide engineering, procurement, and construction, or EPC, services for a large-scale indoor cannabis cultivation facility in California City, California. The total estimated EPC contract value is approximately $150M. Once completed, the facility is expected to be among the largest indoor cannabis growing operations in California. The advanced cultivation platform is projected to achieve an estimated production cost of less than $200 per pound of cannabis. Nature’s Miracle will serve as the primary EPC provider for the project, which is expected to be completed within 12 to 18 months.