In Colorado, the recently legalized cannabis industry is booming, and it’s shown no signs of slowing down. Between 2009 and 2014, the industry generated over $2 billion in revenue, and forecasts predict sustained annual growth of approximately 23.3 percent between 2015 and 2019. This industry growth, along with the expanding medical market for cannabis-related treatments, is increasing the focus on marijuana cultivation processes throughout the state.
According to a report by the Colorado Department of Revenue, an average of more than 300,000 medical plants are cultivated each month, and the demands of the recreational market are driving continued increases in cultivation totals moving forward. Surna, Inc. (OTCQB: SRNA) is assisting cultivators through the manufacture of innovative technology and products that address the energy and resource intensive nature of indoor cultivation.
In particular, climate control plays a major part in the quality of product produced. With satisfactory climate control systems, cultivators can maximize productivity, quality and volume while minimizing monthly operating expenses. Surna’s proven line of climate control products addresses this market need. Offering a product line including commercial chillers, air handlers, dehumidifiers and other essential equipment, the company has carved out a substantial niche in the country’s most rapidly expanding industry.
Surna’s most innovative product is the Surna Reflector, which is hailed as the most efficient reflector on the market. Using point-source heat removal, the revolutionary tool removes heat created by the light bulb before it is disseminated throughout the room, providing cultivators with a reduction in overall cooling costs. In a recent press release, the company announced that it was closing in on commercialization of this game-changing system, highlighting the positive feedback received from initial testing.
In addition to continued product development, Surna’s financial growth has provided prospective investors with a glimpse of the company’s potential moving forward. In the first quarter of 2015, Surna recorded gross revenue of $870,895, which was equivalent to 47 percent of total revenues from 2014, as well as a 93 percent increase in deferred revenue, as compared to year-end results.
“We view these results as just the tip of the iceberg for Surna,” stated Tae Darnell, Principal Executive Officer of Surna. “We see this market growing exponentially and we intend to continue to execute on being the preeminent source for technology in cannabis and the CEA (controlled environment agriculture) space.”
As the cannabis market continues to mature throughout Colorado and around the country, Surna is in a strong strategic position to realize near limitless growth. Look for the company to continue increasing market share in the months to come, providing the opportunity for sustained investor returns for the foreseeable future.
For more information, visit www.surna.com
