MITU Resources Inc. announced the planned commercial introduction of the company’s licensed WindShark self-starting, vertical-axis wind turbines within the regulated cannabis sector in California.
One of the major factors effecting gross margins in the cannabis sector is the cost of the enormous quantity of electricity required to run a greenhouse or indoor grow facility. Experts estimate that currently over 3% of all California energy is used in cannabis cultivation.
MITU Resources sees tremendous potential in California’s emerging cannabis market for the deployment of rooftop arrays of WindSharks to supply a significant portion of the required power of the average indoor cannabis growing operation.
In fact, it estimates that each of California’s largest licensed indoor cannabis producers requires approximately 4,500 to 5,000 kWh/day for lighting alone.
“One of the most exciting and immediate opportunities for applying the WindShark technology is in California’s emerging regulated cannabis market where indoor growers face stiff competition from outdoor growers and higher than the national average energy prices,” said Simeon Leonardo Reyes Francisco, CEO of MITU Resources.
WindShark’s compact and lightweight design make them ideal to be supported on existing rooftops of buildings in arrays of up to 200 individual turbines with the potential to produce over 480 kWh/day per license, or approximately 10% of the average lighting requirement.
There are currently 2,500 licensed cannabis producers in California, of which more than 1,500 are indoor facilities of up to 20,000 sq. ft. Assuming a 2% adoption by current indoor producers, the Company believes that potential demand in California for WindShark could reach 6,000 total turbines installed for gross revenues of approximately $6,000,000.
“We think that a WindShark turbine array on an existing rooftop is a cost-effective way to produce a significant amount of the daily energy requirement and positively impact the bottom line of any indoor cannabis grower,” added Francisco. “We look forward to partnering with several California-based Cannabis growers for the first WindShark installations in the very near future.”