Ambient Water Targeting Medical Marijuana Industry
Ambient Water Corp. (OTCBB:AWGI) announced that it is looking at the opportunities that the medical marijuana industry may hold for its atmospheric water generation technology. Specifically, the company is offering its AW 400 commercial unit to those growing marijuana.
As quoted in the press release:
A report released in January found that the U.S. market for legal cannabis grew to $2.7 billion in 2014, up from $1.5 billion in 2013. The report goes on to say that the potential market could be worth almost $11 billion by 2019, as 14 more states could legalize recreational marijuana while two additional states legalize it for medical use.
Of the $2.7 billion in sales in 2014, nearly half ($1.3 billion) came from California, a state that is currently water-strapped as it endures one of its worst droughts in recent history. The growing of marijuana was once linked to water scarcity issues in California, as pot plants have been said torequire anywhere from six to 15 gallons of water per day — compared to nine gallons of water per day for corn. Simply put — marijuana growers need water, and there is less and less available not just in California, but globally.
Keith White, founder and CEO of Ambient Water, commented:
The legalized marijuana industry has shown tremendous growth over the last year, and is poised to continue its trajectory as more and more states pass legislation. But like much of the agricultural industry, marijuana growth is also highly dependent on water, a resource that has become more precious as the United States battles scarcity issues. Our atmospheric water generation technology fits perfectly into this market, as we are able to provide a sustainable and renewable source of water and complete climate control that can be installed on site and utilized during any part of the growing process. Recently, we have received an increasing number of inquiries from independent growers and greenhouse developers about using atmospheric water generation for marijuana growing operations.