Village Farms International has built their produce empire by offering greenhouse grown fresh fruits and vegetables. The company has recently announced that it plans to convert one of it’s million plus square foot greenhouses for the sole purpose of growing pot. The announcement comes on the heels of the new partnership between Village Farms and established medical marijuana producer Emerald Health Sciences.
According to Village Farms, the partnership is a “transformational opportunity” combining decades of experience in greenhouse operation with Emerald Heath’s expertise in medical marijuana. Emerald Health, based out of Victoria, is a publicly traded medical marijuana company. According to an outline of the deal, Emerald will contribute $20 million dollars to fund the greenhouse conversion, which will then be equally held by both companies. The partnership hopes to reach an output of around 300,000 kg of medical and recreational cannabis per year. The contract between parties allows for possible expansion into two additional facilities currently owned by Village Farms, for a total potential capacity of over 4.8 million square feet.
The company suggests that the demand for recreational cannabis will be approximately 600,000 kg per year. With a maximum output of 300,000 kg, the new partnership may be the solution to people’s fear of a marijuana shortage once recreational use kicks in. Village Farms plans on starting the greenhouse conversion after this years tomato harvest, which will occur in November. The company also has plans to move into extractions, edibles and all other areas of the burgeoning marijuana industry.