Next Green Wave Holdings CEO Leigh Hughes Unveils How the Company Wants to Become the Procter & Gamble of Cannabis In California
We’re very pleased to have Mr. Leigh Hughes, the Executive Chairman and CEO of Next Green Wave Holdings (CA: NGW – $0.49 & US: NXGWF – $0.38), with us today. The Company is a vertically integrated seed-to-consumer cannabis company operating in the State of California. And although the New Year is only a few weeks old, Next Green Wave has already reached some significant milestones in 2019.
Mr. Hughes starts by explaining what makes Next Green Wave stand out in the cannabis space. For example, he provides plenty of critical information about the Company being fully licensed across the recreational space as well as the medical space, as it has all the necessary licenses starting from nursery, cultivation, extraction, and manufacturing to distribution.
Furthermore, the CEO explains the value of the seed bank that it recently acquired. It is in the top forty seed banks of all time, has won multiple cannabis cups and is in the seed bank hall of fame.
The value of the seed bank was also part of the reason why Next Green Wave was able to sign a licensing agreement with 1.4-billion-dollar NASDAQ-listed biotech company Intrexon Corporation. This deal will allow Intrexon to research if its Botticelli™ platform works in cannabis. The Botticelli™ platform is a next generation tissue culture technology that replaces cloning and enables high-volume propagation of numerous strains of plants with genetic purity. So far, Intrexon has demonstrated proof-of-concept data for high-throughput regeneration in multiple agro products. This is potentially a massive business for Next Green Wave.
The interview also touches upon Next Green Wave’s outstanding infrastructure. The Company owns over seventy-five percent of the cannabis zoned space in the city of Coalinga, California. It just finished the construction of a 35,000 square foot indoor cannabis production facility for a total investment of between eight and nine million US dollars. An additional 50,000 square foot indoor facility and a 350,000 square foot greenhouse have already been designed and will be built in the same location.
Mr. Hughes also talks about the massive potential for cannabis in California. In 2019, the cannabis market in California is expected to reach $5.1 billion. Even more impressive is that global sales of legal cannabis are expected to reach $75 billion by 2030, and of that California alone is expected to reach $25 billion by 2026. But it doesn’t stop there for Next Green Wave, as the Company is already exploring markets in Australia, South America, and Europe.
Based on all of this potential, the CEO reveals that it’s the Company’s goal to generate first revenues in the current quarter, with total revenues for 2019 expected to be around $20 million.
Access our interview by clicking the play button on the media player below,
or download our convenient transcript.
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