Why You Should Keep An Eye On Novagant
Novagant Corporation (OTCMKTS:NVGT) describes itself as an "an innovative company in the development and sale of equipment to enhance and benefit the growing cannabis cultivation industry." The company's main products are grow lights and advance control equipment (electrical switches) that can be used in an indoor garden or greenhouse to help grow cannabis.
Different Types of Grow Lights
The primary product that the Novagant Corporation will manufacture and market are grow lights. Currently, there are many companies those sale agricultural grow lights. There are also many different types of grow lights. The lights can be used for indoor gardens to grow herbs, vegetables or to help flowering plants. They are often used to grow marijuana plants. Perhaps the most widely used grow lights are fluorescent lights. Fluorescent lights are relatively inexpensive and they last a long time.
Another type of grow light is the incandescent light. These are an older type of light that are not very popular because they are not very efficient and they give off a lot of heat. If they are placed too close to a plant they can make it wilt or singe the leaves. Each type of grow light gives off a different color spectrum of light and most horticulturalists prefer the color spectrums of other types of grow lights.
Another popular type of grow light is the high intensity discharge (HID) light. These types of bulbs are more expensive than fluorescent or incandescent lights. They also are more efficient and use less electricity. The quality of light that they emit is considered to be more conducive to plant growth. HID lights are generally higher watt bulbs that are used by serious horticulturalists and commercial growers.
A fourth popular type of grow light is the light-emitting diode (LED). LED lights are a newer type of bulb that is more powerful and more efficient than other types of bulbs. In addition, they produce less heat than the other grow lights and the quality of their light is better for plant growth, because the light can be adjusted to stimulate the plant during different growth cycles.
The final type of widely used grow light is the metal halide light (MHL). Metal halide lights emit a strong blue light that helps plants develop strong roots, stems and leaves.
The Top Manufacturers of Grow Lights
There are quite a few companies that manufacture grow lights and some of them are very well known. The prospects for the sale of grow lights look positive. As people try to avoid the deleterious effect of pesticides the use of growth lights is likely to increase. A report by the Grow Lights for Agriculture Market Shares, Strategies, and predicts that the market for grow lights will expand from $395 million in 2013 to $3.6 billion in 2020. In addition to the expansion of the grow light marketplace the technology is also changing from fluorescent lights which are still quite popular to LED lights which are cheaper to use and more versatile. Major manufacturers of grow lights include:
General Electric Company (NYSE: GE) is one the leading manufacturers of grow lights. GE is a diversified holding company, and with a market cap of nearly $270 billion it is one of the largest companies in the world. The company manufactures fluorescent lights and LED lights. They market hundreds of different lights, but they are a leader in LED technology. There comment regarding LED's is; "LED grow lights have come a long way since we first attempted to grow plants under them. With the introduction of the new classes of led emitters, we now have the power to grow huge plants with much less heat. Things are changing with gardening lighting and LED grow lights are now real. If you are into cutting edge technology LED grow lights should be considered."
Koninklijke Philips NV
Another leading manufacturer of grow lights is Koninklijke Philips NV (ADR) (NYSE: PHG). Philips is an electronic equipment company with a market cap of nearly $30 billion. It is a leading lighting system manufacturer, and it markets fluorescent and LED grow lights. Philips is an innovator when it comes to LED technology and the company has issued the following statement regarding its LED grow lights, "Light is an important horticultural production tool, and LEDs are set to play a major role. With LED lighting, you can tune the GrowthLight, which makes it possible to apply the optimum light recipe at every stage of a crop's growth. This capability, together with our LED systems' effective heat management and energy efficiency, opens up new opportunities to grow value. "
Osram Sylvania is one of the world's largest light bulb and light systems providers. It manufactures a wide range of lighting products including grow lights. The company sells each of the five widely used types of growth lights Fluorescent, High Pressure Sodium, LED, Metal Halide and Incandescent. Sylvania used this statement to explain the value of its grow lights. "All plants need light to thrive, when gardening indoors. Growing lights are essential for healthy robust plants. We can help you choose the best grow system for your specific needs from among the thousands of grow light products we supply."
Volcano Corporation, sales a wide range of products that includes growth lights. It is a mid-sized company with a market cap of about $900 million. The company manufactures fluorescent and LED grow lights. Volcano sales a range of grow light ranging from low watt bulbs for home use to higher watt bulbs for commercial use.
There are a number of smaller companies that sell grow lights, like the Virtual Sun Hydroponics Company, which sales hydroponic grow kits along with fluorescent, metal halide and high pressure sodium grow lights. The Yield Lab Company manufactures and markets fluorescent and LED grow lights. There are other small companies which manufacture grow lights and which survive only due to the increased demand that has come from the legalization of marijuana.
About Novagant Corporation
Novagant Corporation is gearing up for business and should soon be marketing its products. The company has a market value of $33 million and its stock price is $0.44.
The company has recently seen a number of important developments. For one, on November 26, 2013 the company changed its name from Petrogulf Inc to Novagant Corporation. On April 8th Novagant appointed Michael Thornton to the position of Vice President of Product Development. In addition on April 15th the company announced that it had moved its headquarters from California to Denver, Colorado. The reason that the company gave for the move was that it "relocated its office to facility new product developments by its newly appointed Vice-President, Michael Thornton, who has extensive experience in the hemp medical industry." Another important development was the purchase of the proprietary and intellectual property rights to a newly developed light device. The light was specifically developed to improve the growth and development of cannabis plants. According to the news wire, the LED light will have one of the best pounds per watt yields in the industry. The light was developed by the company's recently appointed Vice President Michael Thornton who said, "The invention will have a tremendous fit with licensed growers who are driven to grow more Cannabis at lower costs." The new light and the appointment of Michael Thornton will be of tremendous value to the company going forward.
Christopher Lolachi, President & CEO
Novagant's President and CEO is Dr. Christopher Lolachi. Dr. Lolachi is a medical doctor and Chief of the Head and Neck Surgery Department. In addition to his medical studies, he has a minor in Electrical Engineering. Dr. Lolachi has one U.S. patent and several other inventions patent applications pending. He has written research articles that have appeared in the Journal of Immunology, Otolaryngology- Head and Neck Surgery, and Archives of Otolaryngology-HN.
Michael Thornton, Vice President of Product Development
Novagant's Vice President of Product Development is Michael Thornton. Mr. Thornton is a Herbalist who specializes in nutraceuticals and "food as medicine." Michael is also the inventor and the developer of the company's Alkanna LED grow Light.
Novagant Corporation's Prospects for the Future
Novagant's move to Denver seemed logical, because in addition to the company's new Vice-President Michael Thornton working in Denver, the state had legalized the use of cannabis for recreational use. The state of Colorado has been a leader in implementing laws that allow the legal use of cannabis. In May of 2000 state voters approved Amendment 20 which allowed the use of cannabis for patients with written medical consent. On December 10, 2012, Amendment 64 went into effect and anyone over the age of 21 could legally use marijuana for recreational purposes.
On January 1, 2014 stores selling marijuana for recreational purposes opened for the first time. The sale of marijuana for medical patients has been a big business and now that marijuana can be sold for recreational purposes the business could be huge. In the first month of recreational marijuana sales business was so brisk that the state collected approximately $2 million in Marijuana Taxes from recreational marijuana sales. When the sale of medical marijuana was considered Marijuana Taxes came to $3.5 million. That translates into approximately $14 million in total marijuana sales.
With the legalization of recreational marijuana sales, businesses involved in the cultivation and sale of marijuana have a great opportunity to increase their revenues. Also, many marijuana users are considering whether they should grow marijuana in their homes or gardens. Growing marijuana at home is cheaper and more convenient than purchasing it at a marijuana store. For a business like Novagant, that can provide products that improve marijuana cultivation activities, these developments put it in a unique position to take advantage of Colorado's progressive marijuana laws as well as prospective new legislations from other states.
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.