Market Overview

Dr. Robb Farms Completes $24M Investment Round, Starts Cannabis Facility Buildout

Dr. Robb Farms Completes $24M Investment Round, Starts Cannabis Facility Buildout

Dr. Robb Farms, a California-based, pesticide-free cannabis producer, has broken ground on the first of its three planned facilities after raising $24 million.

The money will be used to develop and operate three independent 45,000-square-foot “hybrid indoor cannabis farms." They'll use Dr. Robb Farms’ proprietary standard operating procedures, which were developed by Dr. Robert Flannery — often considered to be the first person in the United States with a PhD focused on commercial cannabis cultivation.

"Each hybrid indoor cultivation facility is being built with industrial steel, MgO SIPS panels and a UV-transmitting acrylic roof. Each facility will boast leading production capabilities, producing over 1,100 pounds of premium flower per month," according to Dr. Robb Farms. 

The cannabis producer projects that each facility isc apable of producing six complete grow cycles annually due to the controlled environment, which allows for temperature and humidity optimization and supplemental light manipulation.  

“These three marquee facilities represent the pinnacle of horticulture technology in the cannabis space and will serve as the model for all future buildouts as we scale our enterprise management and licensing services,” Chief Strategy Officer Trevor Leeds told Benzinga.

Chief Growth Officer Jace Levine said Dr. Robb Farms plans to focus next on replicating the model across state lines and bringing the product to patients throughout the U.S. 

Related Links: 

Guggenheim's Takeaways From The Capital And Cannabis Conference 

Canaccord Genuity Turns Bullish On The Green Organic Dutchman After Sell-Off 

Posted-In: Dr. Robb Farms marijuana medical marijuanaCannabis News Financing Markets Interview Best of Benzinga


Related Articles

View Comments and Join the Discussion!

Cannabis Movers

Sign up for our secret cannabis newsletter!
Never miss out on the breaking news in the Cannabis Industry!

8 Stocks Moving In Thursday's After-Hours Session

Amazon Falls After Missing Sales Forecast