California-based cannabis retailer Harborside Inc. HBOR HBORF will begin enhancing one of its greenhouses at its 47-acre integrated production campus in Salinas, California.
Among other improvements, the company prepares to set up blackout curtains and additional LED grow lights, after which it projects a 50% growth in production, a 10% increase in revenue capacity, and around a 7% increase in the total productive capacity of the Salinas Facility.
These upgrades should be finalized during the first quarter of 2021, and Harborside expects for the expenses to be completely compensated in the following 12 months.
Furthermore, its in-house brand, Harborside Farms is supposed to commence sales of clones grown at its Salinas Facility at all the stores under the company’s brand, counting Desert Hot Springs. The company noted that Harborside Farms products sales have jumped by 229% on a year-over-year basis.
"We have carved out a strong reputation for supplying high-quality cannabis products to the growing California market and these upgrades are a crucial investment that will fuel our growth heading into 2021," Peter Bilodeau, Interim CEO and Chairman of Harborside stated Friday. "Leveraging the strength of our Salinas facility, we're thrilled to be officially commencing sales of clones that are grown at our farm and only available at our stores immediately. This new in-house product category was developed utilizing sustainable cultivation techniques to provide discerning consumers with access to locally grown, high-quality cannabis."
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