- The Cannabis industry is the new ''gold rush'', with the legal marijuana market estimated to grow to $146 billion by 2025. Marijuana stocks can offer great returns but can be highly unpredictable and risky.
- ''Pick & shovel'' plays are companies that provide essential goods and services to an industry without being direct participators, they offer an alternative way to participate in the financial returns of the growing cannabis industry.
- Odors from grow operations and production are bothering neighbors and creating serious problems in the form of local resident opposition, costly permit delays and rejections, fines, and lawsuits.
- The industry is struggling to control marijuana's strong odors with current technologies.
- BioLargo, an innovative technology and engineering company, has a new solution with its patented ''CupriDyne Clean'' currently killing hard-to-control odors at landfills and waste transfer stations.
The Cannabis Odor and VOC (Volatile Organic Compound) Problem
DENVER, CO / ACCESSWIRE / March 7, 2019 / Control of noxious VOC emissions is a critical and growing problem for the cannabis industry. Communities across the US and Canada are complaining to authorities about the rise of unpleasant odors coming from nearby cannabis production facilities, garnering a poor public image for growers and creating the potential for lawsuits, fines, and regulatory backlash. And lawsuits have been filed - a Colorado court decided that a family who complained about the ''noxious odors'' coming from a cannabis venture next door had sufficient grounds to argue the aroma had hurt their property values, and could therefore sue for triple damages under the federal racketeering laws used to target the Mafia. With cannabis now legal in ten states with more on the way, the odor and VOC issue is garnering significant negative public attention. It may well be one of the toughest problems threatening the industry.
As an article published in The Cannifornian puts it, ''Marijuana odors have triggered lawsuits against cannabis companies. They've also led residents to try to block commercial operations from coming to California, Colorado and the other states where recreational cannabis is legal. Denver has set odor standards for marijuana and many California cities and counties rely on repeated complaints as evidence of a problem. In Santa Barbara County, for example, if county authorities get three odor complaints from a business in a year, the company must take steps to fix the problem. And if the business doesn't stop the stench, the county may revoke local permits.''
With odor and VOC control identified as a leading problem, cannabis growers are starting to share ideas about their industry's odor problem. ''Probably the biggest hurdle now, for everybody involved, is knowing what's available as best practices and what's feasible,'' said Dana Pack with Fogco, an Arizona-based, industry-leading manufacturer of misting systems used to deploy odor and air quality control products in the cannabis industry. As optimal solutions to the odor and VOC problem are identified, this trend toward industry collaboration and sharing will likely accelerate their viral spread and adoption.
BioLargo's Solution - CupriDyne Clean
BioLargo, Inc., (OTCQB: BLGO) initially launched and proved its patented breakthrough odor and VOC control product, CupriDyne Clean, in the $75 billion waste handling industry. Unlike competing products, CupriDyne Clean does not simply attempt to mask, cover up or filter out odors and VOCs, but actually destroys (oxidizes) them. As a more effective and lower cost solution than competing odor control products, CupriDyne Clean has been a paradigm shift for odor control in the waste handling industry. BioLargo reports it has customers in the largest waste handling companies in the United States.
CupriDyne Clean's success in the waste industry has led to recognition and market pull-through in other industries, most recently the cannabis industry.
Company management discusses the move into the cannabis industry in a recent blog post: ''The company's success in the waste handling industry allows it to leverage its considerable expertise and proven product through strategic channel partnerships to rapidly capture a large share of the cannabis odor control market. We intend for CupriDyne Clean to quickly become part of the 'best practices' for mitigating cannabis-related odors and VOCs.''
BioLargo described its entry into the cannabis odor and VOC control market through key channel partnerships to market, sell, and distribute their product under a private label brand, rather than sell directly. In their blog, company management explains that this strategy will result in more rapid uptake of the product through these distributors, allowing the product to secure a dominant position in the growing market as quickly as possible.
Mr. Provenzano, President of BioLargo's subsidiary Odor-No-More was quoted, ''Within the Cannabis industry, we have identified a number of key relationships and are working to finalize agreements with equipment manufacturers, regulatory consultants, key opinion leaders, and marketing partners. Our value proposition is unmatched for odor and VOC control and this is another great example how our platform continues to expand in high value markets.''