Hero Technologies, a cannabis company focused on a “seed-to-sale” vertical integration strategy, announced July 26 that it supports legislation in Michigan aimed at expanding and tightening rules for producing and using legal marijuana, the company said in a press release. The company also reaffirmed that its plans for large-scale cannabis cultivation in Michigan are expected to fully comply with all state regulatory requirements.
In September 2021, Hero Technologies’ subsidiary, BlackBox Systems and Technologies LLC, achieved pre-qualification approval for an Adult (recreational) and Medicinal Use cannabis license under the Michigan Regulation and Taxation of Marihuana Act.
The company’s plans for Michigan include a proprietary aeroponic growing system for greenhouses with state-of-the-art quality and safety controls. The company expects to produce high-yield cannabis crops year-round for both recreational and medical use, and plans to market its products through distribution, retail, and dispensary operations.
The cannabis market in Michigan is large and growing rapidly. In the first six months of 2022, legal cannabis sales increased 27 percent over the same period in 2021, surpassing $1 billion. Driven by sales for adult recreational use, which increased 59 percent in the first six months of 2022, full-year sales of legal marijuana in Michigan in 2022 are expected to reach approximately $2.8 billion.