GrowGeneration To Invest In Total Grow Control Expanding Controlled Environment Agriculture Offering
Hydroponics innovator GrowGeneration Corp. (NASDAQ:GRWG) reported Tuesday a strategic investment in Total Grow Control, a Houston-based controlled environment agriculture (CEA) engineering and manufacturing company. Total Grow Control specializes in facility design, nutrient delivery systems, water filtration solutions, and a complete integrated control platform operated from a cloud-based user interface.
Terms of the deal or the investment amounts weren’t disclosed.
As part of the transaction, GrowGen has the right to exercise an option to purchase 100% of the assets of Total Grow Control. Total Grow Control's programmable control systems and software help growers automate their operations for efficiency, consistency and uniformity. Total Grow Control's signature offering, the Eden Environmental Control System, offers a comprehensive and easy-to-use customer interface that communicates with new and existing atmospheric controls and lighting systems.
"More than ever, commercial growers are turning to technology to streamline and optimize their operations," said Darren Lampert, GrowGen's CEO. "Total Grow Control's plug and play systems and software, nutrient delivery systems, and water filtration solutions are unmatched, which is why they're the perfect complement to GrowGen's complete commercial cultivation outfitting offerings. We'll continue to acquire best-in-class technology and platforms as we build out our commercial services and offerings."
Total Grow Control's PLC systems control temperature, humidity and lighting remotely, while also collecting data trends to duplicate conditions.
"Total Grow Control is excited to partner with GrowGeneration to offer the benefits of automation for all of GrowGeneration's customers,” said founder and CEO of Total Grow Control Derek Oxford. “GrowGeneration's size and diverse customer base is just what Total Grow Control needs to offer solutions to a wide variety of growers. Our joint efforts will help all types of growers create efficient, uniform outcomes while saving needed resources."
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Price Action
GrowGeneration’s shares were trading up 4.16% at $23.02 at the time of this posting Tuesday afternoon.
Photo: Courtesy of Ndispensable on Unsplash
