First harvest for company angling to be a major player in Michigan's cannabis business
A company angling to be Michigan’s largest cannabis business harvested its first crop this week.
At Green Peak Innovations' south Lansing grow operation, hair-net wearing workers are spending this week harvesting 600 to 800 pounds of marijuana.
“We are bringing a tremendous amount of production to the market. And some of it's ready to go to the market in the next couple of weeks,” says CEO Jeff Radway.
Radway says 50% of Michigan’s medical marijuana dispensaries have committed to carrying Green Peak’s Skymint brand. The company is also planning on opening 19 retail stores.
While this is the company’s first crop of marijuana to be harvested, this building will soon transition to its Research and Development division.
The company is moving into a new facility near Lansing that's expected to produce up to 30,000 pounds of marijuana annually, and they’re already planning to expand that facility.
The reason is simple: business is expected to rise sharply.
In November, Michigan voters approved recreational marijuana use for adults. Adult use is actually already legal. But state regulation for commercial sales for recreational use is still a year away.
Green Peak is among the businesses prepping for Michigan’s expansion of legal marijuana sales for recreational use in 2020.
When asked if Green Peak was positioning itself to be the "800 pound gorilla" in Michigan’s cannabis industry, CEO Jeff Radway demurred.
“I don’t know what primate we will become,” Radway said with a laugh. “We’re here to supply medical cannabis and ultimately, adult recreational use.”