Bright Green (NASDAQ:BGXX) is a vertically integrated cannabis company and multi-state operator in the US and internationally. The company was incorporated in 2019 and is based in Fort Lauderdale, Florida. Bright Green Corporation went public via a direct listing on the NASDAQ in May 2022.
Bright Green Corporation grows, manufactures, and sells cannabis and cannabis-related products legally under federal and state laws for research, pharmaceutical applications, and export. By the end of 2022, the company had 4 patents under enforcement and 17 pending with more expected each year.
Unlike other cannabis companies in the budding industry, Bright Green Corporation has a contract with the US Drug Enforcement Administration that allows it to produce cannabis and cannabis products legally at both the state and federal levels. The contract permits Bright Green Corporation to supply approved researchers with THC-bearing cannabis for the purposes of medical research. The contract also permits the company to make and market therapies and treatments that are derived from said research and to export cannabis and cannabis products internationally.
The true value of the agreement with the DEA is that Bright Green Corporation can produce and market cannabis to any pharmaceutical or research company with a Schedule 1 license. This means big pharmaceutical companies can get ahead of the curve and begin their work on cannabis and cannabinoid medicines and therapies before cannabis is legalized at the Federal level.
The business is built around a state-of-the-art production facility that allows 24/7/365 production of cannabis and derivative products. The 22-acre facility is fully automated to ensure consistent quality across all product lines and processes. The facility remodel was completed in mid-2022 with production beginning later that year. Two more 55-acre facilities are in the works and, once completed, will make the company the largest federally legal producer of cannabis for the research market.
Some of the benefits of the Bright Green Corporation process and product include consistent tissue culture and superior genetics which is a must for research quality cannabis. Consistent tissue culture is ensured by using small clippings to grow fully mature clones of the original plant in highly controlled environments versus the risk of genetic contamination or mutations via seeds. Superior genetics means Bright Green Corporation’s core strains were bred to target qualities including cannabinoid homogenization (consistent distribution throughout the plant), mildew resistance, and plant architecture as well as high levels of cannabinoids.
The Bright Green Process also means increased yields, full-year/year-round cultivation, and improved profitability for commercialized products. The company operates under full Good Agricultural and Collection Practices guidelines and is compliant with the FDA’s Good Manufacturing Process mandate as well as with the USDA for full operations within the US.
