Indoor Harvest Corp. (OTCQB: INQD), a Houston-based manufacturer of commercial aeroponic systems that can be used to grow cannabis, signed an investment deal with Tangiers Global for an equity investment of up to $2 million.
Tangiers Global is located in San Diego and provides funding to small and microcap public companies.
According to a new release, Indoor Harvest is finalizing plans to develop facilities in Arizona, Colorado and Texas.
In Arizona, the company is planning a “a state-of-the-art demonstration facility” to highlight “next-generation cultivation technologies and methods for cannabis production.”
Indoor Harvest claimed its efforts could result in producing marijuana flower for as low as $125 a pound by reducing energy, labor and fertilizer costs. Indoor Harvest also claimed aeroponics could reduce or eliminate the need for pesticides.
Indoor Harvest also recently acquired Alamo CBD LLC, a pending applicant for Texas’ CBD-focused program.