The Verdes Foundation, a high-grossing medical marijuana producer in New Mexico, installed an “energy filter” technology the company hopes will cut its electricity costs by up to 37% and also reduce its carbon footprint.
The sky-high energy costs of cannabis cultivation continue to be such a major financial drain and environmental stain for the industry that growers are looking to bring down those costs.
Verdes, a vertically integrated grow-retail marijuana business with two dispensary locations in New Mexico, on Wednesday installed the Smart Energy Filter, a new technology system from Line Loss Pro of Boston, according to Albuquerque Business First.
The grow company, which grossed $1 million in the first quarter of 2016, will pay Line Loss based on the monthly energy savings from the filter system, Albuquerque Business First reported. Specifically, Verdes will pay Line Loss 50% of its savings from the previous month’s usage.
Line Loss says its copper-based, electro-magnetic technology, which comes in a small box that can be attached to a site’s electrical system, reduces “harmonics.” Harmonics is a “noise” that can affect power quality, Line Loss says.