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Roto-Gro International joins ASX list of cannabis-tech companies

Roto-Gro produces an automated hydroponic growing system.
Roto-Gro International joins ASX list of cannabis-tech companies
Australia legalised medical cannabis on 1 November 2016

Roto-Gro International (ASX:RGI), a Canadian cannabis-tech company has been admitted to the ASX, and has become the latest player to join the list of cannabis based companies on the ASX.

Roto-Gro produces a fully automated rotary hydroponic system (a method of growing plants without soil) which can be used to grow up to 420 cannabis plants.

Australia legalised medical cannabis on 1 November 2016.

The new market in Australia is a significant opportunity for peripheral industries, specifically those that help grow, extract and distribute cannabis products.

Roto-Gro will also target the Canadian market and other markets that allow the lawful production of cannabis.

The Roto-Gro System, in which plants rotate around a single light source and receive nutrients from a stand-alone reservoir, uses about half the energy of traditional growing systems and 80% less water.

The unit could be used for growing other plants in addition to its utility for cannabis growers.

The Roto-Gro System was designed and manufactured in Canada in late 2006 and has undergone continuous improvement since that date.

Between 2007 and 2012, about 600 units have been sold worldwide by Canadian distributor NutriLife Products.

Last week, cannabis medicines company Auscann Group Holdings (ASX:AC8) was admitted to the ASX.

It follows a rush of medical cannabis stocks to join the ASX including Zelda Therapeutics (ASX:ZLD), MGC Pharmaceuticals (ASX:MXC) and Creso Pharma (ASX:CPH).

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