FutureLand Corp (OTCMKTS:FUTL) has closed a joint venture deal to buy Amps Electric, Inc., a leading Solar Company firm, with Greenleaf Holdings, LLC. The two companies acquired 80% of Amps Electric, Inc. which was concluded on September 6, 2017.
Cameron Cox, the CEO of FutureLand, reported that Solar Energy has often been considered as the holy grail of energy sources, and recorded considerable growth in the preceding ten years. He is extremely thrilled about the direction of the firm and being a part of unravelling the industry power needs.
One fact about cannabis that is often ignored by the public is just how much requirement of power exactly is. Growing in the wild, pot just takes up as much sunlight as it requires. However, for supplemental and indoor power needs cultivators have had to keep pace with the crop.
A study by scientist Evan Mills in association with the Lawrence Berkeley National Lab, stated that legalized indoor marijuana cultivation operations constitute for 1% of total electricity use in the United States, at a cost of $6 billion per year. And this figure is rising fast as production of recreational and medical marijuana continues to get ground throughout the nation.
Amps Electric, Inc. deals in general contracting and solar energy. Of course, the firm supplies solar energy to any power requirement, but cannabis is set to be a huge addition to their exploding portfolio. Amps presently has $5.70 million is revenue and believes it can record $7 million to $10 million by the close of the year 2017.
FutureLand is anticipating to be able to book notable revenues on its year end financials supporting stockholder value through this deal. But more about the prospect; due to the nature of many cannabis cultivations, being separated on the one hand, and demanding to function self-sufficiently on the other, it makes sense for company to include this derivative within its portfolio of offerings.