American Green, Inc. (OTC:ERBB) Annual Revenue Increase Estimated Up 60% to $3,200,000 at the Sweet Virginia Cannabis Grow Facility

Rhea-AI Summary

American Green, Inc. (OTC:ERBB) announced significant improvements to its "Sweet Virginia" grow operation, projecting annual revenue to rise to $3.2 million, a 60% increase from $2 million. Following the hiring of Jacob Cohen as Director of Cultivation, plant yield has already increased by 40%. The company is upgrading to advanced Efinity LED lighting, expected to enhance production by 77% while reducing energy costs by 25%. Completion of enhancements is scheduled for March and April 2022.

Positive

• Projected annual revenue increase to $3.2 million (60% growth).
• 40% improvement in overall plant yield due to operational changes.
• Upgrade to Efinity LED lighting expected to increase production by 77%.

Negative

• None.

PHOENIX, AZ, Jan. 18, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – American Green, Inc. (OTC:ERBB) announced today that the improvements it has made to its 12,000 SF “Sweet Virginia" grow operation are expected to increase the estimated annual revenue to $3,200,000 per year, up sixty percent from approximately $2,000,000 per year.  American Green has already started to realize increased revenue from the improvements that were made during the 4th quarter of the calendar year.    

American Green president, David G. Gwyther, said, “12 weeks ago we hired Jacob Cohen, previous Cultivation Manager at High Grade AZ., as American Green’s Director of Cultivation. Mr. Cohen has already made some amazing improvements to our top-line revenue growth and to the existing layout of the Sweet Virginia Grow. By implementing his plant management techniques, and combining plant science, we have been able to achieve peak efficiency from the original grow equipment and systems that were installed when we opened the facility over 3 years ago. Mr. Cohen has also been training our staff as he has been implementing his operational improvements. These improvements are already responsible for a 40% increase in overall plant yield.”

Bryan Croteau, American Green’s Director of Operations, said, “We were so impressed with the progress that Mr. Cohen made in such a short time frame that we decided to improve the Sweet Virginia Grow more by adding the newest technologically advanced equipment, to maximize our profit potential. We are already underway making facility-wide lighting changes. Until now, we have been using single-spectrum Ceramic Lights, and we are now moving to Full Spectrum top-of-the-line Efinity LED lighting. 

“The lighting we’ve sourced is a 1-to-1 direct replacement for the industry-standard “Double-Ended HPS” lights. The new LED lights will keep our operational costs down significantly. Our new Efinity lights are the highest gram-per-watt producing lights available to the market at this time, and we anticipate an approximate 77% further increase in overall production. These LEDs operate at a 15% reduction in electrical usage, combined with an overall heat load reduction of 35%, and the overall electrical savings can be expected to be in the 25% range. Phase one of the project is estimated to be complete by March 1st, and phase two is expected to be complete by April 26th of this year. The exact same Efinity LED lights will also be used in American Green’s newest 40,000 SF “Cypress Chill” grow facility.”

A live look-in link to our “Sweet Virginia” grow is provided below. The feed is operational most days during regular Arizona business hours. Archives of hundreds of hours of footage from the grow operation can also be found on youtube. 

https://www.youtube.com/watch?v=dnHWubrgl1I 

Shareholders and interest holders may also stay current with American Green Updates:

American Green’s Main Website at www.americangreen.com

Live Sweet Virginia Grow Footage https://americangreen.com/live/   

American Green’s CBD store at www.americangreencbd.com    

Twitter: @American__Green (two underscores), or

Facebook: https://www.facebook.com/americangreenusa

Instagram: https://www.instagram.com/americangreenusa/

About American Green, Inc.

In 2009, American Green, Inc. became America’s second publicly traded company in the cannabis sector. American Green now, with its more than 50,000 certified beneficial shareholders, is one of the largest (in shareholder count)  in the cannabis sector.  American Green's mission is to lead the cannabis and premium CBD industry. 

Leveraging our team of professionals in cultivation management, manufacturing, extraction, wholesale, retail, and community outreach, we strive to develop sustainable

initiatives in the cannabis-adjacent and CBD industries, laser-focused on adding company and shareholder value.

For more information - 
Contact:
American Green, Inc.
Investor Relations
2902 W. Virginia Ave
Phoenix, AZ  85009
480-443-1600 X555
investor@americangreen.com

NOTES ABOUT FORWARD-LOOKING STATEMENTS

Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's Securities and Exchange Commission reports and filings. Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, be should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.

FAQ

What are the projected revenue figures for ERBBD,ERBB in 2022?

American Green anticipates annual revenue to reach $3.2 million, up 60% from the previous $2 million.

How has American Green improved its Sweet Virginia grow facility?

Improvements include the hiring of Jacob Cohen as Director of Cultivation and the implementation of advanced plant management techniques.

What is the expected impact of the new Efinity LED lighting on production?

The new Efinity LED lighting is expected to increase overall production by approximately 77%.

When are the upgrades to the Sweet Virginia grow facility expected to be completed?

Phase one is expected to be completed by March 1, 2022, and phase two by April 26, 2022.