Made in America: Bright Green Corporation to Expand New Mexico Cannabis Facility
Bright Green Corporation (Nasdaq: BGXX) today announced it will undertake a $250 million construction project to expand the Company’s current research, production and extraction processing facility located in rural Grants, New Mexico.
The company recently obtained regulatory approvals for the production of Schedule I and II controlled substancesfrom the DEA and the State of New Mexico Board of Pharmacy. The expansion will facilitate the production and manufacturing required to process the active pharmaceutical ingredients (API) and to make generic prescription drugs, supporting Bright Green’s “Drugs Made in America” initiative.
Groovy Singh, CEO of Bright Green Corporation, said, “Bright Green is the first company in almost a century to receive approval to produce these controlled substances in the U.S., so this is a new concept for the U.S. pharmaceutical industry. The opportunity to mitigate the national security risk associated with dependency on foreign imports—manufactured in countries that may have different ideologies and quality standards than are practiced by U.S companies—is too substantial to ignore.”
Highlights
Bright Green’s cutting-edge bespoke greenhouse project incorporates state of the art technology, is powered by solar energy, and is designed with a modular approach.
The expansion is expected to add seven million square feet of manufacturing and production capabilities. The Dalsem Agreement provides that Dalsem will construct the additional facility to its specifications and build them in a modular fashion.
Bright Green is finalizing negotiations for services from the city, landowners’ land parcels and state permitting for the construction and occupancy.
The company stated that the fully integrated approach in rural Grants, New Mexico will substantially reduce the costs of drugs to both the state and all Americans.
About Bright Green Corporation
Bright Green is one of the very few companies selected by the New Mexico Board of Pharmacy and the US government for the production, API and drug manufacture, market and distribute Schedule 1-V plant-based drugs API including opium, cannabis and cannabis-related products for research, pharmaceutical applications, and affiliated export. Our approval based on already agreed terms from the U.S. Drug Enforcement Administration gives us the opportunity to advance our vision of improving quality of life through the opportunities presented by cannabis-derived therapies. To learn more, visit www.brightgreen.us.
