Connecting Producers And Users Of Hydroponic Supplies

Connecting Producers And Users Of Hydroponic Supplies

Connecting producers and users of hydroponic supplies with Justin Pierce, Principal at Hydroponics, Inc. Our next guest’s company is a premier provider of global agricultural supplies, logistics, and procurement for large scale, commercial farms. Hydroponics, Inc. is connecting producers and users of hydroponic supplies around the world through origination, trading, and distribution, as well as offering a range of analytics and financial solutions. CEO Ken Alston stated to CannabisTech “before this became a crisis we had started to see that ports were closing and factories were laying off workers in China. What we anticipated is that there were going to be material shortages or backorders of some non-critical grow components.” We talk about if Justin thinks China can still play a role in the cannabis supply chain going forward post-pandemic.

Connecting Producers

Back in September, Hydroponics announced that it would deploy up to $75 million to acquire tangentially-related service businesses over the next 24 months through a special acquisition fund. You said about this strategic fund in a press release ”We are a profit center. By outsourcing to us for procurement, cultivators can open up vital square footage at their facilities while eliminating in-house personnel dedicated to procurement and logistics.” Now more than ever, the professionalization of the supply chain is vital for the health of the cannabis industry. Cultivators who leverage Hydroponics, Inc.’s expertise and knowledge to help them reduce costs will increase their chances of avoiding bankruptcy in the near term, which may be enough to ensure their survival once the U.S. economy passes through its darkest days.