Washington, July 26, 2018 (GLOBE NEWSWIRE) -- New Frontier Data, the global authority in data, analytics and business intelligence in the cannabis industry, in partnership with Scale Microgrid Solutions and Resource Innovation Institute, is producing the most comprehensive analysis of current energy consumption in today’s fast growing and quickly evolving cannabis industry. The study will examine cultivators’ and operators’ energy consumption across North America and will provide operational insights and cost indicators that can immediately be used to assess both the efficiency and profitability at the root of the cannabis ecosystem of an operation.
“Data is the basis to any business’ ability to optimize, if not to measure efficiency and profitability. In the cannabis industry, where electricity is the second highest expenditure in a cultivation operation, lowering energy costs can make the difference in whether a business survives in this increasingly competitive environment. Wholesale pricing has now dropped by over 50% in most key markets across the United States; having the ability to manage cost could not be more timely for both new and existing businesses touching the plant,” said Giadha Aguirre De Carcer, New Frontier Data CEO and Founder.
“Baseline usage data is the key for cannabis producers to see where they currently stand, and to help them make decisions about best practices and technology upgrades that drive a lower cost per pound,” said Derek Smith, Executive Director, Resource Innovation Institute. “The data will also help local governments and utilities provide incentives to help reduce energy use by this new industry.”
"As growers and their regulators become increasingly aware of the cannabis industry's energy footprint, a lack of data-driven analysis has consistently hindered efforts to mitigate this issue. We are excited to be a part of this groundbreaking effort to quantify the economic and environmental impacts of the industry's energy practices, and we hope this report will serve as the foundation of a thoughtful and productive dialog moving forward." said Ryan Goodman, Scale Microgrid Solutions CEO.
Using data compiled from Resource Innovation Institute’s (RII) non-profit Cannabis PowerScore tool, New Frontier Data, Scale Microgrid Solutions and RII will analyze the North American cannabis market for its energy consumption and will provide insights on the following areas:
- Average energy usage per square foot of flowering canopy and per gram produced across a range of cultivation settings and geographies.
- Energy costs and carbon footprints across a range of cultivation settings and geographies.
- What defines an efficient cannabis cultivation operation?
- What approaches can be used to improve cannabis’ energy economics?
Investors will be able to assess investment opportunities and determine how efficient those opportunities are in their operation. Regulators will now have the broadest benchmark associated with current cannabis energy and resource usage. Finally, operators can determine how they compare to the rest of the industry when it comes to energy use and efficient cultivation.
Are you a cultivator and would like to participate in the energy study? Go to CannabisPowerScore.org.
About New Frontier Data:
New Frontier Data provides objective, rigorous and comprehensive analysis and reporting about the nascent and underserved cannabis industry worldwide. New Frontier Data’s analytics and reports have been cited in over 65 countries around the world to inform industry leaders, investors, policymakers and others. New Frontier Data, the premiere and only Big Data shop in the sector, looks beyond plant cultivation and distribution to raise the industry bar and improve visibility into what will inevitably soon be a mature and more complex global market. Founded in 2014, New Frontier Data is headquartered in Washington, D.C. and has additional offices in Denver, Colorado.
New Frontier Data does not take a position on the merits of cannabis legalization. Rather, its mission and mandate are to inform cannabis-related policy and business decisions through rigorous, issue-neutral and comprehensive analysis of the legal cannabis industry. For more information about New Frontier Data please visit: www.newfrontierdata.com.
About SMS: Scale Microgrid Solutions is a distributed energy company that specializes in commercial and industrial energy projects that utilize solar PV, cogeneration, battery storage, and backup power. SMS is particularly focused on solving the energy challenges of the controlled environment agriculture, indoor farming, and cannabis industries.
About Resource Innovation Institute:
As an objective nonprofit organization, Resource Innovation Institute (RII) quantifies the natural resource impacts of regulated cannabis and points the way to an efficient industry future through proprietary tools such as the Cannabis PowerScore. The Cannabis PowerScore is a 20-minute survey that helps cultivators find ways to maximize energy efficiency while optimizing plant yields, consistency and quality. RII serves our grower members by supporting them to make resource-efficient cultivation decisions. In addition, we help stakeholders, governments and utilities make sense of the resource impacts of cannabis, its integration into communities, and how to productively solve real-time, resource-related market challenges. Through events such as RII’s Efficient Yields grower-led workshop series, we create venues for the exchange of education and best practices with a focus on establishing industry standards that drive conservation and sustainability. Together, we are building a brighter cannabis future. Visit our website at ResourceInnovation.org. Follow us on LinkedIn, Facebook, Twitter and Instagram.
For more information about RII, please contact, Shawna McGregor of Grasslands: A Journalism-Minded Agency on behalf of Resource Innovation Institute, shawna@mygrasslands.com, 917-971-7852.
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