Denver, CO, Sept. 27, 2017 (GLOBE NEWSWIRE) -- FutureLand Corp. (OTCPinks: FUTL), a leading provider of strategic real estate investment, grow facilities and material solutions to the medical and recreational global cannabis industry, announced today that it has closed a joint venture agreement to acquire Amps Electric, Inc., an established Solar Company business, with Greenleaf Holdings, LLC. GreenLeaf Holdings and FutureLand bought 80% of Amps Electric, Inc. which closed on Sept. 6th, 2017.
Cameron Cox, CEO of FutureLand Corp. said, "Solar Energy has often been seen as the “holy grail” of energy sources and it has come a very long way in the last 10 years. I am very excited about the direction of the company and being a part of solving the industry power needs.”
One truth about cannabis that is often overlooked by the public is just how power hungry it really is. Growing in the wild, marijuana just sucks up as much sunlight as it needs. But for indoor and supplemental power needs growers have had to keep pace with the plant. A study by scientist Evan Mills, with the Lawrence Berkeley National Laboratory, revealed that legalized indoor marijuana-growing operations account for 1% of total electricity use in the US, at a cost of $6bn per year. And this number is rising rapidly as production of medical and recreational marijuana continues to gain ground throughout the United States.
Amps Electric, Inc., a Massachusetts company, deals in solar energy and general contracting. Of course, the company supplies solar energy to any power need, but cannabis is going to be a huge addition to their erupting portfolio. Amps currently has $5,700,000 is revenue and believes it can achieve $7,000,000 to $10,000,000 by the end of the year 2017. FutureLand is expecting to be able to book substantial revenues on its year end financials boosting stockholder value through this transaction. But more about the opportunity; because of the nature of many cannabis grows, being secluded on the one hand, and needing to operate self-sufficiently on the other, it makes a lot of sense for FutureLand to include this derivative within its canopy of offerings.
In 2014, a report by the Northwest Power and Conservation Council estimated marijuana operations could grow Washington electricity demand between 60 MW and 160 MW over the next 20 years. Regional demand, including producers in Idaho, Montana, Oregon and Washington, could reach almost 250 MW by 2035.
In 2015, Utility Dive reported that Pacific Power experienced 7 localized outages due to demand overloads attributed to marijuana grow operations.
“This is cutting edge technology that is really going to bring down the costs of some major hydroponic grow operations here in the states”, said GreenLeaf principal Maury Winnick. “John Bianchi, CEO of Amps Electric, Inc., is a great owner/operator, highly skilled and knowledgeable, and we are pleased to join forces with him to help create shareholder value within FutureLand Corporation.”
About FutureLand Corp.
FutureLand Corp., a Colorado company, is a cannabis and hemp specialty zoned land leasing company formed to capitalize upon the emerging global cannabis market. FutureLand, focuses on target acquisition, zoning, license fulfillment, site plan preparation and financing of cannabis or hemp grow facilities throughout the United States. We give growers the opportunity to grow. We monetize through leasing the land, leasing the structures on the land, financing interest revenue and management fees associated with cultivation centers. FutureLand retains ownership of all the land and the structures. FutureLand leases to both medical marijuana, retail marijuana as well as industrial hemp growers. FutureLand does not currently grow, distribute or sell marijuana. To request further information about FutureLand, please email us at info@futurelandcorp.com, log onto our website at http://www.futurelandcorp.com, or visit us on FB @ futurelandcorp and Twitter @futurelandcorp.
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