Red White & Bloom To Install 30 Grow Pods, Expecting Yield Of $30M In Revenue

Multi-state cannabis operator Red White & Bloom Brands Inc. RWB (OTCQX: RWBYF) has officially entered Phase 2 of its Florida expansion plan ahead of schedule. The company confirmed this week’s delivery of 30 modular grow pods to its Florida subsidiary, Red White & Bloom LLC (RWBFL), which has a cultivation location in Apopka. The pods are expected to help bring in $30 million in annual revenue. 

Phase 2 started with the commissioning and OMMU approval of five pods that subsequently were loaded and are growing plants. RWBFL is fast-tracking the remaining 25 pods and expects to have them operational no later than December 1st.

The pods provide an additional 19,200 sq. ft. of indoor cultivation space that will produce high-quality flower.

“Our Red White & Bloom Florida team has been on time, on target and under budget with the execution of every step of our aggressive three-phase development strategy for our two cultivation centers in Florida,” Brad Rogers, CEO of Red White & Bloom said in a statement. “With the delivery of the grow pods and anticipated launch date of December 1st, we are ahead of schedule and on our way to adding $30 million in revenue annually from the pods. “

RWBFL achieved another milestone on November 2: the production of its first batch of chocolates from its new edibles kitchen in Sanderson.

Key RWB-Florida development phases:

• Phase 1- Complete - Build-out of Apopka Greenhouse. Received regulatory approval to commence operations on Sept. 29, 2021. Growing commenced Sept. 30, 2021 with projected annual revenue in excess of $10 million.
• Phase 2 – Installed and commissioned the first five pods. Received OMMU approval on Oct 22nd and loaded the first two pods on Oct 27th. Each pod will produce 63 lbs. of sellable product per harvest. The 30 pods will produce 10,000 pounds of high quality flower per year that will generate $30 million in additional revenue.
• Phase 3 – On Schedule - Additional cultivation capacity in Sanderson. Building out the remaining space in Apopka so RWBFL maximizes both facilities to generate profitable revenue.

Price Action 

Red White & Bloom’s shares were trading 3.06% lower at 48 cents per share at this writing, late Thursday morning.

Photo: Courtesy of Jeff W on Unsplash