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Cannabis federal legalization
Is 2022 the year for it?
The forward-leaning morning newsletter for those
who love all things green
April 9, 2022
Topics: MORE Act, cannabis, Cresco Labs, Target, BMW, Bowery Farms, vertical farming, Traptic, Art Dubai, NFTs
👍Not an April Fool's joke The U.S. House of Representatives on Friday, April 1, 2022 approved the MORE Act which would make cannabis federally legal by removing from the banned controlled substances list. If it passes in the Senate and is signed into law by the president, it would be up to individual states to decide if they want to allow it in their state.
🌿$2 billion cannabis deal The numbers are heating up. Two major U.S. cannabis operators, Cresco Labs and Columbia Care, have agreed on a $2 billion acquisition deal. The deal is expected to close Q4 of 2022 and will result in Columbia Care becoming a part of Chicago-based, Cresco Labs. Columbia Care shareholders will have 35% of Cresco shares.
The deal will help both companies expand their operations across states to spur growth. Cresco Labs is hiring and that's an example of green on green.
Image: House of Saka GIF: AGREEN1
🎯Target-ing sustainability Target has gone fully green at its Vista, California store, when it introduced mega solar panels to power the store. It also built carports with EV chargers so customers with EVs can charge while shopping. Target took other sustainability steps, such as replacing the sales floor lighting with LEDs to reduce emissions. The project is part of Target's net-zero goal, and it will add these environmental upgrades to stores nationwide.
Other businesses are also stepping up their commitment to solving carbon emissions. The AGREEN1 issue from June 14, 2021 covers Walmart's efforts to be using 100% clean energy by 2035.
🚗BMW delivering autonomous cars The Bavarian-based automaker signed a deal with tech companies Qualcomm and Arriver to develop next-generation automated driving solutions that will offer Level 3 capabilities in the second half of 2025. BMW’s Level 3 solutions will allow drivers to occasionally take a break from the steering wheel as the need arises.
BMW's tagline is "The ultimate driving machine" and looks like they are redefining that meaning.
Image: Traptic, goodlife eats, umd
🍓Vertical farming adds robots Bowery Farming may soon begin to utilize Traptic's technology in its vertical farms. The California-based robotics company, Traptic is a major hero in the agriculture robotics industry, and many California farmers have utilized its robotics to harvest their crops, mainly strawberries. Traptic's technology has helped them to overcome labor shortages and drive productivity.
New York-based Bowery Farming intends to acquire Traptic's technology to create efficiency and drive productivity and growth as it expands. Bowery is already the largest vertical farming company in the U.S., and with the Traptic partnership, year round locally grown strawberries will be a reality. "I am thrilled to join forces with Bowery, the world-class leader in smart indoor farming, on their mission to democratize access to local, more sustainable, and pesticide-free produce," said Lewis Anderson, CEO and Co-Founder of Traptic.
🎨Art Dubai Easily one of the world’s most luxurious cities with state-of-the-art architecture, Dubai now embraces cryptocurrency and NFTs. Its 2022 annual contemporary art fair, Art Dubai, held March 3-5, featured multiple digital art pieces (NFTs) created by local and foreign artists. One of the NFTs sold for 50 Ethereum, roughly $127,000. Not too shabby!
In December 2021, Dubai signed a cooperation deal with Binance to establish an industry hub for international digital assets and develop cryptocurrency regulations in the UAE. The Emirate aims to spur economic growth through digital innovation. See AGREEN1 issues March 8, 2021 and March 29, 2021 for reporting on the rise of Beeple and NFTs.
Thanks again for being you. Until the next issue, be sure to add more green to your life!
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