SAN JOSE, Calif.--(BUSINESS WIRE)--As Green Technology Solutions (OTCBB:GTSO) continues to develop new products for the rapidly growing U.S. cannabis industry, the market for cannabis edibles in Colorado is exploding. According to the first annual report by Colorado’s Marijuana Enforcement Division (MED), edibles are a massive hit with cannabis buyers, with a grand total of nearly five million edibles purchased last year.
GTSO has already formed a joint venture with innovative cannabis edibles developer Elevated Industries in order to deliver new products tailored to increasingly sophisticated cannabis businesses and consumers in Colorado and beyond.
“The explosion of interest in edibles from a very broad demographic of people was the cannabis industry’s biggest surprise of the Colorado rollout,” said GTSO CEO Wallace W. Browne. “After extensive research, we are now convinced that edible products, as well as services targeting edibles chefs and consumers, have the most potential for continued growth in both medical and adult-use marketplaces.”
With the Denver Post reporting that edibles now account for roughly 45 percent of Colorado’s cannabis sales, the demand for such products is clear. But there remains considerable room for improvement in edibles technology and products. GTSO is currently working to develop innovative new ideas to capture a share of the booming edibles industry by helping to lessen or eliminate the drawbacks currently associated with edibles. Last week, the company announced its acquisition of a Class 5 clean room in Colorado that will serve as a center for hygienic testing and quality control services to cannabis growers and retailers.
As the nationwide market for cannabis continues to grow, GTSO plans to keep building new tools to help wholesalers and retailers guarantee their edible products’ potency, consistency and safety to their customers.
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc., which provides business support, delivery system products and horticultural technology support, continually introduces new products and services, enabling it to compete alongside GW Pharmaceuticals (OTCBB: GWPRF), INSYS Therapeutics, Inc. (NASDAQ: INSY) and ENDEXX Corp. (OTCBB: EDXC) and others in a booming industry expected to be $10 billion by 2018. A growth-oriented company, Green Technology Solutions Inc. (GTSO) explores the fast-growing cannabis market for resources, including but not limited to rare earth elements, precious metals and herbal supplements. For more information, visit www.gtsoresources.com/investors.
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