In this episode of My TechDecisions Podcast, host and TD Managing Editor Jonathan Blackwood speaks with Marco Hegyi, CEO of GrowLife Inc. The discussions centers on automation, data, and analytics in manufacturing, specifically within the cannabis industry.
Marco Hegyi served as Senior Director of Global Product Management/Search Marketing at Yahoo starting 2006. Prior to Yahoo, he was at Microsoft leading program management for Microsoft Windows and Office beta releases aimed at software developers from 2001 to 2006.
Marco is a tech and business guru, earning his success by predicting trends before they happen. It was this foresight that allowed Marco to see supplying the ‘picks and shovels’ for cannabis cultivation would end up being more profitable than the growing itself. Once at Kirkland, Wash.-based GrowLife, it was this same foresight which lead him to predict the daunting oversupply issue facing the cannabis industry: wholesale cannabis prices are crashing nationally across the U.S. with the national average price for a pound of cannabis averaging $1,789 in 2016 and falling to $1,562 by the end of 2017.
Because Marco knew the wholesale price of cannabis would drop, he started GrowLife Innovations; a division of the company dedicated to developing a vertical growing system that reduces the cost of cannabis production to a mere .35 cents a gram. They’ve filed a patent on their proprietary vertical grow room and are it is currently undergoing a Proof of Concept (POC) study with a licensed growing facility in Colorado.
Now, Marco is focused on bringing the Company’s proprietary growing technology to market, which has already shown an astounding 76% savings in energy during the POC study. He is also passionate about cannabis businesses having the same financial rights as other companies, recently speaking to TheStreet about uplisting as the leading ‘picks and shovels’ company for the cannabis industry.
Check out this interview if you’re interested in learning more about how data, analytics, and automation can be introduced into manufacturing facilities – not just for marijuana.
Listen to this podcast using the embedded player below.