SEATTLE, July 17, 2019 /PRNewswire/ -- TriGrow Systems, a leading end-to-end cultivation solutions provider, announced today the launch of TriGrow Capital, a division that will help leading operators finance the growth of their businesses through both capital and technology resources.
The new venture aims to solve some of the funding and growth challenges unique to the cannabis industry, by providing equipment financing options and enabling companies to scale rapidly with more balance sheet flexibility.
TriGrow Capital recently provided Seattle-based producer and processor Hannah Industries $4 million to expand the company's use of TriGrow Systems. The new Hannah cultivation facility will increase annual production by an estimated 6,800 pounds of cannabis.
"We're delighted to be able to partner with a fellow Seattle company in our first TriGrow Capital venture," says TriGrow's Chief Business Development Officer and Head of TriGrow Capital Richard Weinstein. "Hannah is home to multiple leading brands in Washington State, and is the type of operator we like to back and help. We're looking forward to this next step in growing the company together."
Hannah Industries owner and co-founder Jason Whitney said TriGrow Capital was an ideal partner to assist with expanding its offerings in the state.
"With TriGrow Capital we have the financing and support to expand our business to match the ever increasing demand for our products. They understood our business and provided an innovative financing solution that helps us reach our goals," Whitney said.
"Not only have we been impressed with TriGrow's ability to produce high quality flower at low cost, but the consistency of produce and process they bring to the table is something I have never seen in this industry," Whitney added.
TriGrow is an ancillary company providing end-to-end cultivation solutions in which each element has been designed and custom engineered to work seamlessly together to produce the highest quality consistent flower with the lowest associated operating cost. TriGrow's supportive ecosystem includes Systems, Capital, Supply and Brands.
About Hannah Industries:
Hannah Industries is a 30,000 square foot I-502 cannabis facility located in the state of Washington. In operation for over three years, Hannah is currently generating $6M in annual revenue. They have created a vehicle for product distribution that reaches over 50% of the retail market. Currently, Hannah Industries distributes a portfolio of brands to over 200 store locations across the entire state of Washington.
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