As Green Technology Solutions Inc (OTCMKTS:GTSO) continue to invest more in development of new products for the fastest growing U.S. marijuana industry, the industry for cannabis edibles in the state of Colorado is exploding. As per the first annual report prepared by Marijuana Enforcement Division in Colorado, the edibles are receiving a strong response from cannabis buyers. They have already become a massive hit in legalized marijuana industry. The report highlighted that more than five million edibles were sold last year.
Green Technology is set to make the most of growing cannabis industry. It has already signed a joint venture deal with innovative and popular cannabis edibles company Elevated Industries. The new joint venture will help it to offer new edible products developed for increasingly sophisticated marijuana industry and consumers and businesses in Colorado and beyond.
The management view
Wallace W. Browne, the CEO of Green Technology Solutions Inc (OTCMKTS:GTSO) said that the explosion of consumers’ interest in edibles coming from a broad demographic can be termed as a biggest surprise in the cannabis industry. After extensive research, the management of Green Technology is confident that edible products and services aimed at chefs and consumers hold the most potential. They can lead to continued growth in both adult-use and medical marketplaces.
The edibles now contribute almost 45% of cannabis sales in Colorado. The demand for cannabis products is on the rise. There is still a lot more market left that can be captured with innovative products and technology. Green Technology wants to introduce new innovative products in order to capture a significant market share of the growing edibles industry. It will work to reduce the loopholes and weaknesses associated with edibles. In last week, Green Technology announced that it acquired a Class 5 clean room in the state that will serve as a testing center for hygienic and quality control.