The project will double the size of the Pennsylvania-based medical cannabis growing facility to accommodate the company’s historic growth
CINCINNATI, OH, April 6, 2022 — Prospiant, the Agtech business segment of Gibraltar Industries, Inc. (NASDAQ: ROCK), today announced Parea Biosciences in Coal Township, Pa., has selected Prospiant to be the general contractor and complete cultivation and processing solutions provider for the expansion of its medical cannabis facility.
Parea Biosciences is a boutique provider of medical cannabis. A high-technology indoor growing facility will be added to the company’s existing greenhouse operation to accommodate the next phase of the company’s historic growth. The expansion more than doubles their canopy capacity, enabling Parea Biosciences to keep up with market demand that has resulted from updates to the state’s Medical Marijuana Act that ensures better access for patients. After this initial indoor expansion, Parea Biosciences intends to expand again later this year, effectively tripling their operation.
The company selected Prospiant for these expansions due to its turnkey “soil-to-oil” solutions and complete cannabis ecosystem that will help Parea Biosciences get to market faster.
“As Prospiant, we can support providers’ growth with everything from indoor grow facilities, greenhouse cultivation, to oil extraction and processing equipment and services,” said Mark Dunson, Group President of Prospiant. “By leveraging our deep knowledge and extensive cross-industry expertise, providers can benefit from a turnkey experience, helping them stay informed about the cannabis market, regulatory trends, new processes, and equipment and process innovations that can help them achieve increased productivity.”
Ed Stum, chief operating officer at Parea Biosciences, adds, “We feel we are making the right decision by choosing Prospiant’s expertise to help us grow to our greenhouse cultivation capabilities. We are excited about the value they bring to our expansion plans.”
To learn more, visit Prospiant.com.
Prospiant, the agriculture technology portfolio of Gibraltar Industries, Inc. (NASDAQ: ROCK) is the leading U.S.-based provider of turnkey controlled environment agriculture (CEA) solutions for growing fruits and vegetables, as well as a leading supplier of custom greenhouses for research, education, and retail. The company is the only provider of soil-to-oil cannabis ecosystems globally with technologies for the cultivation, extraction and refinement of cannabinoids. Visit Prospiant.com.
About Parea Biosciences
Parea Biosciences, located in Coal Township, Pa., cultivates boutique medicinal cannabis for Pennsylvania’s medical marijuana patients. It follows three pillars for providing best quality care: growing sustainably, patient-grower communication and medical cannabis education. Visit PareaBiosciences.com.
Contact: Michelle Crawley
[email protected] or 513-325-7973