07 Aug Cannabusiness is booming
This cover story in the Austin Business Journal (subscription required) demonstrates how Fluence is leading the Green Rush, driving part of the multi-billion dollar market into the heart of Texas.
Fluence is fortunate enough to call Austin, Texas home to its global headquarters. And besides being the live music capital of the world, Austin is also a rapidly growing city known for innovation in technology. Featured alongside former UT-grad and ex-NFL star Ricky Williams, Compassionate Cultivation and a list of other leading cannabusinesses, Fluence is proud to be named one of the top “Behind-the-Scenes” industry players.
Additionally, assistant managing editor Paul Thompson points out Fluence’s “revenue has increased 100% year-over-year for the past four years, and is pacing for 120% growth in 2019.” Thompson also points out “CBD is expected to generate $5 billion in sales in the United States in 2019, according to an estimate from the Brightfield Group. That doesn’t yet rival the legal marijuana market — Colorado alone recorded $1.55 billion in marijuana sales in 2018, according to the Denver Post — but that could change in the coming years.”
As Thompson further points out in the article, with the U.S. Senate passing the 2018 Farm Bill last December, the production of cannabis and hemp promise farmers a bright and profitable future.
For more information on how Fluence is enabling cannabis growers to increase yields and quality in their plants, visit our Innovator Spotlight page to learn more.