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KIRKLAND, Wash., Sept. 13, 2019 (GLOBE NEWSWIRE) -- GrowLife, Inc. (OTC: PHOT), one of the nation’s leading plant cultivation and cannabis/hemp cloning solution providers, today announced the Company’s expansion strategy with CBD hemp clones in 2020 in CEO Marco Hegyi’s blog.
The blog post can be found here.
“This is one of the most important initiatives our company has pursued to date, and I felt it necessary to provide further insight into our strategy through my blog," said Marco Hegyi, GrowLife CEO and President. "In 2019 GrowLife pivoted with EZ CLONE and nearly doubled our base revenue. In 2020 we seek to significantly expand our business with CBD hemp clones. As outlined in the blog, we see an unprecedented opportunity for GrowLife/EZ CLONE to become a major supplier of CBD-rich hemp clones nationwide. Through our strategic genetics and propagation partners, we plan to offer hemp farmers the highest-quality, CBD-rich hemp clones starting next year."
The CBD product industry is projected to be a $24 billion CBD market with 700% growth by 2024, according to BDS Analytics and Arcview Market Research. GrowLife plans to leverage subsidiary EZ-CLONE’s expertise by adding CBD-rich hemp clones to its product offering, as the Company has identified a large market opportunity driven by the lack of supply of hemp clones.
For more information about GrowLife, including the CEO’s most recent video statement, visit the Company’s website. Products can be purchased at ShopGrowLife.com.
About GrowLife, Inc.
GrowLife, Inc. (PHOT) aims to become the nation’s largest cultivation service provider for cultivating organics, herbs and greens and plant-based medicines. Our mission is to help make our customers successful. Through a network of local representatives covering the United States and Canada, regional centers and its e-Commerce team, GrowLife provides essential goods and services including media, industry-leading hydroponics and soil, plant nutrients, and thousands more products to specialty grow operations. GrowLife is headquartered in Kirkland, Washington and was founded in 2012.
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