Golden State marijuana operator Glass House Brands Inc (OTCMKTS: GLASF) (FRA: 4KF0) has partnered with the University of California, Berkeley to study ways that artificial intelligence can be used to automate industrial hemp cultivation and production processes.
The public cannabis company and university also aim to identify new hemp derived medicines and genetics that could be beneficial for future crops. Chronic pain, sleep disorders, coronaviruses, inflammation and the liver disease cirrhosis are the conditions they aim to treat.
“As a long-time proponent of cannabinoids for treatments, I’m excited to collaborate with the research faculty at UC Berkeley to explore the development of new treatments to improve the quality of life for many with disabling disorders,” Glass House scientist, Orrin Devinsky, said in a release from the company.
Glass House chief executive Kyle Kazan claims this is the first collaboration of its kind in the hemp industry.
“We appreciate that the premier public university in California is supporting this sector of the agricultural industry, which is substantial in our state,” he said.
Glass House started taking a serious interest in hemp last year and secured a license for its production in Q3. The company is evaluating its potential as a more profitable commodity than cannabis in California. As of Sept. 31 last year, wholesale prices for marijuana in the Golden State had dropped by over US$100 per pound year-over-year.
“We are in dialogue with potential partners on the commercial sale and distribution of hemp-derived cannabis,” Glass House explained in its latest presentation. Hemp essentially being cannabis sativa plants and derivatives bred and cultivated to contain a low, non-psychoactive amount of THC.
Glass House starts selling vegan gummies through Eaze dispensaries
In another recent development, Glass House just secured an agreement with Eaze’s Green Dragon pot shops to sell PLUS cannabinoid-infused gummies at 39 Florida locations. Sour Watermelon, not exactly a common flavour, is one of the offerings.
Eaze recently made a comeback after a temporary shutdown last year due to financial issues resulting from California’s tough market conditions. These are the first gummies Eaze will be offering in Florida’s medical market.
“We have waited for the perfect opportunity to introduce our PLUS Gummies outside of California and are excited to now share the brand with the almost one million medical patients in the State of Florida,” said Hilal Tabsh, Glass House Chief Revenue Officer. Glass House acquired this edibles brand in 2022.
For 2024 results, Glass House reported a 139 per cent year-over-year increase of its EBITDA at US$9 million. Calendar year net revenue also shot up by 25 per cent from 2023 to US$200.9 million.
Congrats to @kylekazanceo and @grahamfarrar on this PLUS gummy licensing deal! https://t.co/w3ms2qTldX $GLASF
— Aaron Edelheit (@aaronvalue) April 10, 2025
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