TerrAscend's greenhouse located at its Boonton facility has been approved by the New Jersey Department of Health to begin cultivating cannabis. Concurrently, TerrAscend has commenced initial planting of this facility with the first harvest anticipated to occur during the fourth quarter of this year.
"The 37,000 square foot greenhouse is the first approved for medical cannabis cultivation in the state," the team with the company explains. "The Company expects to complete the second phase of construction at the Boonton facility in October 2020, which will expand the company’s New Jersey capacity to a total of 140,000 square feet and add indoor cultivation and post-harvest manufacturing capabilities. TerrAscend has the ability to further increase its New Jersey operations to over 240,000 square feet."
“This is an important milestone as we continue to expand our operations to meet growing patient demand for high-quality, medical products in New Jersey,” said Jason Ackerman, Executive Chairman of TerrAscend. “We’re exceptionally proud of the team’s efforts and look forward to accelerating our growth as the facility ramps up to full capacity.”
In December 2018, TerrAscend was awarded the right to apply for one of six vertically integrated permits, out of 146 applications, in the State of New Jersey. TerrAscend was the second entity to receive its cultivation permit in January 2020, among the six winning applicants. At that time, initial cultivation began in a temporary on-site area while construction of TerrAscend’s greenhouse was completed. With this new permit, plants previously grown in the temporary area will be transferred to the greenhouse.
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TerrAscend
terrascend.com