Aurora has released their Q3 results, showing ongoing efforts to cut costs. In fact, the Aurora Sky facility, once the company's crown jewel, is now going to be fully shut down. Previously, the operation in that facility was scaled down to just 25% capacity.
The company stated that its Aurora Sky facility in Edmonton, where 13 percent of its global workforce is employed, CBC reports, has been considered "redundant."
"Projected COGS (costs of goods sold) savings now include the closure of the Aurora Sky facility in Edmonton," the company said in the press release.
When opened, it was called the biggest cannabis facility in the world, and according to suppliers connected to the Aurora Sky project, this was an outstanding facility: one of a kind in the industry. "It's a shame it will no longer be used." The cost of the project is estimated at around $150M.
During the first period of the cannabis industry in Canada, a lot of companies rushed to build as many cultivation facilities as possible. A lot of money has gone into such projects, and a lot of them have been shut down over time or had to be sold for a fraction that they were paid for. For instance, the Green Organic Dutchman too built an impressive cultivation facility in Valleyfield for around $250 million, which then was bought by Cannara Biotech for just $27 million.
"All of this facility is automated to the point of changing the weather conditions, automatically adjusts with the shades and the light to ensure that the optimal amount of light reaches every part of the canopy," says Cam Battley in the video. Who knows what's going to be of this.