An investment made two years ago by Madison Ventures+ into R&D/engineering shop Spectrum King LED is now helping to drive the modernization of cannabis cultivation facilities across the United States.
"Since we became controlling shareholders of Spectrum King LED, the company has embarked upon an incredible 24-month period of innovation, first with the launch of the Phoenix line and most recently with the announcement of the Clone King, its first light designed specifically for clones," said Bryan Gordon, the Chairman and Managing Director of Madison Ventures+ and the Chairman of SKLED. "Currently, the team is working toward the launch of a new line of products that will render HPS lights entirely obsolete, both from a performance and ease-of-use perspective."
As the cannabis industry expands into new markets amid increasing competition, cultivators are rapidly recognizing the need to upgrade facilities to meet growing consumer demand while minimizing costs. Topping the list of innovations being considered is the installation of LED lighting, which is quickly becoming the industry standard for all stages of growth largely due to innovations originally made possible by Spectrum King LED, the first lighting company to develop and patent full-spectrum LED grow lighting for the cannabis industry.
"We are incredibly grateful for the reception we have received from the cannabis cultivation community and are thrilled that companies are always moving forward to advance the industry," said Rodger Olivares, Chief Operating Officer at Spectrum King LED. "In addition, we are grateful for the partnership with Madison Ventures+, which has helped us move our business to the next level. Working with MV+ has transformed Spectrum King LED from a well-regarded 'inventor-in-a-garage' company to a finely-tuned machine. We have been particularly focused on building a durable advantage in design, engineering, and supply chain optimization, which has positioned us for continued impressive growth."
Designed from the ground up to set the standard for the industry, Spectrum King LED products are intended to provide best-in-class performance with industry-leading power, efficiency, reliability, heat management, and weight-per-fixture, all at prices that keep LED lighting within reach of small and large grow operations alike. MV+ purchased a controlling share of Spectrum King LED in November 2020. Since then, MV+ has focused on helping SKLED streamline operations and strategically position the company to focus on innovation.
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