Upwise Capital Funds $10MM Debt Facility to National Green Source for Efficient Foam Renovation
NEW YORK, February 2, 2022 (Newswire.com) - Upwise Capital, a premier debt financial solution company for marijuana-related businesses, is helping to pioneer the modernization of cannabis cultivation facility construction. The company recently funded a $10 million 1st Lien Position Construction Loan to National Green Source — a Colorado-based, vertically integrated cannabis operator that transformed an old Pepsi bottling center into a cutting-edge marijuana cultivation facility: the first of its kind.
By retrofitting the entire interior of the building using a revolutionary thick foam material and adhesive, National Green Source, along with the expertise of Composite LLC construction, created an insulated shell that will now allow them to cultivate high-quality cannabis indoors at a total cost of $150 to $250 per pound.
"I have toured many cannabis facilities and helped to finance equipment and construction for cultivators, manufacturers, dispensaries, and labs. I have never seen a facility look so clean and state of the art," said Joe Lustberg, CEO and Managing Partner at Upwise Capital. "Once I saw the all-foam walls and structures firsthand, I knew securing this deal would help transform indoor cannabis cultivation."
Providing more than just a streamlined aesthetic, the building is extremely energy-efficient, with energy values in the ceilings of R72 and R36 in the walls. Due to the hybrid or alternative construction methods using EPS foam, the building also has built-in resistance to mold, bacteria, and termites, and is waterproof.
"Composite LLC is excited to bring buildings of the highest efficiency and longevity to the cannabis market. Construction technology that prevents bacteria and mold growth while protecting employees and canopy, alike," said CEO Jeremy Pollock. "This material can be used for premium grow and retail operations built from the ground up or to retrofit existing facilities." The use of EPS foam material needs to be integrated into the cannabis construction industry.
National Green Source's CEO Natalie Romolt said, "Completing this facility will help to change the cost efficiency that cultivators can produce quality indoor cannabis. Colorado is an open market, which forces the demand to produce at all-time low costs, making this new way of construction so revolutionary for the industry. Not only will it dramatically lower the cost of production, but also transform how the industry treats moisture, molds, and pests. We are so grateful for the Upwise Capital team for helping us with this project."
About Upwise Capital:
Upwise Capital is a full-service debt financial solution company for cannabis-related businesses. Upwise Capital can provide up to $10 million in unsecured, non-dilutive working capital, as well as work with more than 250 capital sources to offer borrowers even more possibilities. Various options include financing for equipment, construction, real estate, sale-leasebacks, purchase orders, and inventory. Upwise is dedicated to shaping this rising industry by providing both funding and development opportunities.
Media Contact
Sean Lustberg - Chief Marketing Officer
Sean@Upwisecapital.com
(646) 837-5522
https://upwisecapital.com/
Source: Upwise Capital