Since 2008, California Lightworks has been active in cannabis cultivation technology and has supplied thousands of grow operations worldwide. Our first LED designs focused on the emerging cannabis cultivation market and replacing aging HID lighting technologies. Every year since 2010, sales have increased based on significant new product innovation and technological advances.
The Company has made major strides over the past ten years including:
*Strong growth per annum and expansion into new markets
*Sustained profitability since 2016
*Patents filed and granted
*Completion of breakthrough technology designs differentiated for multiple markets
*Development of technology driving multiple lighting units from a centralized power source.
*Development of cloud-based control solutions to compile data and control grow systems
*Strong market position and brand image with growers, distributors, and retailers.
The Company has sold over $15M in light fixtures to over 3,000 growers to date, and grossed $4M in sales in fiscal 2018, with orders booked for 2019 representing a significant expansion in sales. CLW is planning to introduce several new fixture designs to specifically target key segments of the cannabis cultivation industry. Combined with the latest advances in LED efficiency, advanced controls, and new Iot applications, CLW is very well positioned to take a significant slice of the multi-billion-dollar cannabis cultivation equipment market.
California Lightworks was one of the early pioneers in LED grow lights since its inception is 2008.
The initial market was primarily to hobby growers and small-scale commercial growers. Over the past few years there has been a massive market shift to larger scale commercial production as legislation evolved. The Company recognized this shift early on and is now primarily focused on large scale licensed indoor and greenhouse cultivation. This trend is set to accelerate as cannabis legalization continues worldwide.
CLW is perceived as one of the premier brands in LED grow lights and has developed a reputation for technological innovation, product quality and customer service second to none. The Company plans to expand its manufacturing capabilities and grow its sales to $25M over the next 3-5 years.
CLW’s growth and development to date has been achieved without significant external capital. The Company is seeking additional capital in the amount of $2,000,000 in order to accelerate its new product development, expand operations and build new markets.