Green Technology Solutions, Inc. (OTCBB: GTSO) continues work to bring its new cannabis testing laboratory online in Colorado as demand rises within the industry for improved, standardized testing methodology.
“There remains an enormous variance in testing results from lab to lab in Colorado, making it difficult for growers and retailers to know who to trust,” said GTSO CEO Wallace W. Browne. “We are working to establish a cutting-edge new laboratory capable of delivering consistent testing results that are transparent, sensible and reproducible.”
Cannabis is not yet recognized on a federal level, so there are no standards for product testing established by the FDA. The Colorado Department of Public Health and Environment (CDPHE) and Marijuana Enforcement Division (MDE) regulate testing in the state. In March, legislation was introduced that would create statewide laboratory standards for the state’s 18 pot-testing labs.
Discrepancies between state-approved labs, however, have opened what GTSO believes could be a multi-million-dollar market opportunity there.
“The cannabis industry is only just now maturing to the point that patients are demanding to know exactly what they’re putting in their bodies,” Browne said. “Edibles, especially, are currently all over the map with regard to potency. We are building a facility now that we hope will soon make us a trusted name in the industry.”
In order to capitalize on the rising demand in Colorado for cannabis testing services, GTSO is seeking out a new permanent location for the Class 5 clean room it acquired last month. The clean room is a germ- and pest-free environment where GTSO can reliably test cannabis products for contamination, potency and breeding, among other measurable attributes.
By establishing a working lab in Colorado capable of testing and demonstrating cutting-edge cannabis products, GTSO expects to help the growing number of cannabis professionals in the U.S. refine their offerings and guarantee product purity and consistency to their customers. The clean room was acquired without a commitment for lease, which was a key consideration for making the deal.