BOULDER, Colo. — Despite the economic downturn and a very challenging year for the cannabis industry, Green Dot Labs (GDL)–Colorado’s premier cannabis cultivation and extraction brand–grew 28% in 2022, attributing the increase to its entrance into the ultra-premium flower market and an ongoing focus on developing and branding unique genetics. In 2023, GDL will set its sights on national expansion following its recently announced entry into Arizona.
“This past year, Green Dot Labs saw significant growth in our home state of Colorado. We exist to serve the state’s most discerning consumers and they continue to seek out rare and exclusive genetics that we deliver through their most preferred form factors like premium cannabis flower and solventless dabs,” said Green Dot Labs Co-Founder and Chief Executive Officer Alana Malone. “While we have focused on delivering on our promise here in Colorado, we have also had our eye on other markets that would appreciate what we have to offer. After extensive research we have recently announced our planned entrance into Arizona, where we’re expected to come online in 2024.”
As GDL looks ahead to the new year, the company’s leadership expects to see the following trends gain traction in 2023.
Technology & innovation will help companies thrive in a hyper-competitive marketplace. From state-of-the-art, highly automated facilities that help reduce product variance, to full climate control, advanced schematic fertigation and LED lighting, cannabis companies that invest in top-of-the-line, cutting-edge technologies to help manage operations and cultivation facilities will gain a competitive advantage while increasing sustainability efforts.
“If you are looking for ultra-premium flower, there are limited options. Green Dot Labs has recently brought online a new flagship facility featuring state-of-the-art technology and expanded our best-in-class team that understands the nuanced orchestration it takes to produce the best flower possible. Furthermore, we are making the shift to LEDs for all rooms growing flower, which will substantially increase yield and reduce energy usage,” said Green Dot Labs Co-Founder and Chief Creative Officer Dave Malone. “Our laser focus on developing and leveraging our proprietary platform has resulted in another banner year for GDL.”
Premium brands will truly differentiate themselves through proprietary genetics, ultra-premium flower and branded strains. With Colorado’s status as the first recreational cannabis market to come online in 2014, the state is also home to some of the country’s most sophisticated cannabis consumers. Even as the state faces a glut of product, craft cultivators have found that canna connoisseurs are consistently seeking quality product from operators who are dedicated to R&D, innovation, and elevating the art and science of cannabis.
Green Dot Labs has seen consumer demand for its ultra-premium products grow, with weekly drops of limited batches consistently selling out. In the new year, GDL will continue the ongoing process of breeding and growing the most exciting and distinctive varietals for flower and solventless extract production. “Genetics will continue to emerge as a demand driver in the premium space as consumers seek out the type of experience that Green Dot Labs provides,” Dave continued. “We pioneered premium, branded strains and will continue to deliver on this front.”
Growth of cannabis in the hospitality sector. Long-awaited cannabis hospitality licenses in the area are finally coming online, giving residents and tourists alike venues where they can gather and legally consume cannabis products in a social setting. Along with more than 64 licensed dispensaries per 100,000 people, marijuana-friendly accommodations, guided cannabis bus tours, and other cannabis-focused businesses, Denver-area businesses–like JAD’s Mile High Smoke–continue to lead the way in the burgeoning cannabis tourism and hospitality sector supported by brands that are embracing the opportunity to showcase their products in public consumption settings.
Attacks on legal cannabis continue: As the Colorado General Assembly reconvenes for the 2023 session, the state’s voter-mandated legal cannabis industry remains under threat from proposed measures backed by prohibitionists. Baseless attacks on popular products, onerous operational requirements and tax hikes threaten to drive sales away from the legal market of safe, tested products that are highly regulated to ensure consumer safety. At the federal level, legislative action on safe banking also hangs in the balance. Without access to safe banking and merchant services, operators remain under threat of violence and cash theft demanding attention and solutions from our state leadership.
About Green Dot Labs
Founded in 2014, leading premium cannabis brand Green Dot Labs is the longest-running concentrates brand in Colorado and a longstanding innovator in cannabis genetic development and resin preservation techniques across cultivation and processing. Helmed by husband-and-wife team Dave and Alana Malone, Green Dot Labs is driven by a profound respect for the cannabis’ endless possibilities and is dedicated to producing the purest reflections of the plant’s myriad flavors, effects and wellness benefits. Commanding an obsessive following among the most discerning cannabis consumers, Green Dot Labs’ branded products will soon be available in Arizona. For more information, visit http://www.greendotlabs.com.
