SRMX to Develop NB IoT Driven Monitoring Systems for the Booming Hemp and Cannabis Sectors
Business Wire Business WireMay 14, 2019
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--
Saddle Ranch Media, Inc. (OTC Markets: SRMX) today announces the signing of a strategic relationship agreement to develop Artificial Intelligence (AI) driven NB IoT cultivation monitoring systems for the cannabis and hemp cultivation market sectors, which have been designed and produced by SRMX’s IoT technology subsidiary, Tri Cascade, Inc. These state of the art systems will allow cultivators to accurately monitor and control, on a real time basis, the irrigation, cultivation and health status of their crops.
The new cultivation monitoring technology will be based on NarrowBand Internet of Things technology, often referred to as NB IoT, which is a cellular communications technology that provides wide-area coverage to gather and disseminate information. The main advantages of this technology are: the real time data collection, low complexity of the network and the significant coverage extending well beyond existing cellular technologies. For these reasons, NB IoT is ideally suited for use as a networking technology for hemp and cannabis cultivation monitoring systems. SRMX believes this will be the first NB IoT to be developed for this unique application.
Under the terms of the strategic development relationship, SRMX has agreed to keep the name of its development partner, which is one of the largest suppliers to the growing hydroponic cultivation supply sector, private until the system requirements have been agreed to by the companies. SRMX/Tri Cascade. Inc will be responsible for development of the technology and the production of the product, while its partner will take on the role of distributor and marketer of the monitoring systems.
Max Li, CEO, SRMX/Tri Cascade Inc., commented, “The hemp and cannabis cultivation sectors are growing fast and, to meet this demand, we are producing monitoring systems to aid growers. Our innovative, smart NB IoT irrigation and cultivation equipment, especially tailored for specialty Hemp and Cannabis growers, will enable them to more exactly cultivate their crops with better consistency and quality.”
With hundreds of million of dollars of investment pouring into hemp cultivation, SRMX’s management sees strong potential demand for cultivation monitoring systems. According to a January 2019 report issued by Arcview Market Research, the worldwide consumer market for cannabis during 2018 was valued at approximately $12.8 billion, up significantly from the 2017 estimated value of $9.5 billion. The market is expected to grow at approximately 27% compounded annually through the year 2022.