Bright Green Corp Signed An Agreement With Dalsem Greenhouse Technologies BV For $250M For Expansion Of Its Controlled Substances Drug Production Facility In Grants, New Mexico And Obtained $60M In Financing
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Bright Green Corp (NASDAQ:BGXX) has signed a $250M agreement with Dalsem Greenhouse Technologies BV to expand its drug production facility in New Mexico, adding 7M square feet of manufacturing space. The expansion, supported by $60M in financing, aims to enhance the production of Schedule I and II controlled substances, aligning with the 'Drugs Made in America' initiative. The project, benefiting from solar power and federal tax credits, positions Bright Green as a competitive, low-cost, carbon-neutral drug manufacturer in the U.S.
March 12, 2024 | 3:02 pm
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Bright Green Corp's $250M expansion with Dalsem Greenhouse Technologies BV, supported by $60M financing, aims to significantly enhance its drug production capabilities in New Mexico. This move, following DEA and state approvals, positions BGXX as a pioneer in U.S. controlled substance production, potentially reducing drug costs and ensuring a carbon-neutral footprint.
The expansion directly aligns with Bright Green's strategic goals and regulatory approvals to produce controlled substances in the U.S., potentially leading to increased production capacity, cost advantages, and market differentiation. The emphasis on sustainability and the 'Drugs Made in America' initiative could attract positive investor sentiment, driving short-term stock performance.
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