PULLMAN, Wash.--(BUSINESS WIRE)--Dewey Scientific, an agtech innovator pioneering solutions for a sustainable and thriving cannabis industry, announces that it has sold a warrant to purchase Series A preferred units to The Hawthorne Collective, Inc. for $3.2 million. Dewey Scientific will also be working with Selway Holdings, which plans to build a $1.8 million cannabis greenhouse, to secure use of the planned state-of-the-art facility.
The funding raised from The Hawthorne Collective will be dedicated to the acquisition of cutting-edge equipment and to furthering Dewey’s already market leading genetics research and development (R&D) and other lawful purposes permitted under laws of the United States.
The Washington-based Dewey Scientific leverages genomics, data science, and classical breeding methods to improve the quality and genetic diversity of cannabis crops in the Pacific Northwest. Founded in 2018 by three plant scientists from Washington State University, Co-Founder and Chief Science Officer Dr. Mark Lange is one of the world’s foremost experts on terpene biochemistry and natural product biosynthesis. The founders’ work has been published in several peer-reviewed scientific journals, including Plant Physiology.
“Dewey Scientific is continuously evolving our mission to apply pristine breeding principles and the latest genomics technology to develop genetically stable hybrid seed for healthier and more consistent cannabis crops,” said CEO and Co-Founder Jordan Zager, PhD. “Through this round of funding, we are able to expand that reach, further refine our cultivation practices, and–with the creation of a franchise system–work with a wider net of cultivators and partners to deliver higher-yielding crops.”
Dewey Scientific is already expanding its R&D efforts and advancing genetics for varieties focused on key traits, with the recent addition of a world class agronomist to oversee cultivation practices and additions at the C-Suite level. The Dewey Scientific team will also be boosting its scientific staff with new hires in the coming months to further enhance its R&D pipeline.
Trailblazing the future of the cannabis industry, Dewey Scientific is also launching a franchise system to work with cultivators across the nation and license out Dewey Scientific genetics to share its success in other cannabis markets. The company also plans to continue developing strong marketing and brand guidelines to replicate across franchises and focus on intellectual property protections associated with its ventures.
“We have had the opportunity to collaborate with the talented and dedicated team at Dewey Scientific over the past two years, refining the breeding of hemp crops to advance crop yields and quality. We’ve experienced firsthand the impact of their genomic breeding technologies,” said Dave Swihart, senior vice president of global technology and operations for ScottsMiracle-Gro. “Innovation is the backbone of this industry. On behalf of The Hawthorne Collective, we look forward to seeing the next stage of Dewey Scientific’s evolution.”
Dewey Scientific CEO Jordan Zager has a minority stake in Selway Holdings. Dewey Scientific also holds Dewey Cannabis, a direct-to-consumer small batch, high quality marijuana supplier in Washington state, leveraging Dewey Scientific proprietary genetics.
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ABOUT DEWEY SCIENTIFIC: Dewey Scientific, founded in 2018 by PhD molecular plant scientists, employs nearly a dozen scientists and staff at its Pullman, WA agricultural research facility. In addition to providing scientific services to cannabis cultivators, Dewey Scientific produces proprietary cannabis genetics with evolutionary leaps in standardization, quality, and resiliency for cultivators. Dewey Scientific does not sell plant varieties with foreign DNA.
