A joint venture involving a Texas Medical Center-based startup and a Houston company that specializes in indoor vertical farming is bidding for one of the first licenses to dispense medical marijuana in the state.
Approval would make a business group with strong local ties a pioneer in the production of low-THC cannabis under a program that was authorized by the Texas Legislature two years ago but has yet to launch. Though significantly smaller in scope than legalization statutes in other states, the initiative would at least give Texas a toehold in what is expected to be a $20 billion industry within the next three years.
The group led by Houston-based engineering and procurement firm Indoor Harvest is among 43 statewide seeking a license to produce a specific strain of cannabis for sale to patients of intractable epilepsy who have a doctor’s prescription. The Department of Public Safety has until Sunday to grant provisional approval for dispensary licenses.
– Read the entire article at Houston Chronicle.