Greenfern first ran an equity crowdfunding campaign in December 2018 when they raised $1.8m that was used to develop the company's research facility.
Since then they have also partnered with several reputable organisations to distribute medicinal cannabis products, and to undertake research and development of cannabis-based products including a hemp meat substitute and snacks.
They've also added cultivation licences and launched hemp oil and manuka honey wash bars.
While the company has an agreement with the power station operator that means Greenfern's power usage is billed at a significantly reduced commercial rate, owning it outright would mean its power costs – one of the largest overheads for a medical cannabis operation – would be even lower.
Greenfern is also looking at upgrading the power station's generation capacity so it could also sell the additional power produced to the national grid.
"By reducing our cost of production, we'll be able to offer products that are exceptionally high quality at an affordable price for the New Zealand market. That's an enormous competitive advantage.
"With the global cannabis industry expected to be worth in excess of $70 billion by 2025, we believe we are well positioned to take advantage of both national and international market opportunities."
Greenfern, which was founded by five school friends with a passion for innovation, has partnered with Australasian company Equitise for the equity crowdfunding campaign.
Greenfern recently signed an exclusive distribution agreement with UK company Brains Bioceutical Corp (Brains) to sell their pharmaceutical grade cannabidiol (CBD) products in New Zealand, giving Kiwi patients access one of the world's best pharmaceutical-grade cannabinoid products.
"We expect to have our own medicinal cannabis finished products ready for the market in about 12-24 months, but even then, we'll continue to distribute Brains' products due to their sustainable quality and EU good manufacturing process accreditation," Dan says.
The minimum investment is $500.
"We have chosen this form of capital raising to make it easy and accessible for everyday Kiwis to invest and join us on our journey to make sustainable, world-class medical and therapeutic cannabis products available to those who need it."
For more information visit https://equitise.com/offer/greenfernindustries-offer