Terra Tech Corp. (TRTC)

logoTerra Tech Corp is an agricultural company that has entered the US marijuana industry. Since 2012, it has been developing products for controlled plant cultivation, but it is only in early 2014 that it started to explore a medical cannabis business.

Terra Tech’s main business is producing technologies for indoor and outdoor agriculture. These include environmental controllers, plant lighting, horticultural nutrients, and hydroponic trailers. The portable hydroponic trailers are some of its major products. They come in the Big Bud and Little Bud types, and Terra Tech describes them as “the most advanced mobile controlled agricultural facilities”.

The company uses its proprietary technology to design its products, and produces them through partnerships with commercial clients. It also caters to the retail market through its wholly owned subsidiary, GrowOp Technology, Ltd.

At the start of 2014, Terra Tech entered the medical cannabis sector by applying for a Nevada license to operate a marijuana cultivation dispensary and facility. The company is the first among US publicly traded companies to do so. In addition, it formed another subsidiary, Medifarm LLC, to focus on medical marijuana.

Terra Tech was incorporated in 2008 as a VoIP software company named Private Secretary, Inc. In 2012, the company changed its business as a result of its merger with GrowOp Technology, Ltd. This led to the forming of Terra Tech Corp.

Currently, Terra Tech is traded as TRTC in the OTC markets, with a market cap pegged at USD 68.26 M.

Terra Tech’s management team is led by Derek A. Peterson, who is the company’s Founder, Chairman, CEO, and President. Other executives are Co-founders Robert Drust and Eric Kroguis; CFO Michael C. James, and Secretary, Treasurer, and Director Amy Almsteier.

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