On 24.03.2023 we welcomed more than 100 people in the SIG Event Hall in Neuhausen. It was a pleasure for us to present the vision and the products of our company to all guests.
The first part of the presentation focused on the theoretical presentation and sharing of the company vision, mission, goals, technology, marketing strategy and financial data. The second part was reserved for the site visit, technical presentation and product testing.
Two weeks ago, we successfully launched the GreenState Investor Relations application as a customized solution for communication between investors and GreenState.
The application has attracted a lot of interest since its official launch in Google Play and iOS App Store and so far more than 1'000 people have downloaded the application and joined the GreenState community. In addition, around 99% of GreenState AG shareholders have downloaded the app, so we will be switching our corporate communications to GreenState's mobile app with immediate effect.
Later this year, GreenState AG will offer Green Bond and Collectable (NFT) through the GreenState Investor Relations application.
Last month, GreenState assembled an excellent team to launch a modular and vertical farm in Geneva. Our early stage investor, Dr. Pierre Allemann from Geneva, will be the president of the company and the person in charge of the Geneva operation. At the moment, Dr. Allemann is looking for a possible plot of land in the French-speaking region that he can buy or rent a farm space.
The farm will include basil and microgreens production, packaging and a cold room. The company's goal is to be operational within 12 months.
From the end of April through the seventh of May, our executives were on a business development trip in the United States to seek out potential collaborations and business opportunities.
The full trip will be explained in a separate letter later this month, but one of the key learnings during this trip is that most of the parties approached love GreenState's products and would love to join the ecosystem.
New partnerships developed from the initial meetings and even an international business developer was recruited as a new employee for the company.
The next steps will be to launch products and services in new markets such as the United States, Bermuda, the United Arab Emirates, Kuwait and many others.
In the first two years of our existence, we focused on building the proof of concept. In these two years we have learned a lot about the hardware, software and the actual cultivation of different plants.
After gathering very valuable know-how and based on our and external experience, we are now ready to move forward with further product development. At the moment we are finalizing the development of the GreenState 2.0 modules and making them ready for commercial production and use.
One of the most important hardware improvements will be the automation of the growing space and the reduction of manpower in production (from seed to harvest). Software development will be about enabling growers to input real-life data into the cloud system and integrate their feedback into the mobile app. After that, we will be able to connect human growers with technical machines.