SpotLite360 IOT Solutions Inc said it has entered into a reseller agreement with Apollo Sciences under which Apollo will introduce the SpotLite360 software-as-a-service (SaaS) platform for supply chains to its national network of hemp farmers and supply partners across the US in exchange for a referral commission from SpotLite360.
Aurora, Colorado-based Apollo is a long-established player in the hemp industry with a network of more than 200 contract farmers and greenhouses who produce hemp flower and biomass, from which Apollo produces distillate oils and isolate powder. In July, SpotLite360 announced its initial software license agreement with Apollo for use of the SpotLite360 Technologies and its unique asset and inventory tracking capabilities, leveraging RFID and Internet-of-Things (IoT) technologies.
Based on Apollo’s early-stage satisfaction with the SpotLite360 Technologies, its management has negotiated with SpotLite360 to become a national reseller.
READ: Spotlite360 Technologies inks software license agreement with Apollo Sciences, a vertically integrated producer and distributor of hemp in Colorado
“It is an excellent vote of confidence for an early-stage enterprise user of the SpotLite360 Technologies to become a reseller so promptly after taking on a license to use the solution for its own operations,” Spotlite360 president James Greenwell said in a statement.
“The SpotLite360 Technologies offer an unparalleled value to players in the cannabis industry, especially as differences in state-level regulations across the country continue to differ and create regulatory challenges for interstate trade. SpotLite360 will provide sales support for Apollo in addition to regular support for Apollo’s own use of the SpotLite360 Technologies for its large-scale operation of producing cannabis extracts,” he added.
Spotlite360 said with capacity for extracting thousands of pounds of hemp biomass per day, Apollo stands to benefit greatly from the efficiencies created through solutions such as the SpotLite360 Technologies, particularly for such data as proof of origin, product provenance, temperature and humidity.
Because supplier partners of firms such as Apollo can benefit from the automatic collection of and near-instant access to this type of data, it said Apollo believes that such partners could realize significant business value by using the SpotLite360 Technologies.
"Many persisting business problems in the US cannabis industry relate to supply chain visibility,” Aurora co-founder Michael Trojan said.
“Whether that may be visibility for the sake of quality assurance, verifying place of origin, or regulatory compliance, it is generally true for most firms in this industry that you can never collect enough data from any given point or stakeholder in your supply chain.
“We plan to immediately begin introducing the SpotLite360 Technologies to our hundreds of suppliers across the United States, emphasizing the benefits they can realize by integrating this solution into their systems.”
Contact the author at stephen.gunnion@proactiveinvestors.com