Seedo Corp (OTC: SEDO) has appointed the CEO of PepsiCo, Inc. (NASDAQ: PEP) subsidiary SodaStream, Daniel Birnbaum, to its board of directors following his personal $550,000 investment in the company.
Seedo provides a fully-automated growing machine for indoor cultivation of hemp and vegetables that can be used by both average consumers and large-scale producers.
The system allows to generate high yields of lab-grade pesticide-free products, while also reducing cultivation costs through providing maximum daylight illumination, built-in carbon filters, automated air conditioning and a smart post-harvest drying system.
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Why It’s Important
The appointment of Birnbaum to the company’s board will be beneficial given his expertise in transforming SodaStream into a multi-billion dollar business.
SodaStream last year was acquired by PepsiCo for $3.2 billion. Prior to joining SodaStream, Birnbaum was the general manager of Nike Israel and a founding member of technology startup Nuvisio Corporation. In addition, he founded Pillsbury Israel and served as its CEO.
As an investor and board member at Seedo , Birnbaum will play a pivotal role in taking the company to the next level and transforming it into a global brand.
“I am excited about Seedo not only because of the medicinal and nutritional prospects behind high-quality hemp growth but even more so because of the possibilities Seedo is developing to help increase farming productivity around the globe,” Birnbaum was quoted in a statement.
The appointment of Birnbaum comes after Seedo announced a partnership with SYS Technologies, an innovative indoor and portable clean environment company, to develop advanced containerized clean growing solutions for commercial use. Moreover, Seedo recently started delivering the first pre-sold home-grow units to customers in California.
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