Theraplant is one of the four licensed cannabis cultivators in Connecticut, established to serve the state's medical marijuana program. The company operates a cultivation and processing facility in Watertown, where it grows and produces a wide range of cannabis flower strains, including indicas, sativas, hybrids, and CBD-rich varieties. Theraplant utilizes advanced cultivation techniques and premium genetics to offer high-quality cannabis products tailored to meet the diverse needs of medical patients.
The company's product line encompasses meticulously grown flower buds, pre-rolls, and vape cartridges filled with potent CO2-extracted cannabis oils. Theraplant's vape products leverage CCELL technology, known for its ceramic heating element that vaporizes cannabis oil at an optimal temperature, delivering smoother inhalation and enhanced flavor. As of April 2014, Theraplant had the potential to produce up to 100 pounds of cannabis per month.
In March 2021, Theraplant was acquired by Greenrose Acquisition Corp., a special purpose acquisition company (SPAC), as part of a USD 210 million deal that involved three other cannabis businesses operating across multiple states. However, by July 2024, Greenrose Holding Co., the parent company of Theraplant, underwent a foreclosure process due to financial difficulties. Following a court-approved foreclosure in July 2024, the ownership of Theraplant was transferred to a new entity, NewCo, in exchange for the satisfaction of certain obligations owed to the lenders.
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