Hartford Business Journal

HARTFORDBUSINESS.COM | FEBRUARY 19, 2024 17 "(Capital L.P.) really had a lot of confidence they were the vision- aries for growth, and got behind me and Tom Schultz, who was really the brains of the operation," Ferrarese said. Schultz died unexpectedly in late 2020 from injuries he sustained in a bicycle accident; Ferrarese took over as the company's top executive. In 2021, shortly after the state legalized recreational marijuana, Verano Holdings purchased CTPharma and two other Connecticut dispensaries, giving it a foothold in the state ahead of the adult-use industry's launch. Ferrarese stayed on with Verano as an executive vice president until early last year, when he left to join Affinity in a full-time capacity. Affinity Grow While he now oversees Affinity Grow's cultivation operations, Ferra- rese said he's actually been tied to the company for several years. Ray Pantalena is the founder and CEO of Affinity Health & Wellness, the parent company of Affinity Grow. When Pantalena, a longtime pharmacist, was looking to get into the state's medical marijuana industry six or seven years ago, he tapped Ferrarese, who was still working at CTPharma at the time, for help with the paperwork and application process. Affinity Health & Wellness was awarded a medical marijuana dispensary license in 2018, and soon after opened its first retail location in New Haven. Ferrarese, who said he's worked "with a bunch of operators across the country to win licenses," declined any consulting fee from Pantalena, but did get a small equity stake in the company. Pantalena said he turned to Ferrarese again for his expertise in the cultivation business. "He's a tremendous wealth of knowledge — a nationally known guy, and people call him for all sorts of insight and advice," Pantalena said. Ferrarese said there are some major differences between a large- scale grow facility and a micro-culti- vator. He said he likes being able to know every employees' name and their families, something that comes with a smaller business. He's also much more hands-on in his current role than he was as an executive at Verano. But the Rocky Hill facility he helped build at CTPharma is massive and geared toward innovation and experimentation, which won't be easy to replicate. Affinity Grow hired cannabis industry veteran Stephen Markle as its lab director in 2023, to help spear- head some of those efforts. Supplying CT Pantalena said he hasn't seen product shortages at the two dispen- saries he operates in Bridgeport and New Haven. Any supply issues at other Connecticut dispensaries will lessen as more growers begin producing products, he said. Since the adult-use market launched in January 2023, the number of dispensaries in the state has almost doubled, while just a few new growers have opened. However, there is a backlog of culti- vation facilities trying to get online. Krasselt, the DCP spokesperson, said her agency is "working closely" with the 11 cultivators and five micro-cultivators that have received provisional licenses, but haven't yet become operational. "There is a significant pipeline of cultivation facilities that we expect will surpass retail demands in the state. Additional cultivation will alleviate concerns about product availability," Krasselt said. Krasselt said DCP has no indica- tion that the state's only testing lab, Northeast Laboratories in Willimantic, is backed up with product testing. The state used to have two cannabis testing facilities until the closure of AltaSci Laboratories in March 2023. "The lab has not indicated to Drug Control that they are behind or overburdened on product testing. The time required for lab testing does not seem to be the reason for a lack of product variety," Krasselt said. She added that DCP continues to "monitor supply and demand data as it becomes available to us." Rino Ferrarese co-founded Connecticut Pharmaceutical Solutions, one of the four original cannabis cultivators that served the medical market when it first launched in 2014. HBJ PHOTO | SKYLER FRAZER Join us as we induct Collins Aerospace, OTIS Elevator, Arburg and HORST Engineering Announcing the 2024 American Manufacturing Hall of Fame Induction Ceremony April 3 rd 8 am - 10 am $50 pp Host site: Farmington, CT Presented By: To honor Connecticut's manufacturing legacy and to support our next generation of makers the American Manufacturing Hall of Fame welcomes you to the 2024 Induction Breakfast Ceremonies, celebrating our 2024 Hall of Fame Class and Women of Manufacturing. Moderator: Kara Sundlun, WFSB TV 3 News Anchor Featured Presenters: LT Governor Susan Bysiewicz Honorary Chair U.S. Senator Richard Blumenthal U.S. Representative Jahana Hayes REGISTER: AmericanManufacturingHof.com Founding Sponsor: Steel Sponsors: In Partnership With: Media Partner: Media Partner: Bronze Sponsors: Copper Sponsors:

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