Irvine-based Terra Tech Corp. got approval last week from the Securities and Exchange Commission to use the $6.8 million it raised this year to build and run medical marijuana operations in Nevada.

The company, which has been publicly traded since 2012, plans to raise another $13 million in 2015, said CEO Derek Peterson, with all the money aimed at growing and selling medical marijuana under its MediFarm division in California, Nevada and New York.

The company earlier this month was granted provisional certificates from Nevada to operate dispensaries, cultivation and production facilities in the state.

Peterson said the support from the SEC could be an encouraging sign to anyone thinking of joining the marijuana industry.

“This gives them more faith that no one is going to stop the industry’s growth,” he said. “It means a greater access to capital for companies that are growing in this space. This bodes well for these companies.”

Peterson said his company has invested time and money in the legalization efforts to better position Terra Tech in the dispensary trade.

“We’re a huge supporter of recreational legalization. That’s our long-term goal,” Peterson said. “We are doing everything we can to support the initiatives around the country.”

Recreational marijuana is already legal in Colorado, Oregon, Washington and Alaska. Ballot measures to legalize recreational marijuana in California and Nevada are expected in 2016. In 2013 Nevada approved a law allowing for the development of 66 medical marijuana dispensaries and an unspecified number of grow facilities.

Terra Tech was incorporated in Nevada in 2008. The has been headquartered in Irvine since 2011. Its other main business, GrowOp Technology, sells hydroponic growing equipment from filtration systems to the Big Bud, a mobile growing facility set up in a 53-foot trailer.

Contact the writer: hmadans@ocregister.com or Twitter: @HannahMadans