Canngea’s mission to halt the global cannabis medicine shortage
Australian startup Canngea is working to address the global shortage of medical cannabis by setting up Australia’s largest pharmaceutical grade indoor facility to grow and manufacture high-quality cannabis products. A licensed B2B operator, Canngea will service other companies in the medical cannabis industry that want to develop products to sell to domestic and international consumers.
The supply of medical cannabis is not meeting global demand, but a company called Canngea is trying to find a solution. The global cannabis market is expected to explode, particularly in Europe.
The rapidly liberalizing European market is predicted to be worth $27.3 billion by 2025. However, significant supply shortages threaten to strangle the growth of the medical cannabis sector.
Get the latest CBD and cannabis updates at your fingertips with notifications and fresh information offered by our companion CBDNews app. Stay up-to-date with marijuana stocks for investments, global market, cannabis legalization and more.
Canngea plans to alleviate medical cannabis supply chain problems
A company is aiming to interrupt the shortage of cannabis medicines. The Australian startup, Canngea, is trying to solve the problem by installing Australia’s largest in-house pharmaceutical-grade facility to grow and manufacture high-quality medical cannabis products.
As more countries begin to legalize medical cannabis, there is growing demand around the world. Many countries that allow the use of medicine do not allow its cultivation, which means that they need to import from countries that grow cannabis.
Canngea: a solution to cannabis shortages
Licensed B2B operator, Canngea, will serve companies in the medical cannabis sector that wish to develop products to sell to domestic and international consumers. Canngea’s commercial director, Martin Bryden, said that the new facility would help solve the problem of inconsistent and poor quality cannabis products on the market.
He said that Canngea is Australia’s only medical cannabis contract manufacturing organization, using proven in-house cultivation technology to produce consistent, high-quality products at a competitive price. “Our in-house pharmaceutical-grade cultivation and manufacturing environment reduces risk, increases crop yields and ensures product quality and consistency,” added Martin Bryden.
The innovative facility will be equipped to provide a complete solution for customers: from growing, harvesting, extracting, packaging and labeling to distributing the customer’s branded products, with industry-leading technology.
The world-class, GMP-certified facility will be established in the Hunter Valley region of New South Wales. It will also house an on-site analytical laboratory capable of extraction, tissue culture and formulation of cannabis products, as well as compatible automated packaging, labeling, logistics, and distribution.
Eco-friendly solutions for high costs
Canngea aimed to significantly reduce production costs and maximize shareholder return from the use of solar power and battery. “Environmental sustainability is at the heart of our fully integrated 11,000 square meter facility. The project includes a strong focus on renewable energy and minimizes water use,” said Bryden.
“Canngea’s solar-powered battery solution is 10% the size of Tesla Big Battery, making it the largest privately-owned commercial battery in New South Wales, ” he added.
Major global suppliers
Australia legalized medical cannabis in 2016 and in January this year, Health Minister Greg Hunt said he wanted the country to become the world’s leading supplier. The Australian medical cannabis market is expected to be worth $5.5 billion by 2025, while the global market will total $66.3 billion.
Faced with a shortage of cannabis drugs, Bryden said Canngea was well-positioned to increase its market share and conquer the global market as well as domestic consumers, thanks to Australia’s strict standards.
“Australia is the only jurisdiction that treats medical cannabis as a purely pharmaceutical product, unlike other countries where cannabis can also be treated as a ‘natural’ or herbal product or supplement,” he added.
(Featured image by CBD-Infos-com via Pixabay)
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in SECHAT, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing [Week 12]
Empires come in all shapes and sizes, from small upstart affiliate businesses right through to world-dominating empires like TikTok. And...
Green Technologies: Why Southeast Asia is the New Global Investment Frontier
According to a report by the United Nations Environment Program, annual green funding flows in Southeast Asia have been estimated...
Eniax Signs Cerba, Analiza, and Oftalvist as Clients and Aims for 1M in Sales in 2023
Eniax also works with some medical centers in Spain, such as the HLA Moncloa University Hospital in Madrid, from Grupo...
GreenIT and Copenhagen Infrastructure to Develop Three 2 GW Offshore Wind Farms
GreenIT was established in March 2021 and is dedicated to the development, construction, and operation of plants for the production...
Concrete Investing Launches €4.75 Million Crowdfunding Campaign
Concrete Investing has financed 24 real estate transactions to date in four years of activity, with about €46 million raised,...
Featured2 weeks ago
Rice Demand for Exports Was Slow to Moderate
Crowdfunding4 days ago
Concrete Investing Launches €4.75 Million Crowdfunding Campaign
Mining & Energy2 weeks ago
With the Copper Crunch Still Looming, Keep an Eye on Trigon Metals
Biotech6 days ago
Arthex Biotech Raises €11 Million to Advance Against Muscular Dystrophy