Cannapany on May 14, 2019 No Comments
The two will collaborate on commercial cannabis derivative deliveries
Aurora Cannabis (TSE: ACB) and Radient Technologies Inc. are expanding their relationship. The two companies have announced that Aurora has taken delivery of the first commercial batch of finished cannabis derivatives from Radient, products that use Radient’s proprietary extraction platform. With the successful production of the batch, Radient has been able to prove its system and its enhanced ability to produce derivatives on a large scale.
Radient will continue to scale production at its Edmonton facility and hopes to achieve an annual throughput of about 300,000kg of cannabis biomass from the one location. The production has been supported by Aurora since the two companies joined forces in 2017 with the Research Joint Venture, validating Radient’s technology.
According to Aurora CEO Terry Booth, “Aurora recognized early that high-throughput, high-quality extraction technologies would be a competitive advantage in a rapidly developing cannabis industry. Our investment will begin to pay dividends with Radient achieving fully licensed, commercial status. Once scaled up, the addition of Radient’s technology will significantly increase our ability to deliver high-value cannabis products at scale, complementing our existing internal extraction capabilities, which will support a full suite of derivative products.”
Booth further stated, “Cannabidiol (CBD) derived from hemp requires the level of throughput that Radient’s technology and state-of-the-art second facility will provide to existing and future medical, wellness and consumer markets. We look forward to working with Denis [Taschuk] and the Radient team to further our global position in the derivative markets.”
The CEO of Radient, Denis Taschuk, added, “Achieving commercial production and sales is a crucial milestone we are very proud to have achieved. We have worked diligently over the past two years towards this inflection point, together with our partner Aurora and we are now very well positioned for accelerated growth going forward. We appreciate the patience our shareholders have shown as we executed on our transformational business plan. Aurora’s execution in the global medical cannabis space inspired us with their continued confidence in our technology.”
Congratulation!