- Canbud Distribution Corporation (CBDX) has entered into a research partnership with Brock University
- Canbud aims to develop a game-changing climate-smart sustainable natural fungi BioFertilizer for crop cultivation
- According to a report from Global Market Insights Inc., the global fertilizer market was estimated at C$196.97 billion in 2019
- Canbud Distribution Corporation (CBDX) is a science and technology health and wellness company
- Canbud opened trading at $0.18 per share
Canbud Distribution Corporation (CBDX) has entered into a research partnership with Brock University to develop a natural fungi BioFertilizer.
The project was recently launched after the Brock research team obtained the required license from Health Canada.
Canbud has formed a partnership with Brock University biologist Dr. Michael Bidochka and his research team to investigate the effects of endophytic fungi on hemp plants. Canbud aims to develop a game-changing climate-smart sustainable natural fungi BioFertilizer for crop cultivation which could reduce and replace chemical fertilizer, supporting sustainable global hemp and food production.
In a ground-breaking study conducted in 2012, Professor Bidochka and his team found that certain fungi, which feast upon over 200 different kinds of soil-borne insects, exhibit the ability to transfer nitrogen from the dead bugs into plants through the plant's root system. This breakthrough discovery led Professor Bidochka and his team of researchers to take this application a step further.
A subsequent study in 2017 found that plants transfer carbohydrates back into the fungus, supplying the fungus with much-needed energy, making the fungus-plant relationship truly symbiotic and self-sustaining.
Head researcher Professor Katie Field, from the University of Leeds' School of Biology and Global Food and Environment Institute, said: "Fungi could be a valuable new tool to help ensure future food security in the face of the climate and ecological crises."
According to the report published by Global Market Insights Inc., the global fertilizer market was estimated at C$196.97 billion in 2019, anticipated to reach $200 billion by 2026, registering a CAGR of 3.2% from 2020 to 2026.
Robert Tjandra, President and Chief Operating Officer at Canbud, is impressed with Dr. Bidochka team's fungi research and excited by the possibility that the concept could be applied to hemp plants, commenting,
"It's important to see if there are biological or organic solutions to certain problems such as chemical fertilizer and pest control. We're trying to be more sustainable by using biological rather than chemical solutions, which will give us a competitive advantage, and further positions the corporation as an ESG company."
As Environmental, Social & Governance (ESG) evolves into a strategic business imperative and operational focus for Canbud, the corporation continues to look for and develop revenue-generating solutions spinning out from its core businesses.
Canbud Distribution Corporation (CBDX) is a science and technology health and wellness company that encompasses plant-based, psychedelic pharmaceutical and non-psychedelic nutraceutical, and hemp cannabinoids (CBD) verticals.
Canbud opened trading at $0.18 per share.