- Vancouver-based Nextleaf Solution (CSE:OILS) has received a German patent for its technology relating to the post-extraction processing of cannabinoids
- The technology allows for the purification and concentration of certain compounds, to be used in the manufacturing of various products
- To date, the company has been issued 24 patents worldwide, with more than 60 yet to be approved
- Filing for patent protection in Europe, specifically Germany, forms a large part of the company’s commercial growth strategy
- Nextleaf Solutions (OILS) is currently up 1.67 per cent to C$0.30 per share, with a market cap of $33.26 million
Vancouver-based Nextleaf Solution (CSE:OILS) has received a German patent for its technology relating to the post-extraction processing of cannabinoids.
The company currently owns a portfolio of 24 patents worldwide relating to its extraction technology, and has more than 60 currently under review.
Its proprietary methods of extracting and separating cannabinoids and terpenes allow for the purification and concentration of certain compounds, which can then be used to manufacture a wide range of CBD and THC products.
To date, Nextleaf’s patent portfolio contains a variety of methodologies relating to the removal of fats and waxes from crude cannabis oil extracts at a significantly improved rate.
The company says that without these unique refining processes, the presence of chlorophyll, fats and other impurities can result in undesirable flavours and aromas when consumed.
“Nextleaf’s team of chemists and engineers have done a great job translating innovation into one of the largest stacks of IP for the industrial-scale extraction and distillation of CBD and THC,” said Taran Grey, Intellectual Property Director at Nextleaf Solutions.
“It is an exciting time with commercial oil production commencing at Nextleaf Labs,” he added.
Today’s announcement noted that the securing of patent protection in Europe, and particularly Germany, is a key pillar in Nextleaf’s commercial growth strategy.
Last year, Germany exported the largest dollar value of pharmaceuticals globally, and achieved more sales of medicinal cannabis products than all other European countries combined.
As such, Nextleaf has identified it as one of the most important markets outside of North America, and a significant opportunity for considerable expansion.
With the commercial launch of the company’s industrial-scale extraction plant, as well as up to 25 tonnes of cannabis biomass under contract from Nextleaf Labs, Nextleaf Solutions is anticipating a steep growth curve throughout the remainder of 2020.
Nextleaf Solutions (OILS) is currently up 1.67 per cent to C$0.30 per share at 12:35pm EDT.