Tilray’s $22m investment into its European expanding ‘campus’ is paying dividends with its very first harvest – and very first contract win.
The Canadian Licensed Producer announced it has completed its very first harvest at its wholly-owned subsidiary Tilray Portugal Unipessoal (Tilray Portugal). Sascha Mielcarek, Managing Director, Tilray Europe, stated the the very first harvest is a ‘key milestone’ for the business as it ‘looks to provide the health-related cannabis market place in Europe’.
Tilray’s E.U. Campus
Tilray Portugal is primarily based in the little town of Cantanhede, just more than 130 miles north of Lisbon and totals practically 250,000 square feet of indoor, outside and greenhouse cultivation. It also functions investigation labs, processing, packaging and distribution for health-related cannabis goods.
Identified as the Tilray EU Campus it at present employs more than 100 people today, with that quantity anticipated to double by the finish of 2019, as a lot more harvests are gathered and production ramped up. The business has also announced a deal to to export a wholesale shipment of $three.three million worth of health-related cannabis from Portugal to Cannamedical in Germany.
Portuguese Cannabis to Germany
Founded in 2016 in Cologne, Cannamedical is licensed to import and distribute higher high quality health-related cannabis goods and supplies two,500 pharmacies and clinical facilities across the nation. Cannamedical CEO David Henn stated: “Tilray’s solution passed our strict high quality manage requirements, and we’re excited to have discovered a companion capable to provide health-related cannabis goods for use in Cannamedical’s personal brands.
“We appear forward to rising access for individuals in have to have across the nation.”
The Portugal facility is a cornerstone international asset for Tilray, which, like quite a few big North American cannabis organizations, has worldwide ambitions. It received a license to develop, import, and export bulk health-related cannabis in Portugal in mid-2017 and believes that Germany’s legalization of health-related marijuana will be replicated all through the E.U.
Additional Portuguese Move For Tilray
Ontario-primarily based Tilray has also announced it has expanded its Portuguese footprint – selected due to the fact of its warm climate – with an agreement to add an added 20 hectares of outside cultivation space in Alentejo. Tilray CEO Brendan Kennedy stated its EU campus is an ‘important differentiator, which will allow it to cut down expenses and boost margins though hedging against regulatory risk’.