- Nextleaf Solutions (OILS) has been awarded a U.S. patent for technology that maximizes cannabinoid yield
- This marks the Vancouver cannabis company’s 18th issued patent from the U.S. Patent and Trademark Office
- The company’s system also minimizes waste
- The technology takes spent cannabis biomass, heating it in stages to reclaim residual cannabinoids
- Nextleaf Solutions is up 6.25 percent, trading at $0.17 at 11:54 a.m. ET
Nextleaf Solutions (OILS) has been awarded a U.S. patent for technology that maximizes cannabinoid yield.
This marks the Vancouver cannabis company’s 18th issued patent from the U.S. Patent and Trademark Office.
The company’s system also minimizes waste.
The technology takes spent cannabis biomass, heating it in stages to reclaim residual cannabinoids while simultaneously generating carbon with a desired porosity level.
“When utilized, this patented process allows Nextleaf to maximize its cannabinoid molecule yield, reduce waste destined for landfills, and create a new business vertical at minimal cost,” according to the company.
The global activated carbon market is expected to garner 2.7 million tonnes and have a total addressable market over $5.1 billion in 2022.
The cannabis industry has an issue with cannabis waste. In 2020, 20 percent of all dried cannabis was destroyed by Canadian licensed producers, and over 500 tonnes of cannabis have been destroyed since 2018.
“Given the U.S. House of Representatives passing the MORE Act – a bill that would end the federal prohibition on cannabis – and the need for the U.S. Government to address the opioid epidemic, we believe cannabis legalization will become a reality in the United States in the near term. With a U.S. patent stack protecting what we believe to be the most efficient methods of producing distilled THC and CBD in a regulated market, Nextleaf is well positioned to benefit from U.S. legalization,” said Nextleaf CEO Paul Pedersen.
Nextleaf Solutions is up 6.25 percent, trading at $0.17 at 11:54 a.m. ET.