Tilray’s $22m investment into its European developing ‘campus’ is paying dividends with its 1st harvest – and 1st contract win.
The Canadian Licensed Producer announced it has completed its 1st harvest at its wholly-owned subsidiary Tilray Portugal Unipessoal (Tilray Portugal). Sascha Mielcarek, Managing Director, Tilray Europe, mentioned the the 1st harvest is a ‘key milestone’ for the business as it ‘looks to provide the healthcare cannabis industry in Europe’.
Tilray’s E.U. Campus
Tilray Portugal is primarily based in the tiny town of Cantanhede, just more than 130 miles north of Lisbon and totals almost 250,000 square feet of indoor, outside and greenhouse cultivation. It also capabilities investigation labs, processing, packaging and distribution for healthcare cannabis goods.
Recognized as the Tilray EU Campus it at the moment employs more than 100 people today, with that quantity anticipated to double by the finish of 2019, as extra 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 healthcare cannabis from Portugal to Cannamedical in Germany.
Portuguese Cannabis to Germany
Founded in 2016 in Cologne, Cannamedical is licensed to import and distribute higher excellent healthcare cannabis goods and supplies two,500 pharmacies and clinical facilities across the nation. Cannamedical CEO David Henn mentioned: “Tilray’s item passed our strict excellent manage requirements, and we’re excited to have identified a companion capable to provide healthcare cannabis goods for use in Cannamedical’s personal brands.
“We appear forward to growing access for sufferers in require across the nation.”
The Portugal facility is a cornerstone international asset for Tilray, which, like quite a few huge North American cannabis providers, has worldwide ambitions. It received a license to develop, import, and export bulk healthcare cannabis in Portugal in mid-2017 and believes that Germany’s legalization of healthcare 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 since of its warm climate – with an agreement to add an added 20 hectares of outside cultivation space in Alentejo. Tilray CEO Brendan Kennedy mentioned its EU campus is an ‘important differentiator, which will allow it to cut down charges and boost margins whilst hedging against regulatory risk’.