Tilray’s $22m investment into its European developing ‘campus’ is paying dividends with its initial harvest – and initial contract win.
The Canadian Licensed Producer announced it has completed its initial harvest at its wholly-owned subsidiary Tilray Portugal Unipessoal (Tilray Portugal). Sascha Mielcarek, Managing Director, Tilray Europe, stated the the initial harvest is a ‘key milestone’ for the firm as it ‘looks to provide the health-related cannabis marketplace 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 practically 250,000 square feet of indoor, outside and greenhouse cultivation. It also options analysis labs, processing, packaging and distribution for health-related cannabis items.
Identified as the Tilray EU Campus it presently employs more than 100 persons, with that quantity anticipated to double by the finish of 2019, as far more harvests are gathered and production ramped up. The firm 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 top quality health-related cannabis items and supplies two,500 pharmacies and clinical facilities across the nation. Cannamedical CEO David Henn stated: “Tilray’s solution passed our strict top quality handle requirements, and we’re excited to have identified a companion in a position to provide health-related cannabis items for use in Cannamedical’s personal brands.
“We appear forward to growing access for sufferers in need to have across the nation.”
The Portugal facility is a cornerstone international asset for Tilray, which, like several significant North American cannabis organizations, has international 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 simply because of its warm climate – with an agreement to add an extra 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 decrease charges and boost margins when hedging against regulatory risk’.