Tilray’s $22m investment into its European expanding ‘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 corporation as it ‘looks to provide the healthcare cannabis marketplace 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 almost 250,000 square feet of indoor, outside and greenhouse cultivation. It also functions analysis labs, processing, packaging and distribution for healthcare cannabis goods.
Identified as the Tilray EU Campus it presently employs more than 100 folks, with that quantity anticipated to double by the finish of 2019, as additional harvests are gathered and production ramped up. The corporation 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 stated: “Tilray’s solution passed our strict excellent manage requirements, and we’re excited to have identified a companion in a position 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 several substantial North American cannabis providers, has international 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 stated its EU campus is an ‘important differentiator, which will allow it to minimize charges and enhance margins even though hedging against regulatory risk’.