AltoVerde announces two new partnerships as part of its European expansion
Multifaceted cannabis company AltoVerde has announced two new partnerships with A&J GREEN HOUSE and Marijupharma D.O.O as part of its market expansion across Europe.
The company has entered into a 38 percent stake partnership with medical cannabis producer A&J GREEN HOUSE. Located in Gostivar, North Macedonia, the new deal equates to one of the largest sole supply agreements in the country and sees A&J GREEN HOUSE become the home of AltoVerde Genetics, making it one of the largest cannabis genetic projects in Europe.
A&J GREEN HOUSE will adopt AltoVerde’s grow room design, genetic breeding programme and grow techniques across 2,500m2 of the facility’s greenhouses to breed, cultivate and produce precise cannabis based products, specials and prescribed products. An additional area of over 500m2 is for drying, packing and extraction operations, as well as staff areas.
Compliance procedures will be managed by the clinical team in the UK to ensure successful importation and supply to the UK and the rest of Europe.
Adding to this portfolio, AltoVerde has negotiated and agreed Macedonia’s largest sole supply agreement with Marijupharma D.O.O.
Located in Bogdanci, North Macedonia, the partnership will see AltoVerde implement its grow room design and choice of hydroponic systems across 15,000m2, equating to one of the largest indoor facilities in Macedonia. AltoVerde is initially supplying 20 strains under the partnership to be used for medicinal product development.
Commenting on the partnerships, Mitesh Makwana, Founder and Chairman of AltoVerde, says: “North Macedonia remains one of the few countries in the world with the legal right to grow and export medical cannabis, and the free-market approach is making North Macedonia very attractive.
At AltoVerde, we have acknowledged this potential and have strategically partnered with A&J GREEN HOUSE and Marijupharma D.O.O to develop a world class genetic breeding program and deliver high-quality standardised products to market with a good price point for patients.
Our vision is to be the leading certified, vertically integrated cannabis company, that is headquartered in Europe, and we believe partnering with A&J GREEN HOUSE and Marijupharma D.O.O will enable us to pursue this goal and bring better products to market. Together, we will work to produce a variety of proprietary compounds for Active Pharmaceutical Ingredients (APIs) and medicines, and we are excited to see the results from these partnerships.“
A&J GREEN HOUSE comment: “In 2016, North Macedonia approved legislation to legalize the use of medical cannabis and since then it has set its sights on European expansion – cultivating a cannabis industry of its own, open to investors, entrepreneurs and multinationals.
Businesses and the Government alike are realising that the medical cannabis industry has an exciting future ahead, however, it must be based on conclusive research. Partnering with AltoVerde has opened up a brilliant opportunity to further scientific research and innovation across the sector and, by producing high quality cannabis-based medicinal products, the venture is set to be a transformative one for the facility.“
Marijupharma D.O.O comment: “With a market of over 742 million people and a total healthcare spend of €2.3 trillion, Europe is set to be the largest medical cannabis market in the world. As the market demand accelerates, so to will the need for high-quality standardized products which consumers can trust.
We are excited to be at the forefront of this progressive industry and believe that partnering with AltoVerde offers a unique opportunity to breed, cultivate and produce high quality CBD and high THC products, which will revolutionise current market offerings and set new industry standards. The advancement of cannabis in Europe presents a rare opportunity to establish ourselves in this industry where current production is no way near forecasted demand.“
This was posted in Bdaily's Members' News section by Nathan Stennett .
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