- Annual growth of 17% is forecast for cannabis extraction market to reach $28.5 billion by 2027
- Pure Extracts Technologies is already operating leading extraction systems from Vitalis and will soon become one of the first companies to have Vitalis’ new Cosolvent Injection System (“CIS”)
- The CIS delivers dramatically faster throughput capacities, even higher-quality cannabis extracts, optimal ethanol cosolvent flow rates and low ethanol usage
Analysts are aligned on the future of the cannabis extraction market, with expectations for years of double-digit compound annual growth rates. The market experts at Grand View Research see 16.6% CAGR for the market to reach $28.5 billion by 2027 (https://cnw.fm/sCXw7). Market Insight Reports concurs with the trajectory, seeing the market at $26.1 billion in the next six years (https://cnw.fm/wiOQA). Drivers are another common thread, particularly in medical applications where consumers and scientists continue to expand their understanding of all the healthcare uses for the spate of compounds found in cannabis and hemp plants. That’s good news to extraction companies like Pure Extracts Technologies (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) that get those compounds, called cannabinoids, out of the plant.
The methods for extracting cannabinoids vary, as do the end products. Generally speaking, there are three types of products: full-spectrum, distillates and isolates. Full-spectrum products contain all the cannabinoids found in cannabis while distillates offer higher purity of either THC or CBD, depending on the biomass source. Isolates are made up of only ultra-pure CBD or THC and no other cannabis compounds.
Full-spectrum products are the most popular because of what is known as the “entourage effect,” delivered with the full gamut of cannabinoids. For many people dealing with common ailments like anxiety and pain, cannabinoids are becoming a go-to alternative to traditional pharmaceuticals.
Pure Extracts this month ordered brand-new technology from Vitalis, a global leader in extraction systems, to stay on the leading edge of the industry as demand increases. The British Columbia-based Company ordered Vitalis’ state-of-the-art Cosolvent Injection System (“CIS”), meaning Pure Extracts will be one of the first companies in the world to receive the innovative system.
The CIS is an add-on that enhances Vitalis carbon dioxide extraction systems, including the Q90 (Vitalis’ flagship product) and R200 (Vitalis’ “massive volume” series) systems currently used at Pure Extracts’ facilities (https://cnw.fm/r3Y6r). The CIS provides dramatically faster throughput capacities while maintaining the quality of the cannabis and hemp extracts.
Furthermore, the Vitalis CIS has been designed to achieve the optimal ethanol cosolvent flow rate ranges for both cannabis and hemp extracts (i.e., THC and CBD), balancing extract quality with efficiency while keeping ethanol usage exceptionally low. To operators, this translates to better product, more product and higher margins.
“We are very excited to be one of the first recipients of the Vitalis Cosolvent Injection System,” said Pure Extracts CEO Ben Nikolaevsky in a news release on the order (https://cnw.fm/YQL59). “It will allow us to ramp-up our production much faster than we had anticipated allowing us to offer our customers exceptional value while still producing the same high-quality oil extracts we are known for,” he concluded.
For more information, visit the company’s website at www.PureExtractsCorp.com.
NOTE TO INVESTORS: The latest news and updates relating to PULL are available in the company’s newsroom at https://cnw.fm/PULL
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