Ltd () (OTCMKTS:OILFF) has been awarded two patents connected to extraction of THC and CBD, bringing its total issued patents to ten.
The business received a patent from the US Patent and Trademark Workplace, its sixth from the agency, pertaining to its proprietary chilled cannabinoid extraction course of action with downstream media remedy and filtration.
The other patent came from the Superintendency of Sector and Commerce, the Colombian Government agency that administers intellectual home rights, covering Nexleaf’s industrial-scale course of action of extraction, refinement, and distillation of cannabinoids.
Study: Nextleaf Options says its distillation plant on pace to be completed by finish of this month
“Nextleaf getting awarded 10 patents by 4 international patent offices in the crucial markets of Canada, Australia, Colombia, and the United States validates our technologies and additional reinforces our vision of creating defendable intellectual home that improves CBD and THC oil economics globally,” CEO Paul Pedersen mentioned in a statement.
Nextleaf’s technologies enables reduced-high-quality dried cannabis and hemp biomass to be processed at scale into higher-purity THC and CBD distilled oil. The business mentioned it believes that its proprietary technologies will support establish a low-price competitive benefit.
“As far more governments about the globe move to legalize cannabis, we anticipate to see substantial multinational firms, which includes tobacco and pharmaceutical firms, obtain IP in order to shield their rights as portion of their broader method to dominate the international market place for legal cannabinoid-primarily based merchandise,” Pedersen mentioned. “Recent acquisitions by substantial players in the sector are proof of the prospective for considerable shareholder worth creation via the formalization and protection of IP.”