Nextleaf Solutions Ltd (CSE: OILS) (OTC: OILFF) announced the Canadian Intellectual Property Office has granted the company a patent for its proprietary filtration stack used in the post-extraction processing of THC and CBD oils.
With this new license, the company has been issued 11 patents by four worldwide patent offices in Australia, Canada, Colombia and the United States.
"Given the abundant supply of lower-grade dried cannabis, we believe processors that establish a competitive advantage by utilizing superior technology to transform otherwise unsellable biomass into high-purity THC and CBD oils at a lower cost than competitors, will generate better margins and build a sustainable long term business," said CEO of Nextleaf Solutions Paul Pedersen.
"As we close out 2019, I'm extremely proud of our R&D team for obtaining its 11th patent, protecting what we believe to be the most efficient methods for producing distilled THC and CBD oil at scale within a regulated environment."
Nextleaf was granted multiple patents for industrial-scale extraction and purification of cannabinoids. In December, the company received its high-capacity extraction plant, the final element of the company's processing system. Cost per gram of THC and CBD is the central decision driver when licensed companies decide to outsource their extraction.
Another significant action the company made in 2019 is the installation of its automated vape cart filling line that can fill up to 3,000 vape cartridges per hour.
Moreover, Nextleaf obtained intellectual property regarding water-soluble cannabinoid formulations. It also obtained a U.S. patent pending hydrocarbon extraction process and formulation for THC concentrate, commonly known as "shatter."
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