Quadron Cannatech (QCC.C) has sold a BOSS CO2 extraction system to Kelowna-based pot-farm, Ten-10 Ventures.
Even though Ten-10 Ventures won’t be doing business until their Cannabis Act application upgrade is complete, that’s still money in the bank for Quadron, even if the system isn’t getting used right away.
That seems to be how Quadron’s story is shaping up lately, though. Despite a slumping cannabis market, Quadron finished 2018 on a high note and, after making their first sale in late January, they’re aiming for more of the same in 2019.
“The importance of simple-to-use, efficient extraction equipment cannot be understated. After researching various extraction units, we are excited to integrate Quadron’s BOSS CO2 extraction system in our production facility in the preparation for our future production upon receiving our licence from Health Canada,” states Steve Smith, chief executive officer of Ten-10.
The BOSS CO2 extraction system combines Quadron’s proprietary max flow tech with advanced thermodynamics, automated features and an exclusive plug-and-play design.
Compared to other systems on the market, Quadron says The BOSS takes up only a fraction of the space and energy requirements, helping to keep the environmental footprint low.
Designed to Good Manufacturing Practice standards and is equipped with Clean-in-Place.
There’s no required external hardware or facility renovations to install The BOSS. The only requirement are two electrical outlets and an hour to complete set-up. Moreover, the clean-in-place design means the machine doesn’t have to be disassembled for regular maintenance.
“Quadron’s innovative CO2 extraction system is designed with producers in mind: the highest safety standards, industry-first Clean-in-Place, and simple set-up and operation. We are proving our expertise in extraction capabilities by developing equipment and processes which support producers achieving a financial return as quickly as possible,” said Rosy Mondin, chief executive officer of Quadron.
In previous months, Quadron has sold a handful of these devices, including one to a licensed grow facility in Ontario, proving that these machines move out and put money in Quadron’s pockets. Right now, Quadron is valued at a little shy of $13 million, with a stock price that closed today at $0.18.
Next up in Q2 2019, Quadron will release The Beast, an ethanol extraction system able to process large amounts of biomass for the cannabis industry. Completely automated, it has touch-screen control and will retail from $1.5 million to $2.25 million.
As more LPs get their extraction licenses online in 2019, Quadron’s prospects will only get brighter. We think this is Quadron’s year.
Full disclosure: Quadron Cannatech is an Equity.Guru marketing client.