NASDAQ listed cannabis company Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) has announced it has been granted Australian GMP certification for its cannabis facilities in Colombia by Australia’s Therapeutic Goods Administration (TGA).
Clever Leaves became a public company in late 2020 through a business combination with Schultze Special Purpose Acquisition Corp. Its Colombia operations produce cannabinoid active pharmaceutical ingredients (APIs) and finished products in flower and extract form.
The new GMP certification is a prerequisite for the manufacturing and commercialization of cannabis products in Australia’s rapidly growing market. Commenting on the achievement, Clever Leaves CEO Andres Fajardo said:.
“The awarding of Australian-GMP certification signifies a major milestone for Clever Leaves by further highlighting our commitment to producing high-quality and safe cannabis products in one of the fastest growing and largest medicinal cannabis markets globally. We will continue distributing through our partners, with whom we are already distributing finished cannabis products to patients in the country.”
With this new certification under its belt, Clever Leaves says it is the first and only medicinal cannabis company globally to hold GMP certifications from the European Union, Colombia, Brazil, and Australia.
Clever Leaves says the nature of its operations in Colombia drive various efficiencies, such as the availability of 12 hours of daily sunlight year-round; avoiding the need for artificial light. A high elevation means improved pest mitigation and rainwater collection supplies two-thirds of water needs for cultivation. On the human resources front, Colombia offers a low labor cost and minimum wage (<$2.00/hour vs. $8.00-$12.00/hour in Canada).
Clever Leaves’ facility boasts 108,000 kg per year of dry flower extraction capacity. The company points out western operators produce cannabis for around 2 dollars a gram.
“Our capital and operating efficiencies allow us to produce cannabis product for 20 cents a gram – 90 per cent cheaper”.
The firm also says it is one of the first vertically integrated medicinal cannabis companies worldwide to achieve international certification for carbon neutrality.
“Clever Leaves aims to disrupt the traditional cannabis production industry by leveraging environmentally-sustainable, industrial scale and low-cost production methods wrapped in the world’s most stringent pharmaceutical quality certifications.”
