Business Cann UK write
THE UK Government through its innovation agency is set to provide almost £500,000 of funding to an English company to develop proprietary cannabidiol synthesis technology.
The cash from Innovate UK has been earmarked for County Durham company Canna Group and will be used to develop bespoke technology to manufacture CBD-HQ.
Americo Folcarelli, CMO of Canna Group, said he believed it was the first such award to have been set aside for a UK cannabis company.
He said: “Naturally, we are very pleased to be selected for this award from Innovate UK which will help speed-up the development of our proprietary technology for the extraction of CBD-HQ.
Established in 2017
“The existing synthesis process takes three months and only converts 50% of the CBD into CBD-HQ, our small scale research has currently shown we can achieve 90% conversion in 12 hours.
“The funding will help us scale-up this primary research and demonstrate its practical and economic viability at scale, before a commercial roll-out.”
Canna Group, formerly Dodd Heres, was established in Consett, County Durham, in 2017 and currently produces a range of ‘standard’ CBD-based products including oils, jellies and topicals.