Abattis Bioceuticals (CSE:ATT) (OTC:ATTBF) announced the completion of experiments confirming the feasibility of column chromatography extraction technology for extracting CBD, THC, and THCA from industrial hemp and cannabis.
According to Abattis’ CEO, Rob Abenante, “The extraction method… is capable of extraction on an industrial scale, which delivers significant cost advantages.”
The technology is also able to recover 99% of all cannabinoids from the biomass. Conventional methods only yield up to 80%.
“The technology has the potential to revolutionize the extraction process for most cannabis derivatives for the entire sector,” stated Mr. Abenante. Using this technology, Abattis intends to offer its extraction services to the largest producers in North America, giving them competitive cost advantages over producers using other techniques.
The stock closed today at $0.39. It has doubled since the announcement. The company has a market cap of $74 million and a 52-week trading range of $0.05 to $0.58.
Dr. Frank Zhu, the key developer and owner of the technology, installed the demonstration apparatus at Abattis’ faculties to confirm the technology. The experiments extracted up to 75 kilograms of biomass per day. According to Zhu, the technology is already being used elsewhere for up to 50,000 kilograms of biomass per day.
“I am very pleased to finally demonstrate the capabilities of the column chromatography technology when applied to cannabinoid extraction,” stated Frank Zhu.
Other test findings:
- The technology removes all traces of pesticides and impurities from the cultivation and transportation process.
- A factory running at a 500 kg-per-day processing rate could process CBD at less than $0.20/gram.
- The cost of capital equipment and operations is less than half of conventional CO2 processes.
Abattis is a life sciences and biotechnology company which invests in cannabis technologies in Canada. The company has developed natural health products, medicines, extractions, and ingredients.
Source Abattis press release