Nuuvera recently purchased a 11,300 square-foot property in Bad Bramstedt, in northern Germany, to build a premium vault storage system equipped with state-of-the-art security and related technology. The facility is expected to meet the most stringent requirements for the storage of controlled substances in Germany and the EU.
Lorne Abony, the CEO of Nuuvera, said that the new facility will ensure the company can continue to develop into a major supplier of medical cannabis products to German consumers. "This development is ground-breaking for Nuuvera," said Abony. "It is a critical element of our on-the-ground operations in Germany and throughout Europe. With a market of 82-million people, Germany represents a key growth opportunity in this emerging and rapidly growing global business.”
Demand for medical cannabis products in Germany is expected to surge in the coming months and years. Legislation passed in 2017 eased consumer access to medical cannabis products. In the German medical system, physicians and pharmacists work closely to ensure that patient needs are met and that only the highest quality products are available.
The Nuuvera facility will be built in two phases. In phase one, the storage system will be built and it is expected to be completed and fully operational in Q2 2018. In addition to storage capabilities, it is expected that in phase two the facility will also contain a GMP-certified packaging and processing facility, allowing Nuuvera to prepare bulk material shipped from Canada to Germany.
Hendrik Knopp, Managing Director of Nuuvera Germany, said that the facility will function as a hub for German and European supply and distribution. "Nuuvera's quick assessment of the demand and needs in Germany are reflected in the significant and highly strategic investment the company is making here. We are very well-placed to immediately respond to market demand, while ensuring premium quality throughout the cultivation, processing, import, packaging, and shipment to pharmacies. Our corporate priority aligns perfectly with that of German physicians, pharmacists and lawmakers: that medical consumers receive top quality product on a consistent basis."
The cultivation, processing, import, packaging, and shipment of medical cannabis in Germany is subject to the receipt of all required regulatory approvals including the approval of the TSX Venture Exchange.
Nuuvera is a global cannabis company founded on Canadian principles, and built with the whole world in mind. Nuuvera is currently working with partners in Germany, Israel and Italy, and is exploring opportunities in several other countries, to develop commercial production and global distribution of medical grade cannabis in legalized markets.