Neptune Wellness Solutions Inc (NEPT)

[FUNMAN]

Neptune Wellness Solutions Inc (NASDAQ:NEPT) To Shift To Using A New Cold Ethanol Equipment

Published 7 hours ago on October 25, 2019
By Melissa Kay

Sounds great to me.

https://mmjreporter.com/neptune-wellness-solutions-inc-nasdaqnept-to-shift-to-using-a-new-cold-ethanol-equipment-39649

Neptune Wellness Solutions Inc (NASDAQ:NEPT) says that Sherbrooke has started utilizing its new cold ethanol equipment to process biomass. Sherbrooke is this company’s facility, and it is located in Quebec.

Production activities
The company says that its product consumers will soon be enjoying its cannabis extracts. It says that its ethanol equipment is in good working condition. In a few weeks, it promises it will have made the first shipment.

Neptune Wellness Solutions says it is almost done with tests on the initial batches that will be hitting the markets soon.

It is focusing on its CO2 extraction line and says that if all plays according to plan, it anticipates higher yields. Towards the end of November, the company hopes that its capacity to process biomass will have gone up significantly. It looks forward to an annual run rate of about 200,000 kg towards the end of November.

Neptune has decided that it will be working with the cold ethanol technology in place of CO2 equipment. It makes a move because the cold ethanol technology is by far much faster and also consumes less energy. The high level of automation at the Sherbrooke facility will work quite well with the company’s cold ethanol process. Neptune says that this approach will see it come out as a low-cost manufacturer in Canada.

Plans underway
The company has also spoken about the move by Health Canada to give it additional security clearance. This will be working in line with the production personnel and targets, alleviating all forms of operational constraints.

Neptune’s CEO Michael Cammarata says that they will be working towards expanding the company’s growth strategy. The target is to push the company to become a world leader in cannabis extraction and purification. It will also be important to try and satisfy that fast-rising demand for cannabis products, and the company commits to doing its best.

The other major move by the company has to do with the signing of a new extraction agreement in the United States. This company will be entrusted with the processing of hemp biomass, which will be converted into crude oil extracts. This is going to be a 2-year agreement, and it is with a large U.S.-based farming services operation.