Aphria (TSX:APH) announced the approval of a new extraction facility worth C$55 million set to be built in Leamington, Ontario.
As quoted in the press release:
The facility will be equipped to conduct a wide range of cannabis extractions, including C02, butane and ethanol, and produce world-class cannabis concentrates, including fractionated distillates. Construction of the new Extraction Centre of Excellence is expected to begin immediately and the facility is scheduled to release its first concentrates by March 2019.
Vic Neufeld, CEO of Aphria, said, “The Extraction Centre of Excellence will give Aphria a significant competitive advantage in cannabis concentrates, which are expected to be a significant product category. This is the latest example of our continued leadership in cannabis product innovation. Aphria will further its expertise delivering unparalleled innovative products to meet consumer demand. This facility will be the centre of industry-leading R&D and commercial production of next generation cannabis concentrate products.”