Canopy Rivers announced an investment of US$10 million for California-based plant research company ZeaKal.
Canopy Rivers (TSXV:RIV,OTC Pink:CNPOF) announced an investment of US$10 million for California-based plant research company ZeaKal.
As quoted in the press release:
ZeaKal’s proprietary technology, PhotoSeed, increases a plant’s intrinsic photosynthetic capacity, meaning that PhotoSeed plants can convert more sunlight and carbon dioxide into energy for growth. This results in substantial improvement in seed and grain yield, as well as improved macronutrient profiles that drive an increase in both oil and protein content. For farmers, this means better productivity and profit margins; for consumers, this means higher nutritional profiles and an environmentally friendly way to meet growing global demand. With multi-year field trials across diverse plant species in the United States, Canada and New Zealand, the initial commercial focus has been on major row crops. Following Canopy Rivers’ investment, ZeaKal intends to expand its program to include cannabis and hemp.
“Our investment in ZeaKal, the fifth consecutive international transaction for Canopy Rivers, builds on our thesis of selecting globally scalable and innovative processes, products, and technologies from complementary industries, and applying them to the cannabis and hemp economy,” said Mary Dimou, Director of Business Development at Canopy Rivers.
Canopy Rivers believes that applying ZeaKal’s PhotoSeed technology to cannabis and hemp represents a significant step forward – with increased crop yield, higher oil production, additional grow cycles, and enriched cannabinoid output numbering among the potential benefits of the technology.
As a result of its US$10 million investment, Canopy Rivers owns approximately 8.7 percent of ZeaKal on a fully diluted basis and holds an observer seat on ZeaKal’s board of directors.