Tilray (NASDAQ:TLRY) announced that it has signed an agreement to add 20 hectares of outdoor cultivation space in Alentejo, Portugal, adding to the existing 5 hectares of cultivation and manufacturing research space at its European Union (EU) Campus in Cantanhede, Portugal.
As quoted in the press release:
“We’re proud to be expanding our capacity to produce high-quality medical cannabis products in Europe using innovative outdoor growing methods.” says Sascha Mielcarek, Tilray’s Managing Director, Europe. “We look forward to supplying patients in need in existing and new markets with Tilray’s medical cannabis products, proudly produced in Europe.”
Tilray is leasing the land from Esporão, one of the largest and most sophisticated agricultural businesses in Portugal. Esporão will provide operational and technical support at the site to a team of Tilray experts, including master horticulturists, growers and quality assurance managers. Tilray will grow, harvest and dry medical cannabis materials at the additional site that will then be transported to Tilray’s EU Campus in Portugal for processing, manufacturing and distribution across Europe and other international markets. The entire outdoor cultivation site was successfully planted in July and a harvest is expected in fall 2019.