NewsMedicinal CannabisWork On £12m Medicinal Cannabis Cultivation Facility Held-Up By...

Work On £12m Medicinal Cannabis Cultivation Facility Held-Up By Covid-19 UK Travel Ban

-

ANANDA Developments has secured £300,000 to build out the first phase of its medicinal cannabis growing research facility in Lincolnshire.

In May last year the AQSE Growth Market-listed business unveiled £12m plans to create one of the UK’s largest medicinal cannabis farms – capable of growing 300,000 plants a year.

In a market update Ananda says the £300,000 fundraise will allow it to undertake work on the first phase of the development.

CEO Melissa Sturgess said “We are excited about this development in Ananda’s ambitions to provide high-quality, cost-effective, UK-grown medicinal cannabis to patients here and abroad. 

Covid-19 Hold-Ups 

“The UK medicinal cannabis market is growing at around 20% a month and has grown to around 3,000 patients in the last 12 months. These funds will allow us to build Phase One of our medicinal cannabis facility if we get a green light from the Home Office.”

A virtual fly through of the proposed Phase One facility can be found here

Ananda went on to say the UK Home Office had advised its growing partner DJT Plants that its application has progressed successfully through internal Home Office checks. 

However, due to COVID-19 travel restrictions the Home Office has been able to undertake the required site visit ‘which will be undertaken as soon as travel restrictions allow’.

Ananda says its Phase One Lincolnshire facility will be used to genetically stabilise and analyse up to 65 strains of cannabis and will be comprised of:

-a 2,000 sq ms greenhouse to grow out chosen strains of medicinal cannabis to maturity

-a modular breeding facility to be located within an existing farm structure

-a secure, monitored perimeter structure.

40 Hectare Plans 

If DJT Plants receives its licence and establishes its large-scale research growing project, it will seek to expand the licence to grow medicinal cannabis for commercial purposes over time, on an area of 40 hectares identified and earmarked by JEPCO, said Ananda.

Subscribers include Smaller Company Capital Limited a London-based and small cap specialist

In an interview with BusinessCann last year Ms Sturgess said its 300,000 plants will be capable of delivering an annual harvest of 200 tonnes when at full capacity.

She said: “We will be growing under proven, successful, natural cycles – under poly-tunnel – with no requirement for artificial heat or light. We plan to ramp-up to full capacity over a six-year period.

“As the market slowly opens up, the UK is being seen very much as a premium jurisdiction for medical cannabis.” 

Ananda subsidiary Tiamat Agriculture and JEPCO Group – who previously worked with GW Pharmaceuticals – will deliver the project under the joint venture name DJT Plants.


Peter
Peter McCusker is an experienced news and business editor, who believes it’s time to fully embrace the multiple, proven, medical benefits of the cannabis plant.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

New French Hemp Rules Under-fire Over Proposals To Outlaw CBD Flowers

THE French government is pressing ahead with moves to outlaw the sale of CBD flowers despite recent decisions to...

UK CBD Brand OTO Signs Deal With Synthetic CBD Brand Pureform Global

LONDON-based wellness and CBD brand, OTO, have signed a partnership deal with Pureform Global. This groundbreaking partnership will enable...

Significant Year-On-Year Rise In German Medical Cannabis Flower Imports

DESPITE a decline in cannabis flower imports for the first quarter of 2021 the German medical cannabis market continues...

Low-Cost Medical Cannabis Flowers To Be Exported From Colombia For The First Time

COLOMBIA is set to permit the export of medical cannabis flower for the first time in what could be...

UK Cannabis Business Eco Equity Announces 100% Equity Acquisition By US Firm Virtual Medical International

ECO Equity Limited a UK company with cultivation assets in Africa, will combine its operations with Virtual Medical International...

New Amendments Could Delay Passing Of Greek Medical Cannabis Bill Until Next Year

GREEK businesses are preparing for amendments to the Mediterranean country’s cannabis laws allowing the cultivation, sale and export of...

Must read

New French Hemp Rules Under-fire Over Proposals To Outlaw CBD Flowers

THE French government is pressing ahead with moves to...

Low-Cost Medical Cannabis Flowers To Be Exported From Colombia For The First Time

COLOMBIA is set to permit the export of medical...

You might also likeRELATED
Recommended to you