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U.S firm says it has bought Dutch maker of extraction technology
The post U.S firm says it has bought Dutch maker of extraction technology was originally published on HempToday. Subscribe to our newsletter, check out our events and follow us on facebook, instagram and twitter.
Colorado, USA-based Folium Biosciences said it has bought FeyeCon, a designer of large scale supercritical CO2 extraction technology based in Weesp, Holland.
Folium said the move gives the company “an additional level of vertical integration,” and strengthens its ability to control the production process from seed to sale.
The companies did not announce the financial details of the deal.
“We have acquired vested pharmaceutical R&D licenses as well as Active Ingredient licenses, and a comprehensive IP portfolio that includes over 150 patents,” Folium CEO Kashif Shan said of the acquisition, which he noted will “speed along our pharmaceutical division and Rx joint ventures in the active ingredient and new product development space.”
Woerlee transitions to CTO
FeyeCon’s CEO, Geert Woerlee, an industry veteran who holds several patents and trade secrets relevant to extraction technology, will become Folium Biosciences’ CTO.
FeyeCon installed extraction and purification equipment at Folium Biosciences’ 110K sq. ft. facility in Colorado. Five SFE CO2 extraction skids with an 800K lb. biomass monthly capacity will be deployed this spring, along with other state-of-the-art equipment, the company said.
Plans for Canada, S. America
Folium Biosciences said it has more than 300,000 sq. ft. of manufacturing space in southern Colorado for processing, extraction and purification operations, with construction underway on a 170,000 sq. ft. facility in Canada that will mirror current operations in Colorado. South American facilities are in the planning stages, the company said.
Folium also announced that M. Vanessa Fernandez will join the company as VP of Product Development and Quality. She has a background in R&D, and has consulted on pharmaceutical developments for several European and American companies.
The post U.S firm says it has bought Dutch maker of extraction technology was originally published on HempToday. Subscribe to our newsletter, check out our events and follow us on facebook, instagram and twitter.
