Your latest cannabis business info from Europe

Your latest cannabis business info from Europe

2024-04-26

Sustainability and growth in the hemp&cannabis industry: Synbiotic

Sustainability and growth in the hemp industry: Synbiotic

Synbiotic, the German industrial hemp and cannabis group, is moving towards the bio-economy and hemp industry with a series of strategic moves and developments. From receiving substantial government support to acquiring key players in the market, Synbiotic is positioning itself as a leader in sustainable production and innovation.

Government support for Synbiotic’s sustainable production

In a recent press release, Synbiotic announced that the Federal Ministry for Economic Affairs and Climate Protection (BMWK) is providing financial backing of 1.6 million euros to support a hemp farm project in the realm of industrial bio-economy. This funding aims to propel the planning and execution of automated and AI-supported production for processing biogenic raw materials, including hemp, miscanthus, and agricultural peatlands’ cultures.

Rafael Dulon is a Managing Director of Hanf Farm GmbH. He expressed gratitude for the support, highlighting its role in realizing their vision of sustainable and efficient organic raw material production. The project will be important for industrial bio-economy, promising increased efficiency, sustainability, and future developments in the sector.

Acquisition of Ilesol Pharmaceuticals

Synbiotic’s strategic expansion continued with the acquisition of Ilesol Pharmaceuticals, a Croatian company specializing in cannabinoid extracts and isolates. With a 3,400 m2 production facility and a range of CBD natural cosmetics, Ilesol adds crucial capabilities to Synbiotic’s supply chain.

Managing Director of Synbiotic, emphasized the significance of in-house production and refinement of hemp and cannabis extracts, citing it as a substantial competitive advantage. The acquisition positions Synbiotic strongly in the growing market for hemp extracts and CBD isolates. The plans include capitalisation on increased demand in various sectors, including cosmetics and potential novel food applications.

Strong growth after legalisation

Following Germany’s historic decision to partially legalise cannabis, Synbiotic’s subsidiary, Bushdoctor, reported a surge in orders from the country. With 80% of current orders originating from Germany, Bushdoctor, a veteran in the cannabis industry with over 25 years of experience, is adapting to meet the increased demand. Strategic initiatives are underway to improve customer service and acquisition, including a revamped shop system and targeted marketing efforts. Synbiotic’s overarching marketing strategy aims to capitalize on the evolving market dynamics, leveraging its established presence and product portfolio.

Synbiotic’s leadership is keen on establishing the company as a dominant player not only in the German market but across Europe. With acquisitions like Ilesol and strategic initiatives in place, Synbiotic is well-positioned to capitalize on the opportunities presented by the evolving regulatory landscape surrounding cannabis. Emilio Ropero, Chief Communication Officer of Synbiotic, reiterated their commitment to sustainable growth through comprehensive marketing strategies and effective utilization of market opportunities.

In summary, Synbiotic’s recent developments underscore its commitment to sustainability, innovation, and strategic growth in the hemp industry. With government support, strategic acquisitions, and a forward-looking approach, Synbiotic is poised to lead the way in shaping the future of industrial hemp and cannabis in Europe.

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Sustainability and growth in the hemp&cannabis industry: Synbiotic