Europe's Booming CBD Market Grows Will Grow More Than 400% - Seite 2

But this cultivation capacity is only half the story. On August 7, StillCanna (CSE:STIL) (OTC:SCNNF) begun harvesting its crops through its patented method, which during the harvesting process maintains optimum CBD levels. This leads into a two-stage extraction plan for the hemp once it has been harvested.

The first step involves the company's newest extraction facility in Poland called Nexus. Nexus has been optimized to produce over 1,230 kgs. of CBD isolate every month. StillCanna expects Nexus to be fully operational by Q4, allowing the company to begin fulfilling its delivery contracts.

The second step involves another CBD extraction facility, budgeted at an initial C$8.5 million to construct and equip with GMP certification which should be operational in 10 to 14 months. Named Horizon, this facility will be the technical culmination of knowledge gathered from the company's earlier facilities. Upon completion, it will be one of the most advanced, green, high-capacity facilities in the world, capable of producing more than 80 million grams of CBD per year.

By the end of this year, StillCanna will be able to produce up to 16 million grams of CBD, while next year it plans to double that number. By 2021 the company expects to be cultivating 12,500 acres and produce up to 60 million grams, with still plenty of room to grow beyond that.

Other Early Movers in the European CBD Market

Another company that is well-positioned to be a major provider of CBD products for Europe is GW Pharmaceuticals (NASDAQ:GWPH). The British-based company manufactures a CBD drug called Epidiolex which has already been prescribed to more than 12,000 patients. This has led GW Pharma to post net sales of $68.4 million during the last quarter and $101.9 million over the first half of 2019. The company has also seen positive results for its phase-three trial of the drug, which evaluated the effects of Epidiolex in patients with a rare and severe type of childhood epilepsy.

Meanwhile, The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) (OTCQX:TGODF), which recently filed an application to join the NASDAQ, has been extending its already impressive reach into new corners of the European CBD markets. At the start of the year, its JV partner, Knud Jepsen, received cannabis business authorization from the Danish Medicines Agency. Then, in May, TGOD entered the German CBD market through its subsidiary, HemPoland. The Dutchman's premium CBD brand will soon be lining the shelves of German pharmacies.