Cannabis vapes distributor and manufacturer Nextleaf Solutions Ltd. (CSE:OILS) (OTCQB:OILFF) (FSE: L0MA) announced that the United States Patent and Trademark Office has granted the company its 18th issued U.S. patent.
How It Works?
Nextleaf's latest U.S. patent describes a system in which spent cannabis biomass is heated in stages to reclaim residual cannabinoids while simultaneously generating carbon with a desired porosity level.
When utilized, this patented process allows Nextleaf to maximize its cannabinoid molecule yield, reduce waste destined for landfills, and create a new business vertical at minimal cost.
The issued U.S. patent is the latest example of Nextleaf's respect for the plant and its continuous commitment to developing innovative solutions for industry-wide problems.
Nextleaf's Patents
Nextleaf owns one of the largest collections of U.S. patents among cannabis companies, as well as a Greater Vancouver-based extraction plant producing low-cost cannabinoid ingredients under its Health Canada licences.
Nextleaf's multi-patented automated extraction plant up-cycles aged cannabis flower and biomass, which would otherwise be destroyed, into high-purity cannabinoid ingredients at industrial scale.
The company's intellectual property includes 18 U.S. patents and over 95 issued patents globally on cannabinoid processing including extraction, distillation, and acetylation.
With this latest issued patent, Nextleaf has a success rate above 95% for pending application to issued patents.
"Given the U.S. House of Representatives passing the MORE Act - a bill that would end the federal prohibition on cannabis - and the need for the U.S. Government to address the opioid epidemic, we believe cannabis legalization will become a reality in the United States in the near term," Paul Pedersen, Nextleaf CEO, said. "With a U.S. patent stack protecting what we believe to be the most efficient methods of producing distilled THC and CBD in a regulated market, Nextleaf is well positioned to benefit from U.S. legalization."
Executive Officer Update
Nextleaf also announced a recent update to its leadership structure with the transition of Ryan Ko, chief technology officer of Nextleaf Solutions Ltd., from his executive officer role to serve as the company's vice president of innovation and technology.
The change is effective as of April 5th, 2022.
A co-founder of Nextleaf, Ko has authored over 80 global patents and will remain as the key driver of Nextleaf's innovation & IP commercialization strategy.