Photos by Clever Leaves
The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
Europe is now a booming and viable market for companies needing a conducive environment to start and grow their cannabis businesses.
Due to favorable conditions and geography, the EU has become a preferred cannabis business destination, and companies are trooping there in numbers.
Companies like Clever Leaves Holdings Inc. (NASDAQ: CLVR), Curaleaf Holdings, Inc. (CSE: CURA, OTCQX: CURLF) and Aurora Cannabis Inc. (NYSE: ACB, TSX: ACB) are actively growing marijuana in European locations.
The European market is estimated to be worth €403.4 million by the end of 2021 and is expected to grow at a compound annual growth rate (CAGR) of 67.4% from 2021 to reach €3.2 billion by 2025. The European cannabidiol (CBD) market alone is on course to grow by 400% over the next 4 years.
Entering the EU cannabis market is not as easy as it seems — regulators demand companies adhere to health and safety regulatory standards to ensure the highest levels of quality and earn the EU GMP certification, which ensures production consistency, testing, stability, and rigorous control according to standards.
The European cannabis market provides a fertile ground for growth for companies, especially Clever Leaves. Andrés Fajardo, President of Clever Leaves, has been shedding more light on the company’s innovative business approach in Europe in an exclusive interview and Q&A session with Benzinga.
Can you give some details about the Portuguese business and facilities there?
Clever Leaves’ Portuguese cultivation facility is located on approximately 9 million square feet of land and consists of approximately 260,000 square feet of greenhouse facilities with a significant expansion …