Mary Agrotechnologies has signed a memorandum of understanding to form an in-depth partnership with CBDer Biotechnology, headquartered in Yunnan, China. This partnership marks Mary AG's first application of farm-level technology, taking its knowledge in automated systems and applying that expertise to a holistic, controlled growing condition that incorporates automated plant health assessment.
Mary AG's joint venture Yunnan Moquan and CBDer are currently the only companies licensed for indoor industrial hemp cultivation in China's only legalized province for cannabinoid extraction. A founding member of the Industrial Hemp branch of China National Narcotic Drugs Association, CBDer is also an R&D partner with KPC Pharmaceuticals (SSE: 600422) in breeding high CBD potency hemp cultivars.
The MOU mainly encompasses:
Working with CBDer to further develop China's industrial hemp market.
Working with CBDer on potential non-China greenhouse projects.
Forming a joint R&D project in the fields of photobiology, artificial climate, sensors, computer vision, automated cultivation, etc.
Exploring the possibility of using CBDer's greenhouses to grow indoor industrial hemp to produce extracted or isolated cannabinoids for domestic and international markets.
"The partnership with CBDer is the first major step of our expansion into China. Compared to traditional cultivation methods, we anticipate significant increase in crop yields, lowered labour costs, as well as more consistent potency. The partnership will also give us many competitive advantages to become a leader in China's nascent cannabinoid industry," stated Frank Qin, Chief Executive Officer of the Company.
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