Hellenic Dynamics Plc has successfully received a European Union ("EU") grant via the EU Horizon Europe project of €304,425, as announced in the European Commission's Funding and Tenders' Portal.
Hellenic Dynamics' is the sole medicinal cannabis cultivator in the research consortium that was awarded the Reliable Artificial Intelligence and Data Optimisation project of the EU Horizon Europe grant. The project aims to identify the critical technology gaps and invent, optimize, assess, and demonstrate the key enablers for optimized Artificial Intelligence ("AI"). The overall budget for this EU Horizon Europe project is just under €9 million over a period of 36 months.
The consortium consists of 29 partners from 11 countries, including Kingston University, Queen Mary University of London, and Fujitsu Technology Solutions. It was noted the application for the EU grant funding received the highest score possible.
This successful grant application will further assist Hellenic Dynamics' cultivation strategy by utilizing AI in the best cultivation methodology to provide consistent medical cannabis products to the Company's licensed distributors.
Davinder Rai, CEO of Hellenic Dynamics, commented: "The rubber stamp from the EU as the only cannabis cultivator in the Horizon Europe project to successfully achieve this grant shows the strong reputation of the Company. The successful application received the highest possible mark for the grant, and this is a testament to the Company and our strong management team. Hellenic will now be in a position to benefit from the advantages artificial intelligence can bring to the medical cannabis cultivation industry. I look forward to implementing this technology into our facility and working with our 28 partners across 11 European countries, and seeing the benefits this could bring to the industry as a whole, none more so than allowing patients access to a sustainably consistent source of medicine."
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