Last year, Switzerland-based Cannerald switched from growing CBD-rich cannabis to fully THC medical cannabis, and now 90% of their production this year is already sold through contracts and agreements, as well as about half of the production for next year. "Given the exceptional quality of our cultivation facility and our upcoming GMP certification, the transition to fully medicinal cannabis was a natural next step."," says Levin Amweg, co-founder and CEO of the company.
Things have been going well for Cannerald, to the point that they also had to increase their workforce, and it is still growing. "We are on a hiring streak," says Levin with a chuckle. "Next month, 18 new people are joining. In total, we are now around 50 employees. By the end of the year, I believe we are going to be 90–100."
Like many medical cannabis growers in Europe, Levin and Cannerald are laser-focused on the German market, but also diversify their international clientele with the UK, Czech Republic and more. "When it comes to adult-use in Germany, there are social clubs, but so far, not many have been approved yet. That mainly has to do with the government being a little slow with licenses," he remarks. Certainly, with a new government also taking shape in Germany as we speak, things are bound to be even a bit slower in the coming period.
However, real opportunities lie in the medical space. "Medical is the way to go for the next couple of years," he says. "But I believe that, once social clubs and adult-use in Germany have picked up the pace, it will look like California."
Things are moving in Switzerland as well in the adult-use space, though the framework will most likely be a bit different than in Germany. "The government wants to create a centralised approach where licensed producers operate under government control and sell their products only to certain retail fronts. Obviously it won't happen overnight, but things will certainly come together in 2-3 years' time.
In the meantime, Cannerald keeps doing what they do best. "These are very exciting times for us," Levin says. "We are using our facility to its full potential, and we are pretty excited about the genetics we are growing. I couldn't have imagined we'd be at this point two years ago."
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