Bio Leaf Health is moving ahead with a new two million euro investment to expand its medical cannabis operation in Póvoa e Meadas, Portugal. The expansion will bring the total investment at the site to around eight million euros and will allow the company to scale greenhouse production, Bio Leaf Health CEO Franck Fatalot.
The project is entering what Franck calls "the second phase." The venture capital backing the company since its creation sticks around for the new funding round, signalling confidence that the operation is ready for a larger footprint. "We are ready for good production. We have good experience. Now it is the moment to increase the structure of production to do good production," he says.
The site currently operates two greenhouses, but that number is about to go up quite a bit. Construction on a first buildout wave starts in February. The plan is to reach ten greenhouses, with the full layout eventually capped at twelve. "For good production and good ROI, we must build these greenhouses," Franck says.
Bio Leaf Health cultivates on about five hectares and focuses entirely on flower production. Everything it grows follows GACP. The company works with seven different strains and produces both premium and mid premium grades. "Everything we do is for flowers," says Franck. The company received its cultivation license in November 2023, but the project has been in the making for five years.
On the commercial side, Bio Leaf Health ships to several countries. Germany is the main market, followed by the United Kingdom, Australia, and Portugal. The new buildout should increase supply for these markets. To close the loop between cultivation and export, Bio Leaf Health is also in the process of obtaining a GMP certification for their on-site processing facility. "We have a processing facility for GMP now, but we must make it GMP certified," Franck explains.
For more information:
Bio Leaf Health
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bioleafhealth.com
