Just as the sunny climate and dry soil of Marlborough helped establish a successful wine industry, Tim Aldridge thinks the same could happen with cannabis. The co-founder of Puro New Zealand, a medicinal cannabis grower and exporter, said the region offered plenty of opportunity with its horticultural knowledge and agritech.
On Friday, the company won two regional business awards, excellency in primary industries and supreme award. The awards come after the company signed a $16 million distribution agreement with UK-based IPS Pharma in June. Puro products are now available in Australian, Germany and the UK.
© Puro
Aldridge said they had a once-in-a-generation opportunity to pioneer a new industry. The medicinal cannabis market would have an estimated $177m market size in New Zealand in 2026, according to the New Zealand Trade and Enterprise website.
Puro, which was founded in 2018 by Aldridge, Sank Macfarlane and Tom Forrest, is based in Kēkerengū, north of Kaikōura, and last year was financially back by Te Rūnanga o Kaikōura, a papatipu rūnanga of iwi Ngāi Tahu. In 2022, Puro also received $13 million delivered over five years from MPI's Sustainable Food and Fibre Futures fund.
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