California-based Greenbelt Resources Corp earlier this month announced a letter of intent with NCM Biotech (NCM) to build cannabis extraction testing services in California and Oregon.
NCM, which has a patented process for extracting cannabinoids from the cannabis plant, has successfully tested the use of Greenbelt's bioethanol as a solvent during the extraction. The bioethanol for the purpose had been produced from brewery waste. This is one of the feedstocks set to be used in Greenbelt’s commercial-scale feedstock testing facility, scheduled to start operations by the end of 2018.
Once operational, the facilities planned by Greenbelt and NCM will serve the global medical cannabis market, which according to Forbes, is expected to expand to USD 13.3 billion (EUR 10.9bn) in 2020 from USD 4.7 billion in 2016.
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US bioethanol firm forms partnership on medical cannabis extraction