Akanda is readying its first major shipment of medical cannabis to Germany and the company is already anticipating it can capture a significant share of the emerging market.
Akanda’s EU GMP certified indoor grow facility in Sintra received its first purchase order and is expected to make its first export shipment to Germany imminently. The company recently entered into an agreement to deliver 1,000 kilograms of medical cannabis flower to German pharmacies through the Cansativa platform.
Cansativa is the only company in Germany permitted to distribute domestically grown cannabis. Cansativa will have a right of first refusal (ROFR) to take on additional quantities that could result in the full capacity utilization of Holigen’s 2,000 kilograms per annum indoor production capacity. The deal ranks as one of the largest supply agreements in the European medical cannabis industry.
Akanda is targeting a 10% market share position of German medical cannabis imports, with room for additional expansion and growth. Germany imported approximately 21,000 kilograms of medical cannabis in the second half of 2021 and first half of 2022 combined, based on official import numbers. Imports to Germany grew by 27%1 over the past quarter. Germany has imported medical cannabis from numerous countries, with Portugal becoming an increasingly larger player gaining ground on Canada, the leader in this space. Holigen is one of few publicly traded companies that is a Europe-based cultivator, manufacturer and distributor of EU GMP certified medical cannabis. Holigen hosts a one-of-a-kind 20,000 square foot indoor cultivation site in Sintra dedicated to the cultivation of high THC premium cannabis as well as a large 7 million square foot (180+ acres) outdoor facility located two hours south in Aljustrel.