Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) (“Clever Leaves” or the “Company”), a leading multinational operator and licensed producer of pharmaceutical-grade cannabinoids, today announces the official licensing of its expanded greenhouse facilities by the Portuguese regulatory health authority, INFARMED, I.P. With the preexisting facilities licensed in August 2020, this new milestone extends the licensed cultivation footprint by approximately 150,000 square feet, more than doubling the facility’s original licensed cultivation capacity to a total of nearly 260,000 square feet of cultivation as well as supporting post-harvest and other activities.
As an extension of the existing license for Clever Leaves’ Portuguese facilities, the newly obtained license from INFARMED provides the capacity not only to increase commercial production at a higher quality standard, but also for enhanced research and development capabilities, including the stabilization of new strains and the continued improvement of current products through applied research.
Thus far, Clever Leaves has exported from their Portuguese facilities to the United Kingdom, Australia, the United States, and Israel, each with distinct product requirements and specifications. The additional greenhouse space will enable further tailoring of cultivation efforts toward country-specific regulations, both increasing previous export capability and diversifying exports geographically.
“With a nice starting set of facilities, Clever Leaves Portugal has achieved historic milestones in the global cannabis trade,” says Clever Leaves CEO Kyle Detwiler. “However, we have gained tremendous industry knowledge and experience since Clever Leaves’ inception in 2016, and we infused all of the lessons we have learned in constructing these new Portuguese facilities. With this latest licensing to our Portugal expansion, we’re optimistic about the heights we’ll be able to reach in 2022 and beyond.”
Included in the list of capabilities in the new facilities are enhancements to temperature control, moisture management, lighting, and carbon dioxide injection. Production in the newly licensed facilities has begun, with first commercial production expected to be market ready as early as the second or third quarter of 2022. Construction continues on Clever Leaves’ expansion of its Portuguese post-harvest capabilities, which is anticipated to be operational by the end of 2022.
