More News - Next Green Wave begins to implement Intrexon Bot Next Green Wave's Nursery Botticelli(TM) Research & Development Program Begins
Next Green Wave begins to implement Intrexon Botticelli(TM) next generation (non-GMO) tissue culture platform toward rapid and sustainable cannabis plantlet production
Vancouver, British Columbia--(Newsfile Corp. - March 22, 2019) - Next Green Wave Holdings Inc. (CSE: NGW) (OTCQB: NXGWF) ("Next Green Wave", "NGW" or the "Company"), is pleased to announce that is has begun the optimization phase of the strategic licensing agreement with Intrexon Corporation (NASDAQ: XON) ("Intrexon") to utilize Intrexon's Botticelli™ next generation plant propagation platform to enable rapid production of Next Green Wave's proprietary cannabis cultivars for the California market. The collaborative work conducted at Next Green Wave's facilities will also accelerate its vision of becoming a world-class nursery.
California Market Plantelet Product Opportunity
In the U.S. market, legal cannabis revenue is projected to exceed $23 billion by 2022, with California estimated as representing around a third of that market. With estimated 57% compound annual growth rate and using 2 plants per Sq. Mt, we estimate a total market size of 50M plantlets in California by 2022. Cannabis cultivation is predominantly mediated through cloning, a process that is labor intensive, costly, and not sustainable due to the risk of disease susceptibility. In addition, plants derived from repeated cuttings lose vigor in performance.
Phase 1 - The Optimization Phase
As part of the first phase of the project, Next Green Wave will optimize Intrexon's Botticelli™ technology to Next Green Wave's specific cannabis cultivars. The Botticelli™ platform is an advanced tissue culture technology designed to enable efficient propagation of plants while maintaining genetic purity and product performance. It offers potential for a more sustainable, scalable, and more economical solution than conventional cloning approaches with cannabis.
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This will offer the cannabis market several advantages:
- Rapid multiplication of proprietary lines in smaller areas,
- Reduction or potential elimination of mother rooms,
- Substantially decreased cutting load on the mother plants ensuring genetic purity and product performance,
- Reduced phytosanitary risk and superior product performance,
- A more integrated production system and shorter time to vegetation room; ex., reduction or elimination for vegetative acclimatization step, and
- Capital efficiencies.
Upcoming Key Milestones in 2019
Next Green Wave will work to achieve the following;
- Utilize Next Green Wave's hemp CBD strains as a proxy to optimize standard operating procedure (SOP)
- Complete tissue culture lab build out and become operational at Next Green Wave's 3,240 sq. ft Site C facility.
- Optimize Botticelli™ SOP to Next Green Wave THC cultivars ready for scale-up production and commercialization.
"This program enables Next Green Wave to improve its library of award-winning premium genetics through a next-generation tissue culture platform, Botticelli™, and serves two vital functions for our company," stated Mike Jennings, COO at Next Green Wave. "First, it is step toward ensuring that all of our flowering facilities are filled with the highest quality of nursery stock resulting in higher yields and overall cannabinoid content than traditional clones. Second, it offers the potential that our nursery will have state of the art top quality nursery stock to sell to other commercial growers, providing a long-term pathway to increase market share and revenue on a state wide scale."
On behalf of the Board,
Leigh Hughes
CEO and Executive Chairman, Next Green Wave Holdings Inc.