Colorado company Mile High Labs has established its first European base in Northern Ireland and recently recorded its first sales in UK and Europe.
Mile High, which describes itself as the ‘largest extractor of CBD isolate in the world’, began operations in Belfast, last year, and in a press release says it has since built out a dedicated team to lead its expansion in Europe.
John Wallace, Managing Director of Mile High Labs U.K./E.U. said: “We are very excited to officially launch European operations with our first sales into the U.K. and E.U. Quality and consistency are of paramount importance in the European market, and we are proud to bring Mile High Labs’ products and standards to customers locally.”
“Having an on-the-ground presence helps us provide the best service and support to current customers in the region as well as new ones that understand the tremendous opportunity in this burgeoning market.”
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Jason Roth, CEO of Mile High Labs, added: “Our expansion is a testament to the global consumer demand for CBD. Wherever our customers are around the world, we want to support them, and we are committed to bringing the highest quality standards to the European CBD market and beyond.”
Mile High Labs says the Belfast operation opens up a low-cost distribution center to serve the UK and European markets, will lower its corporate tax rate via the UK patent box system, and will create new business opportunities through the company’s close relationship with Invest Northern Ireland.
Cannabis medication has become increasingly high profile in Northern Ireland. Tyrone county woman Charlotte Caldwell helped change UK legislation last year after securing a licence from the Home Secretary Sajid Javid to import cannabis medicine to treat her son Billy’s epilepsy.
In October, last year, Mile High Labs secured $35 million from institutional and private equity investors to expand the production capacity of its CBD extracts and fund its international expansion. In a press statement at the time Mr Hilley said: “We believe the CBD market is in the early stages of a 20-year secular growth trend, the size and scope of which the world’s largest consumer of packaged goods cannot ignore.
“We are already the CBD platform of choice for many of the market’s most recognizable brands and we welcome the chance to work with anyone seeking to explore this immense opportunity.”
Mile High Monster
Last month the company unveiled its ‘Mile High Monster’ – a mobile CBD extractor – which is installed directly on a hemp farm to work like an oil derrick.
It’s the first commercial scale, patent-pending extractor of its type with the company saying it can process about 50 acres of hemp per day into six barrels of CBD oil. The new extractor, the result of years of research and development, will help meet demand for the oil, it says.
The company’s first Mile High Monster was set up in eastern Colorado in March and the second will begin operating in southern Colorado this month.