While the popularity of cannabidiol (CBD) has been growing, the current price of high-quality CBD oil is so high that it is out of reach for many of the people who need it the most. Draconis Extraction Technology (DET) has come up with a system which will extract crude CBD on an industrial scale and lower the cost of the final product.
The large-scale ethanol extraction process is patented and is set to start being used to avail winterized, full-spectrum de-waxed CBD oil.
Paul Baskis, the person who invented the extraction system says he was driven by a desire to help those who badly need CBD oil but struggle to afford it. He singled out veterans who suffer from different conditions, such as PTSD and anxiety.
Currently, 1,000mg of CBD oil costs $350 on the market and this oil can last approximately 11 days for a person weighing 180 pounds with a recommendation of 5mg for each pound of body weight. How many people can afford such a cost, he wondered.
The technology introduced by DET will make it cheaper for crude CBD oil to be available without sacrificing the quality of the product. Paul Baskis boasts that the crude oil his extraction system will produce is so pure that someone can vape it without seeing any residues in the vape pen.
The other novel thing about this extraction method is that no waste is generated. The oils and waxes removed are also products in their own right. For example, the waxes are sold as raw materials for the cosmetics industry while the pulp is ready to use in the manufacture of bioplastics, paper and fabrics.
The hemp pulp can also be converted into fuel to power the extraction system and the residue from this fuel is a high-quality carbon-based fertilizer.
Max Le Pera, the Vice President of Draconis, explained that the company feels strongly about environmental sustainability and the need for a circular economy in which each section of the company feeds another without causing any adverse effect on the environment.
The example set by DET shows just how far the recently legalized hemp industry can go in terms of offering solutions to the different problems facing the country, such as reviving the economy of rural areas where hemp can be grown.
The unveiling of this new extraction technology must be having industry players like Geyser Brands Inc. (TSX.V: GYSR) and Earth Science Tech Inc. (OTCQB: ETST) imagining how easier things are going to get as more innovators enter the cannabis and hemp space.
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