Australian-owned medical cannabis company Cannatrek has unveiled a partnership that allows them to sell Australian-grown cannabis in Germany’s medical cannabis market.
Cannatrek is one of Australia’s largest cultivators of medical cannabis, operating a 3200 sqm cultivation facility in Queensland. On Thursday, the company announced a new partnership with German-based Nimbus Health.
Nimbus is a GDP and GMP-certified distributor of medical cannabis products in Germany. Nimbus health has also recently partnered with ASX-listed cannabis company Althea Group.
Cannatrek’s new partnership will see the company export dried cannabis flower suitable for vaping into Europe. The flower will then be prescribed to patients with chronic pain, sleep disorders, depression and anxiety. As Cannatrek CEO and founder Tommy Huppert explained:
Vaporizers heat the flowers, and the inhaled vapour creates an instant therapeutic effect for managing the relief of breakthrough pain and other medical symptoms.
The partnership is a multi-year agreement with the first shipment including 200 kilograms of dried cannabis flower.
Germany is currently considered Europe’s largest medical cannabis market. The country is home to around 120,000 medical cannabis patients, who consumed over €75 million in medical cannabis products this year. The industry is projected to grow significantly over the next few years, with a report from Prohibition Partners predicting the market will be worth €7.7 billion by 2028 (roughly $12.5 AUD).
Nimbus CEO Linus Weber believes Australian cannabis will bring German patients products with unique terpene profiles, giving them “additional value”. Unlike many European countries, Australia’s climate allows cannabis companies to grow cannabis without artificial light and pesticides.
Cannatrek’s Huppert has also predicted the company’s partnership with Nimbus will give them a “toehold” on the budding European cannabis market. The company expects its first shipment of medical cannabis to arrive in Europe early next year.