Canadian cannabis company Tilray have announced Portugal will be their base for cultivation, distribution and research of cannabis in Europe. Tilray officially announced the opening of their European campus in Cantanhede in the Coimbra District of the country last week.
The Portuguese authorities approved Tilray’s request to cultivate medical cannabis in the country last year allowing them 2.4 hectares to grow the plant. Tilray have already completed two successful harvests both indoor and outdoor and are hoping Portugal will be the ideal location to distribute within the European Union.
The announcement of their new European facility comes after Germany announced three successful candidates who won the tender process to cultivate medical cannabis in Germany. The successful candidates being Canadian companies Aurora and Aphia and the German company Wayland Group.
Canadian companies are also looking to expand in to Denmark, where the country are a quarter way through a four-year medical cannabis trial. It looks likely that Aurora Nordic, Medican, Schroll Medical/Aphria, Medical Cannabis Denmark, Schroll Medical, Aphria, and Spectrum Cannabis Denmark will receive cultivation and export licences as the country look to export into the European union later this year.
Tilray hope to Capitalise on Portugal’s warm climate to give them a competitive edge over their competitors in Europe. Tilray’s CEO Brendan Kennedy told Reuters “Some of our competitors are located in Denmark and northern Germany, where there isn’t that much sun. So we think we can produce a more environmentally-friendly product here,”
As legislation in Europe is moving at a very fast pace it looks likely more global cannabis companies will look to invest in the continent which is set to be the biggest market in the world with a population of over 700 million.
Keep up to date with all the latest industry news by signing up to our news letter you can find the link in our bio.