Implementation of this complete processing plant methodology will give OGZ Holdings and its partners a competitive advantage in the cannabis concentrates market.
OAKLAND, Calif. (PRWEB) February 27, 2018
OGZ Holdings announced today that the United States Patent and Trademark Office has issued the company a process patent for the development of oil refining technology that will align the processing cost of cannabis oil more closely with that of the edible oils industry.
As the cannabis oil market continues to grow rapidly and large companies including Constellation and Alliance One enter the market, the scaled manufacturing of cannabis oil is ripe for innovation. OGZ conducted a patent landscape analysis, techno-economic modeling and studied the supply chain of edible oils, including palm oil which is the most highly traded vegetable oil globally. The analyses revealed an approximately 6,500-fold difference in processing cost per pound between the two.
"An innovation gap currently exists between processing cannabis oil and edible oils. For example, the cost to process crude palm oil is about 20 cents per pound, while cannabis oil carries a cost of $1,300 per pound," said Dr. Ahmed Shuja, senior partner at OGZ. "We believe our implementation of this complete processing plant methodology will give OGZ Holdings and its partners a competitive advantage in the cannabis concentrates market."
The newly issued patent relates to a processing method designed to reduce costs and increase processing throughput. A key step in the process works by applying electric fields for a fraction of a second to create small openings in the cannabis cell walls that speed extraction. In the potato industry, this same technology used by the McDonald's corporation in the processing of their signature French fries.
By further evaluating each process step, OGZ Holdings has designed closed systems to go from extraction to distillate in a single machine to provide substantial savings in labor and less residual oil loss. The core technology was demonstrated in Colorado at a facility commissioned by OGZ Holdings in 2017.
"The low volume of cannabis oil production has kept many edible oils technology providers from expanding into the cannabis oil market," noted Shuja. "According to research conducted by OGZ Holdings, cannabis oil retail sales in the state of California alone currently represent a more valuable market than all US imports of crude palm oil by 200%. OGZ Holdings believes cannabis oil will eventually be a highly-traded commodity oil and will find its way into countless products."
About OGZ Holdings
OGZ Holdings provides design services, aggregates IP and market right to key technologies for the legal cannabis industry developing in the United States. The company is privately held, profitable, growing with a greater than 200% year over year growth with several current product and services offerings. The company will license intellectual property rights to agricultural technologies to be employed in extraction and processing of botanical ingredients and compounds to key partners in the United State. The company will be raising a Series A in 2018 to accelerate expansion and M&A activity. The Company follows strict standard operating protocols and adheres to the applicable laws of United States and foreign jurisdictions. For more information, visit http://www.ogzholdings.net For a full investor briefing email: investors(at)ogzholdings.net