Eco Innovation’s Next-Gen Cannabis Extraction Technology on Track for Full Commercial Launch as U.S. House Considers Federal Cannabis Legalization | 2022-03-305 min read
VAN NUYS, Calif., March 30, 2022 /PRNewswire/ — Eco Innovation Team, Inc. (OTC: ECOX) (“ECOX” or the “Organization”), an revolutionary enterprise building new green electrical power answers, is pleased to update recent and possible shareholders as the Firm’s supercritical Glycerin Extraction Technological know-how (“GET”), an innovative cannabis extraction process, innovations by way of the United States Patent and Trademark Business office (USPTO) whilst a essential bill contemplating federal legalization of hashish heads toward a vote in the United States Residence of Reps this week.
As introduced by the Company in its release dated March 17, 2022, Eco Innovation Group not too long ago obtained a Discover of Allowance from the USPTO for its patent masking approaches of extraction of plant supplies attained applying the GET technique, which has been exclusively licensed to ECOX by Glytech, LLC (“Glytech”).
“The GET system is an improve of the technologies horizon for generating remarkable significant-grade plant extracts with a provable reduction in fees, as properly as time and power, through the extraction procedure, which has tremendous implications for the cannabis items industry,” stated Julia Otey-Raudes, CEO of Eco Innovation Team. “As we move toward whole IP safety to accompany our distinctive license rights for this next-generation extraction technological innovation, we consider legislative momentum is a tailwind for the cannabis marketplace, and we applaud lawmakers who are encouraging to travel development and provide for far more equity and larger access.”
The Cannabis Prospect, Reinvestment and Expungement Act (the “Far more Act”) is a bill sponsored by House Judiciary Committee Chairman Jerrold Nadler (D-NY) that is up for a vote to distinct the United States Residence of Reps as early as this 7 days. The monthly bill effectively aims to get rid of hashish from the record of federally controlled substances, which could open up the doorway for accurate federal legalization of cannabis in the United States. However, the monthly bill would not have to have states to legalize hashish but would go away regulatory discretion up to states.
At the same time, the Secure and Reasonable Enforcement (Safe and sound) Banking Act (H.R. 1996), sponsored by Rep. Ed Perlmutter (D-CO), is now up for consideration in the Senate with a model that was reintroduced on March 23, 2021, and is sponsored by Sens. Jeff Merkley (D-OR) and Steve Daines (R-MT), with 180 existing cosponsors. The Risk-free Banking Act would make protections for financial institutions that deliver economic solutions to state-authorized hashish organizations, offering little and minority-owned cannabis businesses access to financial institutions and regulated financial products and services.
Management sights these actions as critical techniques in leveling the taking part in area for shoppers and companies as the GET procedure moves toward industrial launch, which is at this time planned for Q4 2022 or early 2023.
The GET system’s plant extraction process promises to decrease waste from vaping cannabis and to provide better standardization of extracts in merchandise. Compared with present engineering in the marketplace, this technological innovation utilizes a non-CO2 solvent and cofactors to extract picked bioactive compounds from plant components. The end result is an extracted fluid outstanding in viscosity to the output of recent CO2-dependent extraction techniques, whilst streamlining time, strength, and cash fees.
The GET technique was lined by Chemical Engineering magazine previous yr.
Otey-Raudes added, “This technological innovation – our distinctive technological innovation – guarantees to generate larger sized yields with better source effectiveness though generating a lot more dependable, standardizable concentrations of concentrate on compounds. This consistency is a huge factor. It usually means customers stand to get products and solutions with the same potency each and every time, which is not the scenario with latest methods in use these days, together with supercritical CO2. We assume this technology will generate decrease overhead prices to brands whilst producing far better all round yields and better shopper satisfaction. In a maturing market with expanding reach, this is paramount.”
About Eco Innovation Team
Eco Innovation Group was founded by Inventors and Small business Pros to help nurture and catalyze the most revolutionary and impactful goods and companies, and to provide all those improvements to the globe, improving upon the top quality of daily life in our communities and the globe all over us, whilst offering worth to our shareholders.
At ECOX, we are devoted to producing and commercializing profitable products and solutions. But we will in no way drop sight of the point that we exist, initially and foremost, to aid people today and make improvements to lifetime on the planet we all share. We choose our Social Accountability Agreement severely in all our endeavors. It is not only what we do. It is who we are. For a lot more info, take a look at www.ecoig.com.
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